Cryptocurrency exchange is a platform where one can buy and sell or exchange cryptocurrency for another. Exchange is the first point of contact for new participants in the trade/investment in cryptocurrency. Hence cryptocurrency exchange is one of the most important part of the cryptocurrency ecosystem. Currently exchanges are facing a lot of challenges which are list as follows;
• Lack of a mature ecosystem: absence of regulations in the way trades operate on the exchange most times allows “whales” to manipulate the price of some currencies to they interest at the detriment of other traders.
• Friction in dealing with fiat currencies: cryptocurrency holders are often left at the mercy of the market volatility because of lack of liquidity in fiat currencies against crypto assets, this results in people losing out money due to delay in processing by the exchanges.
• Lack of good customer support: this issue of customer support has been the complaint of most traders, with regards bad user experience they have had with customer support provided by many exchanges.
• Security issues: the cryptocurrency space has been the target of hackers who attempts to use the vulnerabilities present in the exchanges to their benefit. This has been suffered by some exchanges in the past where billions of dollars were lost because of that.
• Lack of awareness and education among the mass leading to low adoption rate: because of lack of education and awareness about blockchain and cryptocurrency space, there has been reluctancy in its mass adoption by people.
In order to proffer solution to these challenges, the idea of this project KuBitX was born. The team strongly believe they can provide a suitable and progressive solution to the problems mention above.
About KuBitX
Being a new platform just entering the market, the team has taking into account the unique selling points of the top five exchanges and has improved on the following aspects of the exchange ecosystem.
• Processing speed
• Fiat deposit and withdrawal
• Customer support
• Ease of use
• Multi-lingual
Considering the wide adoption and utilization of mobile platform, KuBitX will have a trading application for mobile platform compatible with both Android and IOS.
KuBitX Business Model
This consist of the revenue stream that comes from commissions on crypto trading and fee. This section will elaborate on how the revenue stream and KuBitX (KBX) token holders are rewarded.
- 25% discount on using the KuBitcoin (BX) token: KuBitcoin acts as the utility for payment for trading fee. Users that opt to use KuBitcoin (KBX) token as a method of payment for trading fee will get 25% discount compared to the original charges.
- Payment processing fee: KuBitX will offer direct withdrawal to the bank account of the user requesting liquidity in fiat by enabling them exchange KuBitcoin (KBX) token to fiat with a charge of processing fee of 2.5%
About The KuBitx Token
Name: KUBITX
The Symbol Token: KBX
Price: 1 Token = KBX 0.00011 ETH
Ethereum Platform Token: ERC20
Total Supply: 500 million KBX
Minimum investment: 0.25 ETH
Payment: ETH
Decimal: 18
Soft cap: 10,000 ETH
Hard cap: 25,000 ETH
KYC: KYC & Whitelist
TGE details: Round seed: in progress.
Ended July 16, 2018.
Round pre-public: July 16-August 31, 2018
Lap General: TBC
Token Allocation
36% for Pre-public Round
23% for the founder and Developer
20% for investment funds KuBitX
16% for Public Round
3% to Advisory Board
2% for Bounty and Airdrop
Distribution Of Funds
30% for Liquidity
15% for backup
15% for promotion or marketing
15% for technology
12.5% for Operational
7.5% for Law
Road Map
Team
For further information on the project please visit any of the following links;
WEBSITE
WHITEPAPER
ANN THREAD
TWITTER
FACEBOOK
TELEGRAM>
Author’s information
Username: kingnony
PROFILE LINK