Year 2016 would be marked as the First Milestone in the world of cryptocurrencies when Bitcoin reached a spectular all time high from 800$ to 20.000$. This spectular hike in Bitcoin motivated many other cryptocurrencies to come into existance which we can see these days , also lead to attention of many investors as well as traders to step into the world of cryptocurrency. Hence give birth to many Crypto Exchanges
Problems With The Exchanges Today
To understand this we have to understand the type of crypto exchanges currently existing in the world are of two types:
These are the ones in which the traders have to do KYC (Know Your Customer) in order to withdraw your funds from the exchange or the customer is bound to do KYC to avail one or the other facilities provided by the exchange.
As the name suggests, these exchanges donot asks the customer to do KYC, at the same time the other facilities provided by these exchanges is also very limited.
The above describes the exchange technically. Now lets see how to describe exchanges Professionally
Professionally any exchange could be marked in with one of the two categories:
The Big Players
These are those exchanges which do not care about there users or customers and even not worried about there credibility in the market at all. All they are worried about is maximising there incomes by listing of coins which pay them high for listing or by charging high trade fees from the customers. In a nutshell all they care about is themselves and there way of earning Fiat. Leading to SCAMS
The Big Players
These are the exchanges which believes in customers as King or Queen and always listens to them and try to figure out the problem they have at there best level. One can trust on these excahnges to some extent.
However if we talk about transparency & security one will think many times before investing their hard earned money to any exchange. By transparency and security I mean:
Are they real companies?
Are they regulated?
Do they have plans to support FIAT?
Do they have any bank account?
Where are they based?
Are their platforms really safe?
Is there any insurance for our money in case the exchange gets hacked?
Can we talk to someone in a live chat?
Can we call them in case of emergency?..etc
Keeping all of these questions in mind Cryptonity come into existance, with aim to providing the most comprehensive, secure, transparent and collaborative exchange platform in the market.
The Key Objectives
The exchange is primarily formed by group of several traders and miners who are professionals in there respective fields and have concrete knowlege and skills for building the exchange platform. So the objectives includes:
Providing most secure exchange platform with group of best known security experts in the market, auditting twice a year by group of independent companies and posting audit results on the website to maintain transparency.
To setup insurance policy for customers in case of losses if the excahnge being hacked by some anonymus group.
To estblish collaborative interaction with users by various communicating channels and by getting the customers involved in better evolution of the platform by taking opinions on various topics of concern.
To Provide customers Comprehensive and Ergonomic Tools for trading on the platform comfortably.
Cryptonity Token (XNY)
The exchange will release its own token with the name Cryptonity Token and the exchange is planning to prepare its own blockchain in the near future.
The total allocation of the token will be 100 Million and it will remain fixed and the price of the token will depend upon its utility which is a good thing compare those who decrease the coin numbers by burning them in order to gain popularity among the community.
The allocation of the token will be as follows:
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