Cobinhood | Welcoming you to a complete revolution as you enjoy a zero fee trading experience

in #cobinhood5 years ago (edited)

created by @bait002

COBINHOOD is a cryptocurrency platform that leverages on blockchain technology to provide a zero commission trading experience to traders; which is the first service launched by COBINHOOD. The zero fee trading coupled with a high-frequency trading experience that cobinhood provides seeks to solve problems that already exist in terms of dealing cryptocurrencies on exchanges. COBINHOOD also provides spot and margin trading with no fees attached in order to help traders maximize their profits.

Apart from being a zero fee cryptocurrency exchange, COBINHOOD also provides a wide range of services for cryptocurrency users, one of which is the ICO underwriting services; an initiative that help projects solve any problems pertaining to token liquidity.

Cryptocurrencies are gradually becoming attractive and more people are now migrating from conventional or fiat-based financial systems into a more superior one in their quest for freedom from state manipulation and the problems associated with the fiat-based financial institution. Since the first month of 2017 the market cap of cryptocurrencies generally almost doubled its size before the seventh month of the same year. Friends, I believe we are in the face of an unprecedented change as the digital presses on to replace the offline economies. This is one reason why exchanges like COBINHOOD are vital elements in bringing about this global transformation. This is due to the role they play in terms of attracting more and more people to prefer cryptos over fiat. Definitely, one of the biggest discouragements associated with cryptos is in terms of how much one would have to pay to centralized exchanges for using their platform to aid transactions.

The average cryptocurrency exchange charges about 0.2% transaction fees for both market makers and takers. This puts a big hole in a trader’s profit vault causing them to lose funds in a way that’s proportional to the volume they trade. In other words, traders get to lose more of their money in the name of commission and it gets worse as they trade more and more volume. For example what 0.2% means for one that trades $100 will definitely be different compared to someone that trades $1000 or $10,000. So, the more you trade cryptos, the more you would have to let go in the name of service charges. This scenario above is one big nightmare for any trader and also for every economic being in general.
Apart from solving problems associated with transaction charges and providing an **ICO underwriting service**, COBINHOOD also seeks to solve other problems associated with cryptocurrencies in general and such problems include; asset security issues, difficulties of real-time trading, limited support for fiat integration on exchanges, slow customer care service and slow Know Your Customer (KYC) process among many others. And as time goes on, I would like to talk more about this but let me, for now, talk about some features of COBINHOOD and how their model actually works.

COBINHOOD supports a wide-range of cryptocurrencies such as Bitcoin, Bitcoin cash, Ethereum, Ripple, Dash coin, EOS and so on. These currencies can be traded on COBINHOOD while a trader enjoys the following benefits;

  • Zero fees on trades
  • Two-Factor Authentication Enforcement
  • Offline Multisig Wallet Security System

Zero fees:

One of the first things anyone would learn about COBINHOOD is the fact that they do not charge traders for using their platform. This is made possible through the use of a native currency just like most exchanges out there and the cost of maintenance will be generated from the token-economy. The COBINHOOD Token (COB) is what aids COBINHOOD in delivering a no-commission trading feature for your favourite currencies.

Two-Factor Authentication:

The safest way to secure assets in a world that is gradually going digital is to ensure that access to value is authenticated from multiple sources that can only be reached by authorized users.
The basic things to know about keeping cryptos safe involves ensuring that one can’t access crypto wallets from just one device or with a single process (for example; entering a password). With the Two-Factor authentication process, one would have to use tokens (temporary pass-codes) generated by an authenticator app to validate transactions before they are fully initiated or completed. This means that someone may have your password or keys, but unless they can get access to those tokens which are temporary and change within the space of a few seconds, they will not be able to steal any funds in your wallet. However, it is the responsibility of the one who owns these wallets to keep these tokens safe and far from third-parties.

Offline Multsig Wallet Security System:

One of the greatest concerns of anyone coming into the cryptocurrency space is that of security. How safe would funds be on this exchange or that exchange? Even exchanges get hacked and invaded by intruders which in most cases lead to massive loss of funds. Every kind of crypto assets deposited on COBINHOOD will be stored in an offline multisig wallet. It has been estimated that 98% of assets will be stored offline, while the remaining 2% will remain in an online wallet to enhance a quicker user deposit/withdrawal experience.source

COBINHOOD is bringing something revolutionary. The truth is that they are not actually new because they launched their exchange a couple of months ago and their token is currently trading at
$0.027source. Kindly follow the links below to know more about COBINHOOD. Thank you for spending your precious time on my blog. This is Bait and I am bringing you words from the Offline Minnow School.

I have a video from their Youtube below and you might like to take a look;



To know more about Cobinhood, kindly follow the links below;

Project Website:
Products & Services:
1, 2, 3,and 4.
Cobinhood Team:
Cobinhood Story:
Facebook:
Medium:
Twitter:
Instagram:
Refrences;
1, 2.
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