KUBITX: A SECURED AND USER FRIENDLY CRYPTOCURRENCY EXCHANGE
bosunbossman
When Bitcoin, the world’s first decentralized currency was created, it became popular and well known in 2009. Since then its value has seen tremendous growth.The birth of bitcoin led to several hundreds of cryptocurrencies, though the main idea behind cryptocurrency is to secure and anonymous way to transfer currency from one person to another. To further develop this anonymity, Satoshi Nakamoto developed a digital ledger of bitcoins transactions called Blockchain. However, the influx of people into the market has made an astronomical rise of cryptocurrencies like Bitcoin and Ethereum, hence made cryptocurrency market popular.
What Really Is A Cryptocurrency Exchange?
A cryptocurrency exchange is a platform where traders buy and sell digital asset. It is also an exchange where you can buy and sell or exchange one cryptocurrency for another one or fiat currency. An exchange is an important link in the cryptocurrency industry; it is a place for people who want to trade/invest in cryptocurrencies.
Nevertheless, trading cryptocurrencies on the other hand has been another barrier which many are also yet to understand. Many often time people get scared due to the risk involved in trading cryptocurrency. It is a known fact that many of the current exchanges are not making trading easy for old/traditional investors to come on board. A lot of exchanges are being created day by day but with all sorts of problem. Problems like lack of insecurity for investors’ fund, market manipulation, lack of liquidity and lack of awareness.
CHALLENGES FACED BY CRYPTOCURRENCY EXCHANGE
· Market Manipulation: The lack of regulation on the way trades are being operated on exchange as caused market manipulation of prices, this is common in so many exchanges and it is seen to be one of the major challenges faced by exchanges. These manipulations are done by whales; they pump and dump coins for their own benefit.
· Security Issues: Security issues have been the talk of the day, it is the biggest threat to cryptocurrency exchanges, many often times exchanges face security issues because of hackers who sends all sort of Trojans and malicious links to affect exchanges which leads to many investors fund been stolen.
· Lack of liquidity: This is also a barrier to exchanges, due to lack of liquidity, sometimes orders are not been quickly placed because of low supply and demand of some coins thereby leaving traders to wait for required buyer/seller to arrive on the exchange.
· Lack of good customer support: Another major setback is the lack of customer support. Many often times users complain of bad user experience due to the non-responsive customer support provided by many exchanges. This is caused by lack of efficient and effective management staff to handle loads of request.
To solve the above mentioned menaces, KUBITX was born to help proffer solutions by creating the most advanced and large cryptocurrency trading platforms designed to make trading easier and accessible to users while educating people of different field of professions and businesses around the world to embrace blockchain technology and invest in cryptocurrencies.
UNIQUENESS OF KUBITX EXCHANGE ECOSYSTEM
The KUBITX ecosystem comprises of the KubitX trade engines, the secure Kubitx wallets and an advanced Admin dashboard for regulating the trade activities within the exchange, providing regular baking services through the financial service providers and also creating an ambassador program to help create awareness and adoption. The kubitX aim to is to make sure that people engage in cryptocurrencies and embrace blockchain technology.
The kubitX team with bunch of professionals and talented team with significant work experience have come together to develop the Kubitx exchange ecosystem so as to stand out from other exchanges, below are the main improvement:
- Processing Speeds: With the use of Golang and the advanced architectural design, Kubitx aims to start with transaction speeds of 12m+ (million) per second with an aim to upgrade to even higher transactions per second milestones, compared to other exchanges of 1.4m average speed processing.
- Fiat deposit and withdrawal: KuBitX with extended partnerships with payment services providers will assist users in fiat deposits and withdrawals.
- Customer Support: KubitX exchange ecosystem aims to offer 24hr online customer support to help users resolve issues. Kubitx also plans an amount of its fund allocation towards strengthening its customer support.
- Ease of use: The kubitX exchange will be user friendly; the exchange will also offer a seamless integration of the user with the overall framework of the exchange and its functionality. New beginners will be able to participate and trade within the exchange.
- Multi-Lingual: The kubitX exchange will offer 5 different languages which will help users to benefit from the services offered by kubitX.
The broader areas upon which the vision of KubitX has a focus upon are:
- With the innovation of the KubitX Global Channel Ambassador, it will help educate people about Blockchain technology and thereby enhancing adoption by masses
- With the innovation of the Anti Market Manipulation (AMM) tool on the KubitX platform, liquidity will be improved and the cost of transaction will also be reduced.
- KuBitX has designed customized security architecture to ensure encryption keys are stored very well and Secure offline multi-signature cold wallets/vault system.
- KuBitX will educate people how to take advantage of Blockchain philosophy thus enhancing financial institution.
- KubitX will be creating opportunities thus developing the economy of the emerging market.
KBX TOKEN
KubitX will be issuing a fixed supply of 500,000,000 Kubitcoin (KBX) tokens which are based on the ERC-20 standard. KuBitcoin (KBX) token is a utility token which can be used as a method of payment for the trading fee. The token can also be used for payment of incentives and rewards within the platform.
TOKEN INFORMATION
Token Name: Kubitcoin (KBX)
Token Type ERC-20
Total Supply: 500,000,000
Price: 1 ETH = 8,909.09 KuBitcoin(KBX)
Currencies Accepted: ETH
Soft Cap: 10,000 ETH
Hard Cap: 25,000 ETH
Pre-Public Round Bonus: 20%
Public Round Bonus: 10%
Unsold Tokens: All Burned
TOKEN ALLOCATION AND FUNDS DISTRIBUTION
ROADMAP
THE TEAM AND ADVISORS
PARTNERS
CONCLUSION
Conclusively, Kubitx exchange will be making trading faster, easier, and more secured, it will also help in educating people on the benefit of investing in cryptocurrencies which will help improve the adoption of blockchain technology.
For more in depth knowledge about the project, please visit the below website:
Bitcointalk username: bosunbossman
Bitcointalk profile link: https://bitcointalk.org/index.php?action=profile;u=1197648;sa=summary