Cryptocurrency Exchange Woes, Any Standard?

Anyone who is long enough in the cryptocurrency world will discover the hard way that trading cryptocurrencies such as bitcoin happens in an online Wild Wild West where sheriffs are largely absent.

The SEC says that many of these cryptocurrency exchanges are mainly unregulated and can do whatever they want with your money.

Some of the freewheeling exchanges are plagued with poor security and lack investor protections common in more regulated financial market.

Even more popular crypto-exchange like Binance had users recently expressed concern that they could not log into their account.

Yet, it is not ‎‎uncommon for crypto exchanges to be targeted by hackers and a ‎‎failed hacking attempt is always a possibility as well.‎

Though most of those compliants were later verified to be the result of  exchange wallet maintenance or technical issues, the lingering fear of exchange being hacked is always there.

Most traders should seek a platform that uses two-step authentication during login, such as a password and quick-expiring code taken off a cellphone app.

Even for the better exchanges, customer support is a big issue. It can be “nearly impossible” to get technical or login issues resolved within a few days by the exchange support.

Besides the above, most traders would prefer to have the following:-

• low trading fee for each transaction
• a safeguard against a “flash crash,”
• a reliable platform, operates smoothly when trading volume is very high or trading price is volatile

KuCoin is one of the many cryptocurrency exchanges available for those in search of a modern and secure platform to trade between cryptocurrencies.

kuCoin was founded by a group with a passion for the blockchain who had already built up strong reputations at industry giants, such as GF Securities, Ant Financial, Youling, Jianbang Communication, and iBOX PAY.

Kucoin’s team has already proven itself, and the exchange has gone off without a hitch since its launch in 2017.

It is rare that sponsor of a cryptocurrency exchange seeked token holders’ view, prior to its launch, on the following:

• Apart from the major tokens like BTC, ETH and of course TIO, which 5 tokens would you like to see listed on the trade.io exchange?
• List the features / functionality from any exchange you have used that you love ❤
• List the features / functionality from any exchange you have used that you hate ☹️

The result of the survey will be incorporated in the coming exchange (scheduled for beta release on 07 May, 2018). The full live launch of the exchange will commence after they are satisfied with the testing phase (which could take from a few weeks to as much time as needed).

Other components such as trading platform, dashboard (member area) and e-wallet are scheduled for operational release around the same time.

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The above are managed by trade.io experienced team in fintech, investment banking, trading, and blockchain technology.

Management team has led tech companies, startups, consulting firms, and been senior management at public companies including NASDAQ. 20+ years in investment banking including advisory, fundraising, IPOs and listings and M&A.

Regards,

Reuben Ong

Disclosures:-

1. The above is not a financial advice.
2. I own some trade.io TIOx and KuCoin KCS tokens and
3. I’m also one of its affiliates.