Cobinhood Exchange Review: Products and Services, COB Token and Team
Cobinhood exchange is a zero fees cryptocurrency exchange that provides a secure and user-friendly trading experience for conversions between various digital cryptocurrencies.
Cobinhood also offers margin trading up to 10x leverage. Precisely, Cobinhood does not charge trading fees for both spot trading and margin trading. How does Cobinhood generate revenue since they are not charging trading fees? Cobinhood uses a percentage of the funds they raised during their ICO to maintain the exchange. In addition to that, Cobinhood provides underwriting services for big ICO projects as one of their key services. By assisting high profile projects to successfully run their ICO, Cobinhood earns 5% of the funds raised which they use to maintain the smooth running of the exchange. The idea, as the name implies, is to take from the rich and give to the poor.
Trading on crypto exchanges have security risks that are of great concern to traders, especially with the increasing news of exchange hacks and some exchanges who suddenly disappear with user funds. Another challenge is the high trading fees that most crypto exchanges charge which sometimes leaves nothing tangible for traders at the end of their trades. Poor customer service is also prevalent in both centralized exchanges and decentralized exchanges and customers are getting used to waiting for days before getting a reply. The cryptocurrency trading options on some exchanges are limited and this does not suit traders who want to trade various crypto pairs. There are also very few exchanges that have the option to trade in fiat as an option to trading some highly volatile coins. Real-time trading is also a challenge for many exchanges due to their slow order matching engine that causes delay of trade executions.
Cobinhood team created a cryptocurrency exchange platform with traders at heart. Their zero trading fees strategy is interesting and very alluring to traders who are tired of paying exorbitant trading fees. Cobinhood has a high security measure put in place to secure user funds. They use an offline multi-signature vault that requires 5 out of 8 geo-distributed hardware security modules to assess funds. Funds that are kept online are backed by insurance to enable users recover their money in case something goes wrong.
Cobonhood is built in a highly scalable way that will enable it to handle millions of new users. They also provide a high performance order matching engine for quick execution of trades. The order matching machine can process millions of orders with sub-millisecond latency which enables traders to trade in real-time. Cobinhood accepts deposits and withdrawals using fiat. This is convenient for traders who would rather trade with fiat for low volatility reasons. It is noteworthy that KYC verification is required to trade in fiat and there are no limits for fiat deposits and withdrawals.
Cobinhood also provides detailed tutorials for newbies who are yet to fully understand cryptocurrency and for old-timers who simply want to refresh their memory. The crypto community can also learn about different cryptocurrencies and news updates through the Cobinhood crypto market information pages. There are also various options of cryptocurrencies available to trade on the Cobinhood exchange. Cobinhood has a customer support service that is available 24/7 to assist users anytime they need to.
COB token was issued by the cobinhood team in order to raise funds to kick-off the exchange. It is an Erc-20 token built on the ethereum blockchain. This means that the COB token can be stored in any Erc-20 compatible wallet such as Myetherwallet, Imtoken, Metamask, etc. It can also be stored on the Cobinhood exchange. There are many incentives for holding the COB token.
Traders get 50% off the interest on a margin trading loan if they pay with COB tokens. COB token holders also receive different tokens from projects that Cobinhood performs underwriting services for. Also, when Cobinhood is assisting a blockchain project to run their ICO, COB holders get discounts if they participate.
COB token has a 1billion total supply and currently its circulating supply is 384million+ with a market cap of over 9million USD. Presently, you can buy COB tokens on the official exchange or Mercatox exchange.
The CEO and founder of Cobinhood exchange is Popo Chen who is a cryptocurrency professional, serial entrepreneur and owns a masters degree in electrical engineering. Before founding Cobinhood, Popo Chen launched a live streaming media platform that boasts of 5million+ daily users. The co-founder, Wei-Ning Huang has years of experience working with google as a software engineer and a lot of experience in the open source field. The primary advisor for Cobinhood is Tony Scott, former U.S. federal chief information officer. There are also more professional team members and advisors who make up the Cobinhood team.
The team would be present at the Southeast Asian Blockchain Summit 2018, a 2-days conference and exhibition with over 1000 attendees, to be held on the 3rd and 4th of November in Jakarta, Indonesia. Various popular stakeholders in the blockchain industry, business decision makers, technological innovators and investors will be present at the event. The summit will feature over 60 speakers experienced in blockchain technology. Some of the topics to be covered at the event include: Token economics and regulations, current developments and future potentials of blockchain technology in Southeast Asia.
Cobinhood exchange addresses the limitations of many cryptocurrency exchanges by providing a zero-fees exchange, high security measure for user funds including insurance of funds, high scalability, fiat trading, various crypto options, detailed tutorials, real-time market information, 24/7 customer service and a user-friendly trading experience on web and mobile app.
To find out more about Cobinhood, please visit the official website or any of the following social handles: