Coinvest, a new decentralized, blockchain-based cryptocurrency stock exchange, aims to fully decentralize the process of investing in cryptocurrencies and announces their ICO beginning December 11th, 2017.
Cryptocurrency exchanges are extremely useful tools and act as cryptocurrency stock exchanges, but one thing about them is troubling. That is the lack of decentralization used on these platforms. Imagine all of your savings in bitcoins and their private keys in the hands of other people who can control it directly or indirectly. That’s what happens with cryptocurrency exchanges around the world including big names like Coinbase, Bitrex, and others.
Coinvest is a new decentralized cryptocurrency stock exchange based on the blockchain that aims to fully decentralize the process of investing in cryptocurrencies. The new token is COIN, and it will populate the new decentralized platform. The Coinvest team is predominantly full of ex-Microsoft employees who have jumped ship to work on cryptocurrencies and decentralization. It is true that Microsoft is one of the few big corporations that has always had a soft spot for cryptocurrencies, and they even allowed payment directly with bitcoin in some services on Xbox.
Perhaps there is a growing acceptance of bitcoin and other cryptocurrencies in Microsoft, and these alumni are out here to make it all happen. Their mission is “Creating decentralized tools for the world to seamlessly, securely, and safely invest and use cryptocurrencies.”
That seems like the motto of every cryptocurrency exchange ever created, but these guys are aiming to provide an end-to-end solution for the public that is entirely decentralized. They want to make mechanisms for safe, secure, and seamless investment of cryptocurrencies and also to empower any person to create a personalized index for crypto assets in one platform alone using one wallet.
Crypto enthusiasts like to use different wallets for storing different cryptocurrencies, and it is inadvisable for people to store large sums of cryptocurrencies in one wallet, especially on an online trading forum like a bitcoin exchange. Coinvest aims to create a one-size-fits-all approach for all cryptocurrencies in a single wallet that is secure and works for all. They believe that the days of having different wallets for different cryptocurrencies are behind us.
There are two main parts of the product portfolio of Coinvest. First, there is the Coinvest Protocol that defines investment transactions between different parties, and supporting the protocol is the Coinvest Decentralized Autonomous App (DAPP). The DAPP allows any user to invest in individual currencies or in a curated index of cryptocurrencies that he himself has selected with one coin. These are executed by the COIN tokens of the Coinvest platform that are sent and then held in escrow by the Coinvest Network.
When a user executes sell orders, the smart contract releases all the invested funds and sends any possible profits back to the Coinvest DAPP. Users can then spend cryptocurrencies directly from their Coinvest wallet or debit account. The best part is that all of these transactions are completely automated, and nothing is ever touched or managed by a third party or support department. The Coinvest DAPP aims to decentralize all control involved in a cryptocurrency exchange, and if they succeed, they will be the first ones to achieve this in reality.
Coinvest aims to reduce the cost, risk, and complexity associated with cryptocurrency trading and eliminate organizational handling of your cryptocurrencies and their private keys.
The ERC20 native token, COIN, will soon undergo pre-sale and then enter the main ICO. The pre-sale cap is 1.2 million COIN, and the ICO will have a hard cap of 30 million COIN. The price for each coin is set at 1 ETH= 300 COIN, and that almost comes equal to $1. There is a 50% bonus in the pre-sale, and it will start on December 11, 2017. Interested backers can find out more information below:
Coinvest Website – http://coinve.st/
Coinvest is the world’s first decentralized stock market for cryptocurrencies. Coinvest empowers anyone to virtually invest in individual or a curated index of cryptonized assets through one coin. The company’s mission is to create decentralized tools for the world to seamlessly, securely, and safely invest and use cryptocurrencies. For more information about Coinvest and the COIN token, please visit: http://coinve.st
Images courtesy of Coinvest.
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