Trading On Cobinhood, Plus Checking Out Their Coins And Freebies.. Part 2 Of My Review.
A few days ago I introduced a crypto exchange that doesn't seem to get much mention, but is actually pretty special.. It has zero trading fees for starters! Let's look at some other nice touches...
Sharing!
First up, I am not in communication with or being paid by the team at Cobinhood - however, if you like the sound of the exchange, then it would be great if you'd use this link to join up and use their service as it includes a referral code that will result in both of us receiving free tokens at Cobinhood!
Making a Trade
So I have now sent some ETH from another exchange into Cobinhood and just like other exchanges, the tokens appeared
in my wallet right away (Note: Binance delayed my deposits by days initially!).
I have made a couple of trades, buying up some cheap, new tokens that caught my eye: namely, INS and DXT. More on those later. The trading was flawless and quick, with an easy to use interface:
I was able to fully customise the graphs to display exactly how I want them to (although I haven't yet figured out how to save my preferences).
The list of coins on offer is fairly interesting too..
The Coins!
Trading pairs are split between BTC pairs, ETH pairs, USDT pairs and COB pairs. COB is Cobinhood's own token which, a bit like Binance's token offers benefits should you hold it and use the platform.
There are roughly about 30 trading pairs for BTC and ETH each and about 20 pairs for USDT - while COB only has one currently.
There are actually only a handful of coins that I recognise in the list, including BAT, GAS, DRGN, NEO, MANA, OMG, QTUM & EOS. I like that they have EOS listed and it would be really great if they added STEEM and SBDs too! ;)
I find the range of new coin options exciting as I have been a bit tired with the limited range at bitfinex and am particularly interested in looking for new coins that might do well.
The two that I picked are quite different to each other and I haven't had time to look through the others yet, so maybe I will go for some more soon too.
INS - Is a token to support a blockchain that is intended to provide a way to buy groceries directly from the suppliers, cutting out the middle man of the supermarkets! I love this idea a lot - particularly since supermarkets tend to heavily control the products they sell, forcing conformity and limiting free choice. They put a lot of effort in recent years into destroying smaller competitors and now the actual producers stand a chance of destroying them! I can imagine a time when we can all grow food organically at home and sell our spare produce via a blockchain for courier delivery! Amazing!
DXT - DataWallet is a service that appears to be capitlising on the recent privacy law change in the EU, whereby they secure your online data in a wallet which you can use to log in to other websites and services, only allowing them access to the bits you want to share. Their 'decentralised data exchange' appears to allow you to be rewarded for allowing companies to access your data, instead of them capitalising from your data with you having no say in the situation. Interestingly the website mentions that it is working with Steemit, but I have not yet found out how - there is no mention of steemit in the whitepaper.
FREE Stuff!
Another interesting feature of Cobinhood is that they provide a 'fruit machine' that gives you free tokens as a reward for certain actions such as referring other users.
They offer daily contests and tickets for the 'candy machine' as prizes. The contests are pretty simple, you generally just need to make a trade of some kind.
So far I have only made about $0.40 worth of tokens from about 10 spins of the candy machine though, so don't expect to retire from it! In theory though it may be possible to hit the jackpot and win 1 BTC!
Next in Part 3 - I will look at their ICO services and their COB coin - plus reach a conclusion on the important question - is COB undervalued? Stay tuned!
Wishing you well,
Ura Soul
Disclaimer
This shall not be taken as financial advice. I am not a financial advisor and none of your investing should be carried out based on any information presented here. You can lose all of your money investing in crypto currencies. The information above is for educational and entertainment purposes only.
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Finally ... I signed up
Thanks man! this work is so great!
It would be great if you could also take a look at the following:
You are welcome!
Sure ok, Part 3 will be a summary and comparison to other exchanges - as suggested.
The article is interesting, although the trade of cryptocurency is very volatile but I like it. Lastly I lost half my money on the local exchange. I would consider joining Cobinhood. But after I get my money back.
I'm also selling my farm, the money will be invested in cryptocurency.
Have a good day, sir.
Encouraging to see the growth and to see different exchanges offering different perks.
Signed up using your link... now I have to deposit something!
Are they decentralize exchange because of the recent government interference and hacking of exchangers, investors are now moving into decentralize exchangers to protect their investment
decentralisation is generally a good move, I'm not sure of exactly their motives
The free stuff got me. Who does not like freebies? I think rewarding users is a great feature of any decentralised system.
That's different than Robinhood's crypto trading, isn't it?
Zero fees? I am sold already.
I really love the idea of cutting out the middle man,
and if INS can do that, I think it will be a force of nature
in the crypto world (in the long-term).
Although it always sucks for the middle man,
as a consumer, paying more than I need to for something,
is not ideal.
Cool!!!