IDG-backed cryptocurrency exchange KuCoin has just launched a crypto derivatives trading platform called KuMEX in public beta.
So far, initial exchange offerings are the hottest token fundraising trend of 2019.
Cryptocurrency exchange KuCoin has launched a beta feature allowing users to custody their own crypto assets while trading.
On Friday, the cryptocurrency community was met with a Medium article that puzzled many, quickly rising the ranks to the top of the crypto Twitter environment, as it claimed that KuCoin’s Hong Kong office was a sham.
“But why did an article gain such steam?” You may be asking.
Well, according to Jackson Wong, the author of said article, KuCoin’s Hong Kong office was nothing but a shell, advising users to be cautious whilst using the popular Asian cryptocurrency exchange. Although some were quick to shoot down this non-sensical FUD (fear, uncertainty, and doubt), as they saw it, Wong backed up his claims with evidence and photos of the location which KuCoin propagated as its Hong Kong location.
Firstly, the author highlighted previous information he had gathered on KuCoin, namely that the exchange was not operating out of Hong Kong as conflicting information made it seem. Reportedly, KuCoin touts that it is “home-grown” in Hong Kong, so the fact that local contacts Wong knew had never heard or uttered KuCoin was suspicious at the bare minimum and damning at the worst.
Eventually, his curiosity got the better of him, leading him to seek the registered office of the exchange.
As he arrived at the address stamped on legal documents, he noticed that something was amok. Immediately not seeing any signs of KuCoin, Wong checked the directory, that should be present on any respectable office building. To his surprise, there was nothing of interest on the board, with no Chinese or English characters indicating that the building (or any companies present) had any affiliation with KuCoin. While some would cast this off as a mistake, the skeptic went up to the floor where KuCoin’s operations should be residing, but again, nothing.
In its place was a company called Smart Team Secretarial. Trying to get to the bottom of this situation, the author turned investigator rung the bell at the door of this firm. While Smart Team employees weren’t there, a representative from another company answered the door, stating that she had never heard of KuCoin or any cryptocurrency company in the office building.
Remaining skeptical, the author wrote:
So where the heck is KuCoin? WOW. So it’s crystal clear now, guys. KuCoin has never been there and they lied to us the whole time. Wow, really? Wtf guys.
Concluding his article, the KuCoin critic bashed the exchange, issuing the following impassioned statement:
I don’t trust their exchange at all. They are just too shady. They told us that they have an office in Hong Kong. But that’s all a lie. No one’s even there! It’s completely empty. And most importantly, they don’t even have a Hong Kong licence to deal in cryptocurrencies… I don’t know what to advise. I just want all of you to be extremely cautious when you decide to deposit money into this exchange.
Community Backlash And A Warranted Response
Following the release of the apparent exposé, the official KuCoin Twitter account came under fire from users, resulting in the social media platform restricting the page. As a result of this widespread backlash, KuCoin responded near immediately, issuing a short, but sweet statement highlighting why the Hong Kong “office” was not there.
According to the statement from the KuCoin exchange, the Hong Kong office is empty, but it still used as a mailing address of one of the firm’s subsidiary firms. The statement later noted that its HQ is in Singapore, and is supported by other offices in the Philippines, Thailand, and China.
So, for now, this clarification has seemingly put a cap on this situation, as it seems that KuCoin is doing its best to act with good intentions, but neglected to let its users know the state of its office situation earlier.
KuCoin is proudly announcing that today they have listed another promising token CPC. CPC is the native currency of CPChain, a decentralized and trusted brand-new distributed IoT systems.
Deposits are now available with trading pairs such as CPC/BTC and CPC/ETC. Buying will start at 19:30 UTC+8 while Selling/Withdrawal at 20:00 UTC+8. Transactions can be done using KuCoin’s App or direct to their website at www.kucoin.com.
CPChain, found online at CPChain.io, strives to revolutionize the internet of things (IoT) ecosystem globally.
Illustrated as “The killer tech that the IoT industry has been waiting for,” CPChain uses blockchain to advance the usefulness of IoT networks. The term “CPChain” stands for “Cyber-Physical Chain.”
CPChain applies blockchain as a backbone for IoT. The blockchain is used to speed up, scale, improve security, and decrease transaction costs for the IoT industry.
How Does CPChain Work?
CPChain’s core innovation is to realize the transmission of value across cyber-physical systems. To do that, CPChain is creating a systematic scheme that addresses scalability requirements for the IoT industry. CPChain approaches those needs using blockchain technology, with blockchain technology being used to solve concerns like data storage and computation protocols.
The CPChain Team
CPChain has already collaborated with major industry names like QTUM, VeChain, and HPB. The company has also acquired investment from Torque Capital Partners.
Some of the key members of the team comprise Dr. Long Chengnian, Ph.D. (co-founder and principal scientist). Dr. Long is a professor at Shanghai Jiao Tong University. He has over 40 published compositions and has deep expertise in security, mobile IoT, MIMO wireless systems, and other technical IoT executions.
The other CPChain co-founder is Dr. Zhao Bin, Ph.D., who has 12+ years of research and development background across IoT, including four years of experience in the IoT department at Alcatel Lucent.
The current countdown to the EOS (EOS) MainNet launch reads 5 Hours, 9 Hours and 50 Minutes at the moment of writing this. At exactly 22:59:59 UTC on June 2nd, EOS tokens will become frozen on the Ethereum blockchain and the MainNet launch will occur shortly afterwords.
It is therefore with this background that Ethereum World News wanted to inform you of the known exchanges that will be supporting the token swap.
- Binance – The popular exchange made the announcement less than 8 hours ago that it will be supporting the token swap. EOS deposits and withdrawals will be suspended from May 31st, 0:00 am (UTC) and the swap will be initiated. The exchange also added two more trading pairs for EOS: EOS/BNB and EOS/USDT
- Bitfinex exchange reassured users that it will be managing all the technical requirements related to the swap to ensure a smooth transition.
- Kucoin exchange made the announcement via its twitter page and gave similar instructions of halting withdrawals and deposits on the 31st of May. The exchange also requested that you deposit your EOS onto their exchange as soon as possible for them to facilitate the swap for you. You can then withdraw your EOS once the swap is complete
- Cobinhood prides itself as being on of the few exchanges that do not charge trading fees for each transaction on the exchange. The exchange also announced it will be supporting the token swap just today
- BigONE exchange announced that it will be supporting the EOS swap two days ago on its website. The exchange has similar plans to suspend trading during the said time period
- Bitbns will be carrying out the token swap for its users with the exchange handling all the technical details
- Kraken made the announcement on its website that it will be supporting the token swap
- OCTBTC will also handle the swap on behalf of its users
- CoinSpot stated that they are ready for the swap
- OKEx will be also ensuring a smooth transition to the MainNet
- BitMart pledged its support for the token swap
- Mercatox will support the token swap together with all its technical intricacies
- Zebpay will be carrying out the EOS swap for its users
- and so will CoinDCX
Therefore, Ethereum World News has managed to find the above mentioned exchanges as the ones supporting the EOS token swap that begins on the 31st of May. All users are advised to transfer their EOS to these exchanges before then to facilitate easy token migration to the EOS MainNet.
EOS has formed lower highs and lower lows, trading inside a descending channel on its 1-hour chart. Price just bounced off the bottom and looks ready for a test of the top, which lines up with the 38.2% Fibonacci level at 13.58 and the area of interest.
The 100 SMA is below the longer-term 200 SMA to signal that the path of least resistance is to the downside. In other words, the selloff is more likely to resume than to reverse. However, the gap between the moving averages has narrowed to signal a potential upward crossover, and EOS has also broken above these dynamic resistance levels to reflect bullish momentum.
RSI is on the move up to show that buyers have the upper hand. Similarly, stochastic is heading north so EOS price could follow suit. However, both oscillators are nearing overbought levels to signal exhaustion among bulls and a potential return in selling pressure at some point. If so, EOS could find its way back to the swing low at 10.30 or the channel support.
EOS has a catalyst coming up in June, though, so there’s still a chance for a break higher. In particular, the Mainnet launch is scheduled next month, which means that:
“EOS Tokens will become fixed (non-transferable) on the Ethereum blockchain within 23 hours after the end of the final EOS Token distribution period which will occur on June 1, 2018 at 22:59:59 UTC. At this point the EOS Token distribution process will be complete and any person who wishes to launch an EOS Platform adopting the EOS.IO Software will be able to generate a JSON file mapping EOS public keys to the fixed balances of the EOS Tokens from the state of the Ethereum blockchain.”
KuCoin has officially announced that the team has completed the swap registration of the EOS MainNet Wallet and will also perform an automatic asset transfer for users, with guaranteed security deposit.
Oyster Protocol has announced an Airdrop for its Oyster Shell Token (SHL) on April 13, 2018, stating that KuCoin, which is supporting the move will give room to those who store their PRL on KuCoin wallet the advantage to receive SHL at 1:1 without moving their funds out of the wallet.
Oyster Protocol is built on the Ethereum and IOTA Tangle blockchain. The website is a monetization and distributed storage solution. Its tokens, SHL, are what users employ in paying for connectivity and Dapp operation across the Oyster meshnet. They are at the same time used to gain access to the web by bypassing ISPs.
A statement by Taylor French, Design and Communications Director at Oyster, on Medium, a socio-blogging platform, reflects that PRL holders will get Shell tokens through the announced Airdrop, and it is not offered in a token sale. KuCoin will be the only exchange where you can keep PRL and still receive the SHL Airdrop, the statement has reflected.
“KuCoin has confirmed that they will be participating in the SHL Airdrop. Since the agreement between KuCoin and Oyster for the SHL airdrop was not finalized until this past Friday and given KuCoin’s busy schedule and limited available development resources, April 6th was not going to be a feasible date to have proper preparations made for the SHL airdrop on the KuCoin platform.”
The statement enjoined PRL holders who are not using KuCoin wallet to use personal wallet like MyEtherWallet. It added that websites who install Oyster code for monetization earn PRL and SHL in return.
In its White Paper, the team behind Oyster Protocol says it is designed to solve revenue generation, anonymous and accessible storage, and decentralized application development and deployment. The protocol unlocks the dormant revenue potential of millions of websites, the storage dilemmas of individuals and corporations, and the mesh-net platform that developers need.
The protocol is invented due to the fact that the internet is constantly threatened by governing bodies worldwide concerning censorship, regulation, and spying. It is intended to addresses these problems with a new comprehensive platform.
Less than 24 hours ago, Overstock.com – the online retailing giant – showcased a prototype of a trading platform their development team has been working on called tZERO. The project has a private offering for the tZERO Security token (TZRO) that is currently in progress. It was extended till May 14th this year from an earlier deadline of March 1st.
According to the tZERO website, they will enter into Simple Agreements For Equity (SAFEs) only with accredited investors pursuant to the terms and conditions set forth in the Offering Memorandum, dated March 1, 2018, for the Token Sale.
Also according to the website, tZERO’s Security Token front end is designed to trade security tokens in an easy, compliant, and user-friendly manner. This system is integrated with tZERO’s existing 15c3-5 risk management software, order management system, matching engine, and a plethora of proprietary technology to support the eventual trading of security tokens.
The demonstration of the prototype of the platform is meant to reach out to the cryptocurency and regular securities trading community for input, questions, comments and ideas for improvement – ahead of the final launch in May. They too are operating on a regulation grey area as they await SEC guidelines on the whole industry of cryptocurrencies and security tokens.
So far, Overstock has raised $250 Million from its private offering and this amount is expected to grow with a month till it ends.
The tZERO token (TZRO) is an ERC20 token that will be offered as a security to qualified investors in accordance with US and other laws. The token will pay 10% adjusted gross revenue to token holders on a quarterly basis. TZRO joins other dividend based tokens that were used to fund exchanges such as Bankera (BNK) and KuCoin Shares (KCS).
Bankera pays its dividends to investors on a weekly basis whereas KuCoin does its payment on a daily basis. All this is possible through the ever amazing smart contracts available in the cyrpto-verse.
To note is the constant enthusiasm by regular companies dealing in traditional business, venturing into the world of cryptocurrencies and blockchain. Overstock also joins the Rockefeller arm of investing, Venrock that recently partnered with Coinfund, in this trend of doing so.
Perhaps Bill Baryhdt was right when he said, All Hell Will Break Loose in crypto this year.
[Photo source, tzero.com]
Every day more people are paying attention to the idea of being a part of the crypto area, apprehending the benefits it’s bringing to the society. Some enjoy being a member on this sphere for the technology part, while some on the other hand, like to be a part of the cryptoland because great money are involved and expected to be earned.
In every sphere of life when you get involved on something new, you must always remember that you are considered as a beginner even though you expect faster results on a respective field. As you make a fresh start, with the reliable sources, school education, or most importantly self-education, you – as a new individual on a specific area – will succeed.
Along with these lines, Ethereumworldnews.com wants to give you the first hand, also is and wants be your one-stop solution for all crypto-related misunderstandings if you are just at the first steps of entering the dynamic journey in the cryptosphere and likewise guidance you to become a professional at cryptocurrency industry.
Ethereumworldnews.com has been here for over a year and we acquired to reach more than 3 million people like you – the ones that desire to be experts on the crypto area. Consequently, I am here again today to help you obtain extended knowledge, and tell you some of the best crypto trading website/exchanges for beginners.
Even though I was a complete novice when I started, it was pretty clear to me what I wanted before choosing which cryptocurrency trading website/exchange I have to use. Some of them were:
- Ease of usage and UI
- Security of funds
- Past performance
- Development team
- Geographical Operations Map
Currently, the ones mentioned above still seem to be applicable on the same way.
Considering this guideline, I will show you some of the best websites to buy and trade your cryptocurrencies.
5 Best Crypto-Trading Websites for Beginners:
One of the trading-websites that has been ruling the crypto industry for many months now, is Binance.
This exchange fits well with the new members entering the journey of crypto market. The company has reached to gain a lot of popularity due to its low trading fees. They have an inbuilt option in their UI to switch between the two modes, a feature that makes their UI very easily approachable.
Furthermore, you will never have problems with situations of market fluidity while using Binance because it persistently ranks in top 5 exchanges on CMC by volume.
Additionally, if you choose to use their native BNB tokens while trading, you will be offered with a discount up to 50% in your trading fees, which is considered as a big amount if you are aiming to be a regular crypto trader. If you start as early as possible via BNB, the more benefits of saving you will receive. (Buy BNB Tokens Here)
- If you choose to trade on Binance:
- Fees: 0.1% (claim up to 50% discount)
- Accessible Globally
Second best place on crypto-trading website takes KuCoin. For the last 6 months it has been receiving a lot of transactions and traders seem to be very satisfied with its method. They are serving the industry with the superior customer service and a good enough UI/UX.
It ranks in top 25 exchanges on CMC and one of its main benefit for costumers KuCoin Shares is good to HODL because it uses and exchange that follows a profit-sharing system and distributes 50% of their daily overall trading fee revenue to users holding their exchange-based token, KuCoin Shares (KCS).
KuCoin is one of the rare exchanges that pays you NeoGAS for holding NEO on it.
- Start Trading on Kucoin
- Fees: 0.1%
- Accessible Globally
Without mistrust, Changelly is considered as one of the easiest to use cryptocurrency exchanges in the market. The procedure is very simple, you can easily send one currency and substitute it of another supported currency.
Changelly requires you to sign-in with your email ID, but delightedly it does not require you to go through the monotonous KYC process.
Via Changelly it’s easy to use exchanges if you are interested on buying cryptocurrencies through debit/credit cards. Currently, it supports more than 35 cryptocurrencies along with fiat pairs such as USD/EUR.
To conclude with, Changelly charges a commission fee of 0.5% on each trade, which is minimal in exchange for the volatility and risk that they bear on behalf of their users.
Another well-known Bitcoin and cryptocurrency exchange is Coinbase, that is mostly used for buying/selling cryptos like Bitcoin, Bitcoin Cash, Ethereum, and Litecoin.
You can deposit your fiat currency (USD, EUR, GBP etc) into Coinbase and easily gather your cryptocurrencies that you can later withdraw in a Ledger Nano S or Trezor-like device.
A bonus that Coinbase offers you is that it allows you to buy cryptocurrencies via credit/debit cards. I will reveal you some simple steps on how you can buy cryptocurrencies on Coinbase:
- Register at Coinbase.
- Complete photo ID verification.
- Go to the payment methods page
- Click on +Add Payment Method on the right-hand side.
- Choose Card and add the credit/debit card.
- Accept and allow Coinbase to make two small transactions.
- Coinbase will make two very small test transactions between 1.01 and 1.99 in your local currency. Log in to your card statement account and note the amount of those transactions.
- Enter the amounts transacted in the Coinbase app.
Another easy reachable website for buying/selling cryptocurrencies is CEX.io, mainly because their UI is effortless and uncomplicated and also their past track record is brilliant.
CEX (linkun) is a Uk based exchange and it has been on serve for 5 years now.
Just as Coinbase you can deposit fiat currencies like EUR, GBP, USD, RUB etc on CEX to buy/sell cryptocurrencies like Bitcoin, Bitcoin Cash, Ethereum, Stellar, and Ripple.
Also it should be mentioned and remembered that their main traffic is from fiat currencies (They are in top 35 cryptocurrency exchange as per CMC), so when speaking in terms of liquidity, they don’t seem to have any problems).
Their beneficial element of letting traders buy cryptocurrencies via debit/credit card also makes it easily approachable for beginners.
You can buy cryptocurrencies by following these simple steps (taken an example of Ethereum):
- Register at CEX.
- Go to Cards.
- Configure your credit/debit card.
- Verify your credit/debit card.
- Select the amount of Ethereum to buy/sell.
- Exchange your currency for Ethereum.
The card verification takes 24-48 hours, but post that, you can buy ETH instantly. Consequently we always notify users to keep your card configured in CEX even if your plans don’t consist of buying ETH immediately.
Here is a video guide to help you on how to link a credit/debit card on CEX.IO:
Now it’s your turn to tell us: Which one of these exchanges do you like the best? Let me hear your thoughts in the comments below!
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