Recently I discovered a new cryptocurrency trading platform, which will host its ICO on September the 15th. This new player is called Ushba. The so called "next generation cryptocurrency trading platform" have a strong unique selling proposition. They want to pay dividends to token holders. Ushba also wants to offer new comers a beautiful and minimalistic interface in order not to repel non-technical users.

What does Ushba trading platform offers ?

P2P TRADING

Meaning that Ushba doesn't hold any money directly and just serves as a true exchange platform between two customers.

FIAT EXCHANGE

Ushba wants to allow Coin-to-fiat and fiat-to-coin direct transactions which means that one wouldn't need to exchange every altcointo bitcoin in order to buy a fiat currency and vice versa. This concept would supposedly decrease the number of transactions the user has to make, lowering the transaction fees and allowing altcoins to have their own value.

COLD STORAGE AND SECURITY

Ushba would offer every modern security like regular exchanges : 2FA (Two-factor Authentication), Bot protection, DDoS protection, login notifications (with IP address included), immutable session history and hardware keys.
Moreover it would Ushba claims that users could decide to keep they funds in cold storage, with a withdrawal timeframe of 24H.

CLOUD MINING

You don't have the money to invest in an expensive mining equipment?
Well Ushba apparently has you covered as the new exchange offers users to invest in miners and get paid on a daily basis, without having to take care of electricity costs, noise, and cooling systems. Their whitepaper isn't very specific on the type of packages we could obtain through this service.

AUTOMATION AND ALERTS

The exchange wants to offer the possibility to automate your trades through configurable trading bots. An innovative idea, that most of current platforms lack terribly. Ushba also wished to enable notifications on every risky activities.

DASHBOARD

A slick dashboard would provide the users with all sensitive news related to their trades.

DIVIDENDS

As stated before, Ushba offers to remunerate token holders with the profits of the exchange.
It does look smooth doesn't it. An exchange that pays you dividends?!

Let's take a clear example. During the ICO Bob decided to make an investment in Ushba and purchased 100 UBC which is worth $1,000, and is 100/1,000,000UBC of the company’s value. After the release of the trading platform, during the first month, Ushba’s profit was $1,000,000. During the payout Bob received $100 worth of Ethereum from Ushba’s smart contract, which is his dividend and is proportional to his initial investment. Bob now owns 100 UBC which he bought during the ICO and also has $100 worth of ethereum from Ushba’s profit.

If you want to find more information about the project, check their whitepaper : https://ushba.io/whitepaper.pdf

The review

✅ Positive ✅

• An exchange paying dividends to its user base is definitely an excellent idea.
• Slick UI mock up.
• Low coin supply (only 1.000.000 coins)
• Cold storage available in less than 24H.
• Dashboard with sensitive news related to their trades/assets
• Configurable trading bots

⛔ Negative ⛔

After digging a bit deeper through the website, their whitepaper and all affiliated documents (Facebook, news,...) I found the following points that I personally dislike.

• For an exchange trust is key, and I don't the team yet. None of them have a Linkedin account which is never a good sign.
• 1 UBC = 10$ That seems pretty expensive to me. Even though there is only 1.000.000 coins in circulation.
• After the first 150.000 tokens sold, the price to buy in the ICO will rise from 10 to 50$?!
• Only 300.000 coins will be for sale during the ICO. What about the remaining 700.000 coins?
  I guess those coins will stay in the hands of the team even though it's not clearly stated anywhere. If yes, that's a definite red flag for me unfortunately.
• The project seems to be very recent (ICO announced on 17th july) but already has 11K followers on Facebook, which looks fishy considering that even famous token/coins or ICOs often struggle to reach 1K+ followers.
• The token distribution takes place more than 2 months after the ICO.
• Wouldn't those "cloud mining service" favour the centralisation of mining?

Alright guys let me know what you think about this new project and don't hesitate to comment it here.