With the cryptocurrency industry becoming much more popular lately, it is normal for there to be more competition between stock exchanges and trading platforms. At present, most centralized exchanges have some common features, such as trading fees and the lack of tradeable currencies. With COBINHOOD, this situation will change soon. This is the world's first no trading trading exchange and is fully funded by ICO.
What is Cobinhood?
COBINHOOD is a decentralized cryptocurrency exchange that works at no cost to all participants. There is no "maker" or "taker" fee, which is a welcome change. The team claims that this is the first stock exchange in the world to offer free exchanges at any time, which is rather impressive. It should also be mentioned that the COBINHOOD exchange is available on mobile devices via a native application, making cryptocurrency trading even more convenient.
Even if we could use more platforms that do not charge trading fees, it remains to be seen if we will get them. Traders will appreciate this advantage as they can maximize their profits easily, and there are no trading fees for cash trading and margin trading with leverage up to 10x.
In addition, the exchange prides itself on storing the vast majority of its digital assets in an off-line multi-signature vault. Using extra security when dealing with other people's money is not a useless luxury at this time when trading is hacked almost every other month. COBINHOOD requires 5 of 8 geodistributed hardware security modules to access the offline multisign vault. All funds held in online portfolios are fully covered by insurance to recover losses if things go wrong.
In addition, COBINHOOD will provide a high performance command matching engine. Various other exchanges have suffered a deterioration of performance in this regard, which makes the addition of COBINHOOD to this industry all the more important. All of its infrastructure is fully distributed and automatically scalable to cope with a large influx of new users if needed. It never hurts to take precautions in case COBINHOOD suddenly becomes the most popular cryptocurrency exchange in the world.
The Cobinhood token
To build this new free cryptocurrency exchange platform, the COBINHOOD team organized a first ICO. As part of this crowdfunding project, they issued COBINHOOD tokens, known as COB. COB token holders get 50% interest on margin loans by using the token to pay the expenses. In addition, they will be eligible for future ICO tokens subscribed by COBINHOOD. There may be additional benefits in the future, but for now, these are the main selling points.
What future for Cobinhood?
Even though this zero-fee exchange platform is fully operational right now, the work of the COBINHOOD team is not over. Right now, the team is working on the list of additional chips and trading markets, as well as improving some advanced trading features. A few chips are added each week, and the company keeps its users up to date on the way in this regard. All in all, it's worth keeping an eye on this new trading platform.
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