The acceptance of cryptocurrencies and the rise of crypto-economy has opened new gates for trade and business. Therefore, arises the need of exchanging one cryptocurrency for another, buying and selling of coins, and the exchange of fiat money into crypto. This is why Crypto Exchanges were born. In a decade long journey of cryptocurrencies, crypto exchanges have tapped into a vast market. These exchanges have created vast pools of demand and supply.
What is Crypto Exchanges?
Cryptocurrency exchanges (Digital Currency Exchange) are online platforms which enable crypto traders and enthusiasts to exchange one kind of digital asset for another based on the market value of the given asset. Crypto exchanges work similarly to regular stock exchanges. The only difference is that Crypto exchanges not only charge brokerage commissions for facilitating currency trades but also hold on to an investor’s assets. While on a stock exchange, traders buy and sell assets (shares or derivatives) to profit from their changing rates via fiat currencies.
IEO over ICO, the gradual transition
ICOs were the trend in 2017-18 using which, Blockchain projects managed to raise $11.4 billion in the year 2018 alone. However, the lack of credibility and no value output of some projects led to the fading of the overall ICO trend.
IEOs became the new way to ICO where the exchanges took the responsibility of verifying the credibility and authenticity of the Blockchain projects they endorse.
What exchanges are supporting IEO with Wallet?
Initial Exchange Offering is a tokenized fundraising method in which the tokens of Blockchain projects are sold on the exchange’s platforms, and their coins are listed after the IEO is over. Many crypto exchanges have started to embrace IEOs after its tremendous growth.
Binance: Binance was one of the first in line to embrace IEOs on its IEO platform Binance Launchpad. The platform also launched its official Trust Wallet on its decentralized trading platform Binance DEX in early June 2019. The Trust Wallet serves as a wallet for multiple cryptocurrencies and also, provide users with access to decentralized applications (DApps) that can be accessed via the wallet’s mobile or desktop version.
OKEx: OKEx announced its first token sale via an IEO in March 2019, for the BLOC token, on their newly-presented OK Jumpstart token sale platform. OKEx has recently developed a decentralized exchange (DEX) on its own blockchain. The OKEx wallet offers multi-currency storage with the ability to manage assets for different businesses.
COSS: Abbreviated for Crypto One-Stop Solution, COSS is One-Stop-Shop for everything related to Crypto. COSS provides a platform for innovative blockchain projects to launch their IEOs and promotional trading campaigns. COSS also offers marketing services to the IEO projects and help them design their marketing campaigns and strategies with the assistance of IEO experts on-board of COSS Group. It is different from other IEO platforms as it helps Blockchain projects reach a wider audience by integrating the IEO platform on its wallet app as well. The COSS Wallet is a highly functional, user-friendly, and secure cryptocurrency wallet that is preferred by the masses.
The popularity of the wallet is due to the plethora of features it offers, which includes multi-cryptocurrency storage, supporting nine different Blockchain networks and twenty-one ERC 33 based tokens.
The COSS Wallet gives users complete control over their cryptos along with providing token utility by offering multiple services like Money transfer, Mobile Top-ups, and utility bill payments via cryptocurrencies. It is one of the most secure crypto wallet offering multiple layers of security before giving access to the user. The Blockchain wallet also has unique features of facilitating in-wallet coin exchange and nearby crypto transfer via GPS. The wallet offers trader empowering feature ‘COSS Star Rating’. So, whenever you achieve a star rating, the wallet rewards you with COSS Plus reward points.
Bitfinex: Bitfinex allows users to trade in 21 digital currencies. On the Bitfinex platform, cryptocurrency trade does not require verification whereas fiat deposits and withdrawals require user verification. Bitfinex partnered with Ethfinex, announcing the creation of a new Initial Exchange Offering (IEO) trading platform, Tokinex in May 2019. The Crypto exchange does not have an e-wallet but offers a cold wallet to its customers. The blockchain platform was hacked by malicious hackers in 2016, thus raising a few security concerns about the exchange.
Bitmax: Bitmax crypto exchange offers users with access to 137 trading pairs and 57 coins. The digital asset trading platform does not offer an e-wallet to its users. Also, exchange reviews reveal that Bitmax platform has specific security issues such as low password requirements and an absence of bug bounty programs, which could help strengthen its cybersecurity.
Customers today have hosts of crypto exchange platforms to chose from, but every exchange needs to keep in mind that each user has unique needs. COSS is one of the best crypto exchange in the market, offering multiple facilities to their customers. The COSS crypto exchange offers the most convenient and attractive user interface with hundreds of actively-traded token pairs.
Not just that, the marketing services offered by them along with the wallet integrated IEO platform makes it one of the best option to choose from.