The crypto and blockchain scene is truly a dynamic one, ever since the appearance of Bitcoin has shifted the way money is used and spent, with brokers and trading services experiencing record-breaking numbers. Why are cryptocurrencies remodeling the finance world so vigorously? The main reasons are: decentralized data, blockchain technology, low fees and versatility.

The Major Impact of Decentralized Data & Blockchain Technology

Due to recent economic strife, people are generally more hesitant and even reluctant when it comes to relying on banks and institutions. Unlike centralized ledgers, where there is an authority that keeps track of everybody’s financial activity, a decentralized system goes against the current, replacing everything that today requires a centralized leadership, from businesses and services, to governments.  All of this is possible since the introduction of blockchain technology.

A blockchain is a digitized, decentralized, public ledger of all cryptocurrency transactions. It allows market participants to keep track of their digital financial activity without needing the use of central recordkeeping. All online activities are arranged into chunks of data named blocks, which are linked to one another forming a block chain. Basically, this system reinforces transparency, builds trust and makes transactions more secure. Since its emersion, blockchain technology evolved, and other features appeared, allowing different cryptocurrencies to be launched.

A notable example is Cobinhood, which has embraced all the benefits of this cutting-edge technology focusing on how to maximize traders’ profits, providing a decentralized exchange system and a Daap center, transparency and real-time trading in support of businesses everywhere.

Low Fees and Versatility

In order to properly understand multiple sides of digital money, some basics need to be covered. In a nutshell, cryptocurrency is an online currency that is not controlled by any government, not even a single company, and the monetary value is higher than in the traditional context. This leading-edge concept opened up the world of ICOs and digital currencies like Bitcoin, Ethereum, Cobinhood and many others.

The cryptocurrency market cap grew by more than 1,200% in 2017 with Bitcoin and Ethereum being the dominant participants in these colossal gains. For the year, Bitcoin and Ethereum posted returns of 1,318% and 9,162%, respectively.

However, right now, there are over 4500 crypto coins circulating around, and each was designed to serve a specific purpose, making the dominant digital coins take side roles. For instance, Monero focuses on privacy through its ring signature technology, being ‘secure, private and untraceable’. Ripple, on the other hand, is actually a real-time gross settlement system, currency exchange and remittance network, that focuses mainly on bank marketing.

What do these digital currencies have in common? Low transaction fees. Since no one likes paying fees, this is a major driving factor for people to join the crypto world. Banks charge a lot for holding money, or making money off of an investment, giving nothing in return. With virtual currencies, the financial part is drastically improved.

Consider that on average, the top 30 crypto exchanges charge 0.2% trading fees, which impact traders’ profits greatly. But it can get even better. If you are wondering how, a new crypto is grabbing all the attention by introducing 0 trading fees – Cobinhood.

Solving Existing Problems of Virtual Exchanges

The CEO, Popo Chen, explained that before launching this platform, he looked into the real issues impacting the current online exchange system, and found problems regarding low liquidity, real-time trading, asset security issues, shutdown without warning, low FIAT currencies, and many others. His main goal was to introduce Coinhood to show that all these issues can be solved in a professional and responsible manner, additionally bringing in the bonus feature – 0 transactional costs.

But how can they take care of the previously mentioned obstacles? Through the right features, which, according to the project’s white paper, include: 100% reserve guarantee, offline multisig wallet security system, crypto assets backed by insurance, distributed order matching engine, along with a wide rage of FIAT currencies supported.

Since Cobinhood is capable of high-frequency trading, it will stimulate large investments banks, hedge funds and institutional investors to enter the crypto trading market, revolutionzing the trading ecosystem – another major goal behind this business.

In a vast and uplifting context, Cobinhood plans lead the way clearing unwanted issues, bringing in upfront solutions, and a ‘YES, it can be done’, even with zero trading fees. If you are interested in finding more details about Coinhood, have a look at their.

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