Earlier this January, the global cryptocurrency market exceeded $700 bln, reaching an all-time high in the valuation of all cryptocurrencies combined. Market capitalization amplifies an asset’s value by that asset’s overall amount in circulation. The spike occurred as a result of the increase in the value of more than 1,400 cryptocurrencies in use.
Considering the growth opportunity, traders and investors are starting to get more involved in the crypto world. Now, more than ever, people are looking at cryptocurrencies from an investment perspective. However, crypto investing doesn’t compare to picking stocks on e-Trade because e-Trade is a third party between the Stock Exchange and an investor. Intermediaries or third parties don’t exist when trading on decentralized exchanges.
A “safe haven” against the South Korean crypto exchange ban
A young, driven company CoinSpark with a business model focused on its investors and traders aims to become a new type of decentralized digital asset exchange. It enters the scene in the attempt to reward the crypto community in the form dividends issued proportionally to all SPARK coin holders. The goal is to develop a decentralized digital asset exchange where customers receive 25 percent of the company's net profits.
Another core benefit of the CoinSpark business model is linked to its physical location. Considering speculations are surrounding the fate of crypto exchanges in South Korea, CoinSpark may become a safe haven for foreign investors. Located in the Cayman Islands, the company is fully licensed and could potentially become a “refuge” for investors and traders affected by a potential South Korean crypto exchange ban.
Partnership with AlphaPoint
To ensure a smooth development of the trading platform, CoinSpark partnered with AlphaPoint, a fintech company that turns illiquid assets into liquid assets, enabling its customers to launch products and services by offering other companies and institutions Blockchain-based solutions to launch markets, digitize assets and reduces operational costs at an enterprise level. With customers across five continents and office in San Francisco, New York and Philadelphia, AlphaPoint has a proven record of contributing to the development of some of largest cryptocurrency exchanges currently in use.
Throughout the ICO a total of 25 mln Spark tokens will be made available, with the coins being valued at 0.0025 ETH. The coin offering begins on Valentine’s Day, Feb. 14 and will end on March 14. Because the company believes in providing equal pricing to all of its users, there will be no pre-sale. Considering the increased interest in cryptocurrencies, many of today’s exchanges can’t keep the pace up and often struggle to handle customer service and acquisition. Following the launch in mid-April, CoinSpark is fully prepared to providing top-notch customer service 24/7 in order to make sure all concerns and questions are solved quickly and efficiently.
CoinSpark launches its ICO with 10 core cryptocurrencies: Bitcoin, Ethereum, Bitcoin Cash, Ripple, Bitcoin Gold, Dash, Litecoin, Iota, Neo and Spark. Upon the successful completion and evolution of the ICO, the company’s end goal is to allow numerous other crypto coins to be featured on the exchange, as well as interact with 200+ fiat currencies. SPARK coins will be distributed immediately during the ICO, and coin holders may start trading them on the CoinSpark exchange in April.