Cobinhood- The New Wave Of Cryptocurrency Exchange

osigbhemeh (64)in #cobinhood • 6 years ago (edited)

Hello everyone. In this post, I'll give an insight into what Cobinhood is and how important it is. Over time, we've experienced an influx in cryptocurrencies and different challenges in trading these cryptocurrencies as well. The very first step into the world of cryptocurrency is likely to occur through an exchange. Before I proceed, there are two main types of exchange, let's quickly take a look at these types of exchange so you don't get things mixed up. The first type of exchange is what we call fiat exchange. This is a type of exchange that makes it possible for the direct transfer of US Dollars, Euros and other currencies to be traded for the cryptocurrency. The second type of exchange is known as a crypto-to-crypto exchange, where cryptocurrencies are traded with each other. Although the most common pairing on these exchanges is BTC and ETH.

Be it BTC, ETH, or LTC. In trying to obtain cryptocurrencies, you will need to use certain reputable exchanges. Most times, in trying to garner more cryptocurrencies, you may have to use both exchanges. Why is this? This is simply because the laid down rules and stipulations surrounding most of these cryptocurrencies makes it very difficult for fiat exchange to sell them.

Daily, we experience growth and popularity on the cryptocurrency market. Considering the rise and recognition of cryptocurrencies such as Bitcoin and Ethereum, there seems to be an influx of people diving into the market on a daily basis. These exchanges are faced with a lot of challenges in trying to keep their platforms intact, and most of them have failed in trying to do so. Most of these exchanges make the account creation feature disabled periodically, thereby customers won't have access in trying to create an account most of the time. Also, most of these markets undergo the issue of delay in carrying out transactions on the platform. From creating an account, to verifying the account and your identity and withdrawals, the system is very slow and tedious. Originally, we are supposed to enjoy a swift and efficient mode of transactions on the blockchain technology and not vice-versa.

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What Is Cobinhood

Cobinhood is a cryptocurrency exchange that offers zero fees as charges or commission for carrying out trading activities on the platform. This is the very first of its kind as Cobinhood has made it possible for traders, who initially, face the trauma of having to pay extra fee as commission, to carry out trading activities on the Cobinhood exchange without paying extra fees. Initially, in trading crypto for crypto on other exchanges, these exchanges remove certain fee from your account as transaction fees, thereby not allowing traders to enjoy their 100% trade. Cobinhood has eliminated this problem by bringing the very first zero-fee cryptocurrency exchange.

Of course, zero-fee trading is not a particularly new innovation. The US-based zero-fee exchange Robinhood trades only in traditional markets and only for US investors. Cobinhood has jumped on this limitation and is building a business model with the hope of reaching traders and investors not only from the US but around the world. Source

Cobinhood has taken the lead in trying to build a business platform, not only traditionally, but with hopes of reaching traders and investors all over the world.

Cobinhood Team

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Cobinhood founder Chen Tai Yuan is a 26year old serial entrepreneur who graduated from the National Taiwan University (NTU) and gained a masters degree in Electrical Engineering at the age of 22. While Co-founder, Wei-Ning, was a former employee at google with about three years of working experience. Before now, he worked as an active open-source contributor. Wei-Ning is also an early adopter of cryptocurrency as he has five years of cryptocurrency trading experience and blockchain technology.