Introduction
Exchanges are an integral part of the cryptocurrency revolution. Without exchanges, crypto users won’t have the channel through which they can convert one cryptocurrency to another or exchange their cryptocurrencies for fiat currencies. But in order for crypto users to be able to trade or exchange their cryptos either for fiat or other cryptos such cryptos will have to be listed on an exchange.
The roles of exchanges in promoting the mass adoption of cryptos cannot be over emphasized. The cryptocurrency market has some of such exchanges in existence today, but these exchanges are plagued with challenges that are making some users intending crypto users skeptical of keying into the crypto trend.
Top among some of the problems faced by exchanges in the crypto industry are:
Security challenge:
Some exchanges have been hacked and their user’s accounts emptied without any compensation. Thus security fear is a major challenge in the crypto. Most users are scared that most of the available exchanges are not taking doing enough to improve the security of their platform and this is preventing them from entering into the booming crypto market.
Poor regulatory compliance and transparency:
Most exchanges are situated in locations where there are no strict regulations guiding crypto assets and investment. As a result, they can engage in fraudulent practices or mismanage their user’s funds with no one holding them responsible.
Freezing of users account:
As things currently are in the crytocurrency market, it’s very risky trading with most exchanges because most exchanges can freeze their users’ accounts and they won’t be held responsible since they are in locations without any appropriate regulations. This fear of users losing their asset without any prior warning is making most users reluctant to embracing the crypto revolution.
Trusting the exchange with your assets:
Crypto users are compelled to trust the exchange with their assets before they can access exchanges. This is one of the reasons why some exchanges are engaging in dubious activities with their users'assets. If the user is given control over their assets in exchanges and exchanges accesses to usetosusers it's users' assets is limited, this may help create some kind of trust in the crypto market.
Platform downtime in periods of high volatility :
This is a very annoying experience most users go through while using certain exchanges. It's usually very difficult to enter the market or control trades during periods of high market volatility. Most exchanges shut out their users by making them unable to carry out transactions during such period.
This has made many crypto investors loss their investments and also made those that would want to take advantage of such volatile market to take some quick profits lose such opportunity.
These and many more are the challenges facing the crypto market that are limiting the mass adoption of crypto by some established financial institutions and individuals.
Block chain.io Solution
Blockchain.io is new cryptocurrency exchange that is focusing on taking over the European crypto market. This exchange fixes the problems that crypocurrency users are experiencing in their various exchanges and gives its users the opportunity to trade crypto in a highly secured, regulation complaint, fast, transparent, reliable and highly modern exchange.
Blocckchain.io gives its users great control over their assets, grants them access to various cryptos across different blockchain and enable them to trade such crypto effortlessly. Blockchain.io was founded by a man named Pierre noizat in Paris, France. The founder of blockchain.io is also the founder of Europe's first bitcoin to fiat exchange platform known as paymium in 2011. This platform is still operational today and it has been operating flawlessly with over 180, 000 valid users.
The experience of Pierre Noizat in the crypto space makes him a good candidate to initiate blockchain.io
Vision of blockchain.io
By offering services that distinguished it from other exchanges, block chain.io aims to make itself the number crypocurrency in Europe by the year 2020. Their awesome services and platform features make this vision very attainable.
What blockchain.io is offering
Below are some of the services that blockchain.io is offering that distinguished it from other exchanges already in the market.
Security:
Blockchain.io considers the security of its users to be of utmost importance. The gory experiences of some established crypto exchanges in the hands of hackers made blockchain.io to take its security very seriously.
Blockchain.io has implemented a cold wallet system that stores their users asserts offline. This measure will eliminate the possibility of hacking into their users' accounts because an asset need to be online for it to be hackable. It also utilizes high cryptographic protocols to grant its users extra security.
Security of exchanges is a very necessary requirement for an exchange to function efficiently and blockchain.io is assuring its users of utmost security of their asset.
Regulation compliant
Blockchain.io is regulation compliant. It has met all the regulations of the Europe's regulatory body. This will ensure that it doesn't involve itself in fraudulent practices that will put its users' assets at risk.
By also being in an environment where regulation is important, the regulatory body can also keep a close watch on them, monitor their activities and ensure that they stick to the regulations. This is of great benefit to the users because such regulations will make them more responsible and accountable.
Transparency
Transparency is very important in the operations of blockchain.io. Transparency builds user's trust and reliance on an exchange. Blockchain.io was subject its account to external auditing professionals on a periodic basis. This will ensure that it is operated fairly and its users are not taken undue advantage of.
Vetting of listed cryptocurrency
Only cryptocurrencies that have passed through a selection process by blockchain.io team of experts will be listed on the platform. This will help prevent blockchain.io users from investing in fraudulent cryptocurrency projects.
Elimination of outages or downtimes
Blockchain.io is utilizing a powerful server that will prevent unnecessary outages during times of high volatility. The processing power of its server is very powerful and downtime that raises as a result of high volatility, volume or traffic will be eliminated completely.
Offering of support services to crypto start-ups
Blockchain.io will be offering support services to laudable crypto projects. The team behind blockchain.io comprises financial experts, investors, blockchain analyst, etc. This team has what it takes to offer guidance to crypto start-ups and make them excel in the field.
Any crypto project that blockchain.io gets involved in will be listed on its platform.
Offers both centralized systems speed and decentralized system security
Blockchain.io combines both the speed of centralized system and the trustless features of decentralized system. Its users will experience the best of both worlds in blochchain.io
These are just a few of the opportunities that blockchain.io will be offering its users.
Important features of blockchain.io
Blockchain.io is designed with some wonderful features that enables it perform its functions seamlessly. Some of such features include:
■Decentralized settlement through use of cross chain atomic swaps
■Leveraging Paymium’s advanced technological architecture and software
■98% of funds kept in cold wallet as a strengthened security measure
■Integration and implementation of advanced cryptographic protocols leveraging Lightning Network, Rootstock, Tumblebit technology, and more
■Liquidity services for traders, markets, and projects
■Peer to peer lending and proprietary lending for users are available
■New token listings and token airdrops to BCIO holders
■BCIO utility token provides users with discounted trading fees and survey participation rights for new listings and more
Blockchain.io partnership with paymium
Blockchain.io has gone into an important partnership with paymium. Paymium is europe’s first crypto to fiat exchange and it has been in the market for some years. paymium’s platform is very secured and its user base is about 180,000. It’s also europe’s regulation compliant.
This partnership will bring blockchain.io in contact with paymium’s large user base and promote the fast adoption of blockchain.io. It will also build user’s trust in blockchain.io since paymium is an already established exchange with a good history of excellent service delivery.
Blockchain.io can also tap from the experience and expertise of paymium’s team of experts in the crypto industry. This will enable it to always be ahead of its peers in the industry and always provide excellent and innovative services to its users.
BCIO Token and Crowdsale
BCIO is the token that will be used to run the economic activities of blockchain.io. Users will own this token to be able to access the platform, participate in activities on the platform and enjoy the platform’s amazing features.
The crowdsale for the token is currently in its third week and it will be ending on October 25, 2018. $i.2 million USD was raised in the first 7 days of the crowdsale and regardless of the amount raised by the end of the crowdsale, the platform will be developed because there’s no softcap for the crowdsale. Also, all unsold tokens after the crowdsale will be burned. This implies that the exchange can still enter the market regardless of its low market cap.
users are promised an additional 5% bonus if they purchase a 100 Euros worth of BCIO tokens and used the referral code: emwinVWrVCzugXiWVP3z to make such purchase.
My Thoughts On This Project
This project is very timely. Crypto currency is gaining more grounds in the global economy and it is mandatory that an exchange that is secure, reliable, trustworthy, regulation compliant, 24/7 availability and whose team comprises experts in the crypto market is on ground and easily accessed. This project will encourage mass adoption of crypto and make it very easy for crypto users to access various cryptos and exchange one for the other with ease.
It’s a laudable project that every serious crypto user or investor should key into.