Cryptonity : The Exchange For The Community
About the project
Crypto currency is experiencing serious shocks and it is difficult to choose a worthy project. But today my mind was drawn to the project .the Anna project is a cryptocurrency exchange, which includes a full set of tools for convenient trading of crypto assets. When creating this platform, the developers aim to improve the current system of cryptocurrency exchanges in all possible ways.
Also, the developers allow each user of the platform to use unique tools to ensure complete security of customer funds.
Today, there are several types of cryptocurrency exchanges on the market, representing large and small players. If we talk about small exchanges, then it is worth noting that they categorically do not care about their customers and they do not depend on the user's opinion about themselves. There is no mutual connection between the exchange and users. The main thing that they really care-so it's making a profit and all. Basically, all transactions made by the exchange remain in the shadow, therefore, customers can not trust such an exchange. Large amounts are charged for listing a particular coin.
As for the large crypto-currency exchanges, then you should focus your attention on the problems of regulation, the reliability of the existence of the company itself, the presence of any Bank account and Fiat support, as well as security problems and the availability of insurance in case of theft of funds, the presence of any feedback from the technical support of the exchange
It's no secret that decentralized exchanges are the best solution for the crypto community. Why? Yes, because such exchanges do not have any intermediaries and they are based on smart contracts to ensure all transactions, which ultimately gives them a huge advantage over centralized types of exchanges. No centralized server. Each user is able to manage their crypto assets as he pleases. All of these qualities includes Cryptonity. The developers plan to create their own blockchain after the successful ICO token distribution procedure is completed.
Security is one of the main challenges facing the platform. The developers plan to create the most secure system, interacting with the most well-known experts in the field of security. The Cryptonity platform will provide its users with reports twice a year, which will increase their trust and make the ecosystem transparent. If there is a real hacker threat, the developers plan to create an insurance policy that will cover all the losses of the exchange's customers. To implement this, the developers plan to reserve about 7 million xny tokens in a cold wallet, the address of which will be available for everyone.
Maximum protection: two-Factor authentication (2FA), email login, all sorts of security questions and anti-phishing code, automatic PDF generation with 2FA QR code and key, and FIDO U2F security key.
Fiat Deposit and withdrawal via SEPA and SWIFT.
Market order, limit and stop losses.
Assistance in analysis and strategy selection.
POS-wallets and masternodes.
Participation in Airdrop and support for some forks.
Users who keep in its portfolio the internal token Cryptonity (XNY) will be able to obtain the lowest possible Commission when you trade on the stock exchange.
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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