DigiFinex Exchange Posing Competition for Binance

Exchanges | Reviews

Digital Asset Financial Exchange is a Chinese cryptocurrency exchange with its headquarters in Singapore. The exchange is owned by the company DigiFinex Ltd which is incorporated in Seychelles and exclusively caters to the Asian market. The exchange has risen to the radar of the online cryptocurrency community due to its heavy trading volumes that exceed $400 million daily, coming into stiff competition with Binance, which has dominated the exchange market for a while now.

This is no mean feat considering that there are over 500 active crypto exchanges worldwide with a user base of more than 34 million crypto wallet holders. DigiFinex was incorporated in 2017 and have astonishingly managed to establish themselves as a trusted digital exchange. Apart from trading their own coin, DigiFinex coin, DFT, the exchange provides trading services for many blockchain based assets, including recently launched Gemini dollar.

The DFT token is an ERC-20 token based on Ethereum smart contract system, with a liquidity value of $2.1 billion according to CoinMarketCap.  One of the reasons why the volume on this platform is so high is that the company’s client base is strictly in Asia, which contributes to the bulk of daily cryptocurrency and digital asset trading more than anywhere else in the world. DigiFinex has a special quality in that its customer protection is its paramount selling point.

Annual audits are conducted by investors, in addition to the fact that the exchange company is one of the few that are SOA audit certified. So far, the company is yet to be subjected to a single security breach event. DigiFinex founder Ned Kee also stated that the company does not delve its resources into marketing but instead the bulk of their budget is spent on security and performing identity verification according to KYC requirements.

This is not only towards their clients but also their listing policy is very strict for interested parties that intend to list their projects on DigiFinex. The potential projects undergo a vigorous verification process which is then submitted for voting and cooperating. In a nutshell, the voting process is based on the volumes of the proposed token to be listed. As such, the token is run for a five day trial and if the trading volume drops below 200,000 CNY per day, it is promptly delisted. This policy is also applied to assets that have lost 90% of their initial valuation.

Another feature of the exchange platform is its real time accounting and transaction processing service. This is the case for single wallet users or multi-layer wallet holders, which is enviable considering the collective different signature addresses. It is probably for this reason that their trading costs are a little friendlier than most crypto exchanges. It charges a standard fee of 0.20% competing with the 0.25% industry average. On Binance, there is a 25% on all fees paid in the DFT token.

DigiFinex also provides a reward system for trading with their native DFT token. Rewards can be obtained when a user locks the tokens and completes specific trading amounts. It also supports 149 trading pairs like BTC/USDT, BCH/USDT, LTC/USDT, ETH/USDT and many more. The trading model is very similar to that displayed on Binance, including the rewards system which depends on the volume of trading accumulated between makers and takers over a 30 day period.

In 2018, the company launched a limited period DFT mining exercise that lasted from April to August 21st. the mining exercise practically catapulted the company from 50th position to 11th in a few months. The reason they halted mining was so as to prevent an overflow of DFT which would lead to a decrease in value, which was a smart move in my opinion.

However, the exchange is not all rosy as there are a few limitations that I need to point out:

  1. The application is only available on iOS based devices meaning a lot of potential clientele is losing a great opportunity to trade on the platform.
  2. The application is not very advisable for seasoned traders due to the fact that their trading features are very limited, such as the fact that there is no stop order or margin trading.
  3. Since the exchange services are geographically limited, there is absolutely no way to open an account from say like the US, which again limits participation and in a way sort of makes Binance a preferred choice, due to global expansion.

What are your thoughts?

 

 

 

 

 

Remember the news that beguiled cryptocurrency exchange company, QuadrigaCX CEO Gerald Cotten died, and took the whereabouts of more than $135 million with him to his supposed grave leaving thousands of its account holders without a way to recover their coins? The story made headlines of ridiculous proportions and raised too many questions regarding regulation and trust issues as far as cryptocurrency exchanges are operated, one of them being how one individual could be the sole custodian of important access logins and passwords.

When his wife swore an affidavit, she claimed that her deceased husband had all the logins and passwords to thousands of accounts encoded into his computer that could access millions of dollars in a curious case of being overly cautious about security issues after major attacks were launched against cryptocurrencies last year. It became very frustrating when even forensic experts were faced with limited access when they tried to decrypt the computer which severely compromised the company’s access to currency.

Needless to say that the news did not sit well with its thousands of its wallet holders who decried the exchange as a scam due to the unbelievable circumstances. Most crypto community members even questioned if the CEO was dead and called for class action lawsuits against the exchange, prompting the directors to issue a statement on January 31st. The statement alluded that the company was looking to the Nova Scotia court for creditor protection as they try to address the liquidity challenge and serve their customers. As at time of post, these efforts are still unsuccessful.

In the wake of the above events, Gemini founders, the Winklevoss twins have embarked on a campaign to call for regulation and review of the trust issues surrounding cryptocurrencies to avoid a situation such as that suffered by QuadrigaCX. They warned that in such a quickly evolving technology, users will keep losing vast amounts of investment due to lax and slow progress towards regulation.

At the same time, the advocated for their own crypto exchange company saying that the company is more user friendly and offers multi-level security account protection services, especially one major characteristic of blockchain technology is eliminating the third party trustees. Their case is not unfounded as the company is fully registered, compliant and as at the time of launch five years ago, they had the highest levels of reserves, which was a complete opposite from all other exchanges that followed the Bitcoin blueprint.  

Here is why the Winklevoss twins are confident that their crypto exchange is a better fit:

  • It allows for international bank transfers which is not provided by most cryptocurrency exchanges due to the risks involved.
  • Their customer support system is the best so far as they provide even minute details that customers may come up with and it is done in detail. They also allow customers and prospective customers submit their questions via email.
  • The exchange platform offers a two factor authentication 2FA that pushes ups the security of a users’ account.
  • Gemini holds vast amounts of Bitcoin and Ethereum in offline wallets and very little amounts online which largely reduces the ever present risk of an attack like that suffered by Coinbase and Quadriga. Also, it allows them to maintain high liquidity.
  • The exchange does not offer a minimum investments but encourages account holders to invest whatever amount they are comfortable with at their own discretion and increase the amount over time.
  • It has an auctions feature, very much like the stock exchange auction, where large amounts of crypto-assets are traded in the short time. For the exchange to have this feature that is inherently very risky practice, can be banked on their confidence in their liquidity in the event of a crisis. So far they have been very successful.
  • The cryptocurrency exchange company functions in over 45 states in the US, with offices in Singapore, UK, Hong Kong, Canada and South Korea. And in its history since inception, the company has managed to grow this much without a single hacking incident which is pretty impressive.

The Winklevoss brothers in a statement yesterday said that regulation and security procedures will also allow the price of cryptocurrencies like Bitcoin and Ethereum, the top coins by market cap to increase. Kindly note that this article is not conclusive but due diligence is recommended for our subscribers before they can invest their money with Gemini.

 

Fidelity Digital Launches Digital Assets Trading

Fidelity Investments has been making plans to roll out a crypto asset platform to include trading for the top cryptocurrencies. In October, the company had said that it would be launching a separate company called Fidelity Digital Asset Services. Head of Fidelity Digital Assets, Tom Jessop had earlier stated that the company was taking a customer driven approach since the larger component of their client base were interested in Bitcoin and Ethereum trading as the two cryptocurrencies currently dominate market cap.

The platform was to be rolled out in March of 2019 but as the time of post we still do not have concrete news. Updates will be put up as soon as the platform is launched. The company already had a digital assets LLC and the question was only if the company would include cryptocurrency trading onto their business, and they wanted to provide a trusted service platform for their clients.

Morgan Creek Institutional Funding

Last month Morgan Creek announced that it had gotten funding for $40 million for a venture capital that they intend to invest in blockchain start-ups. What caught the attention of the crypto community was the big names of the investors that came up with the figure. They turned out to be Virginia State Police and public employee retirement funds. The other investors include a university, insurance company, a hospital system and a foundation.

The investors actually control assets in the figures of billions of dollars and $40 million may not seem much but it is astride in the right direction if institutions are willing to bet on blockchain and cryptocurrency trading. One of the partners at Morgan Creek, Anthony Pompliano addressed the issue and stated that the company may not be able to hold large amounts of cryptocurrency, but will look into taking early equity positions in blockchain start-ups.

Venture capital investment is very risky as most of these start-ups generally fail but his argument is that blockchain technology is evolving and being talked about everywhere in the financial sector. He argues that even if it could take years, the investment will definitely pay off. Having institutional money invested into crypto is a huge win even though it may not play a role in affecting the prices of cryptocurrency, it healthy for the crypto economy.

Facebook

Social media company, Facebook will not be left behind in the mad rush for digital tokens between the internet’s messaging applications. As of December, the news was out that Facebook would first take its focus into the Indian market. The transfer of funds will be done through Whatsapp which Facebook acquired in 2014. The reason the focus is pegged on India is because the country has the highest remittance market as well as a very large number of Whatsapp users of over 200 million.

Facebook had set up its blockchain team last year after publicly advertising positions they intended to hire in software engineering, marketing and data science to further their agenda. In early January, Facebook acquired the team from London’s Chainspace and proceeded to approach different crypto exchanges regarding listing their own coin.

There are however questions raised as to Facebook’s privacy issues and they have a heavy task of convincing users to get on board with the blockchain project they intend to launch on Whatsapp. In my opinion, Facebook is counting on its phenomenal user scale compared to Telegram which is also rolling out its cryptocurrency agenda and has raised around $850 million so far to back the project, but can they trust Facebook with their money?

So far, Facebook is not entirely forthcoming with the complete process but they are obviously throwing resources towards this project if their recent crypto history is anything to go by. It will be quite interesting to watch how the whole thing unfolds and if it will work or gain traction among users and provide competitive ground.

 

Three weeks ago on Valentine’s Day, JP Morgan Chase launched their very own crypto coin, ‘JPM Coin’ the first of its kind to be backed by a major US bank. The banking giant has an impressive daily trading capacity of $6 trillion. The bank hopes to use the cryptocurrency to settle payments between their clients. Following the launch of the coin, JP Morgan Digital Services Head Umar Farooq, stated that the bank fully supports cryptocurrency and blockchain technology as long as they are properly regulated.

How will it Work?

JPM Coin is exclusively for internal use and will be used to facilitate transfer of payment between institutional accounts and is not for retail customers. To be clear, the coin is not a cryptocurrency but a stable coin specifically for the in-house use of the bank. The coin will run on the bank’s blockchain platform, Quorum, which is a private and permission platform meaning that the users will have to get the permission from the bank itself.

One interesting fact about this coin is that it is in direct competition with Ripple, which currently holds the third highest market cap. Ripple has also been providing similar services of global funds transfers and payments, made using their own stable coin XRP. For the moment, the coin is strictly for payments and fund transfer between businesses that have accounts with the bank.

Advantages of JPM Coin

By JP Morgan taking the step toward adoption of blockchain technology, some financial and tech experts say that the move instills confidence in its clients. According to fintech industry group head at the law firm of Duane Morris Ms. Cindy Yang, having a system that is solely controlled by the bank itself eliminates the question of security and regulation. The move by the bank will push other financial institutions to do the same and create a healthy competition zone.

Also, having a centralized system limits the level of exposure, as there is security for its brand as a bank and the same on the balance sheet. In retrospect, there is no harm in having a centralized system since financial records of this nature are up to the discretion of the user and the bank as the trustee.

The move by the bank to launch a coin for its customers to make payments across the world and quickly is seen as a positive break towards further adoption. A case could be made that if more banks can do the same, it would open opportunities to make the technology used by these banks more accessible in future. It could even create retail opportunities if the banks extend the blockchain technology.

Exceptions

Blockchain technology is decentralized in nature but this is not the case with the coin JPM. Experts are concerned that the bank may not have needed the coin at all as even the blockchain platform they are using is controlled by the bank. They even disqualified it as a cryptocurrency altogether, according to one forward tweet by crypto pioneer Nick Szabo (@NickSzabo) where he stated that the coin was not decentralized, not borderless, not open and therefore did not meet the threshold of cryptocurrency qualifications.

Nouriel Roubini (@Nouriel) backed the same and tweeted that JPM is a joke to say the least, as everything about it goes against the basic principles of cryptocurrency and blockchain. From the permissions, to the private controlled blockchain, the nose of JP Morgan in the transactions and the fact that the whole thing is privatized and its not accessible to the public.

Ripple CEO Brad Garlinghouse (@bgarlinghouse) tweeted his disappointment at JP Morgan missing the point and still trying to control the way cryptocurrencies work but from a misguided point of view. He tweeted that banks may be changing their attitude towards cryptocurrencies but JPM Coin is moving in a completely opposite direction and skewing the meaning of cryptocurrency and causing confusion.

David Gerard, author of the ‘Attack of The Fifty Foot Blockchain’ is of the opinion that the bank did not even need a blockchain platform at all. According to him, the bank could do exactly the same thing on their very own data base and they are just using the excuse of faster transactions to delve into blockchain and cryptocurrency.

 

DRIFE, a solution to centralized ride-hailing

Drife.one introduces the DRIFE platform, a decentralized transport ecosystem powered by the blockchain. DRIFE’s objective is to disrupt the existing ride-hailing business model and eliminate the corporate intermediaries involved in the transactions. It’s also a system designed to empower the value creators of the ride-hailing ecosystem. In the emerging market of private transport services, these value creators include drivers and community developers.

Private transportation platforms have created a new paradigm for the industry. Unlike the taxi industry, the type of customers has changed. The current obsolete taxi model has been a hot topic in Spain (still an unresolved conflict) and also in many other areas. The basic needs may not have changed, however, our specific needs do.

Technology has created new emerging markets, new needs and therefore new niches. However, in this comparative framework, traditional taxi systems have hardly changed their way of operating. At the same time, viable alternatives have varied the model in a scarce, insufficient way.

 

Advantages of the DRIFE platform over the current model

Taxi companies regulated by states or transport authorities have evolved very little. This has made things difficult, the scant adaptation of the business model for all parties is clear. This leads to various problems, income gains minimized under pressure, drivers suffering from strict labor policies, and to top it all, this added to slow and expensive bureaucracy. Thus we find several points to review.

Generally, the major value creators in the transport service chain are oftentimes taken for granted which makes the problem linger and complex even more.

DRIFE is focusing its efforts on changing the trend by creating a global standard service capable of restructuring the ride-hailing ecosystem within the transport sector. This is where the advantage of blockchain technology comes in. Once introduced, it is capable of disrupting systems and restoring balance to the economic system.

Competition within the ecosystem may already be fierce as leading industry giants like Uber have far reaching market influence. However, the advantage DRIFE holds lies heavily on its decentralized

methodology and governance structure based on the blockchain technology, which is expected to accelerate DRIFE’s objectives once it enters the market.

 

 

The model proposed by the DRIFE platform

In the initial stage, one of the incentives introduced will play an important role. Nowadays, in many real scenarios, drivers see their own colleagues as direct competition. This breaks collaborative community relations, disempowering its members as a final result. Drivers in DRIFE’s ecosystem receive incentives for introducing other drivers to the platform, thereby fostering the growth of the service.

At the same time, it creates synergies for community building among drivers, an essential part for the creation of value and consensus. Since payments for service on the platform is conducted via peer-to-peer (P2P), intermediaries are eliminated alongside their unreasonable commissions.

This is by nature an improvement of the service, including social benefits. Better insurance associated with vehicles is a case of social benefit (for all parties), and is only possible in a scenario in which the driver can afford to pay. Empowering the driver, again, results in better service and better legal coverage for the parties.

As it is well stated in the Drife.one whitepaper, ride-hailing is essentially a cloud-based business. Unlike the traditional taxi industry, the successes of these platforms depend to a large extent on user experiences (UX) and the design of the user interface (UI). Two very complementary elements that play important roles in any ride-hailing platform.

Drivers and passengers are two essential parts without which the business model would not make sense. However, everything works well thanks to the diligent efforts of the developers. This completes the circle. In a consolidated digital revolution, developers are vital for everything that happens “behind the scenes” materialized without influencing the final experience consciously for the user. Everything on the platform should always work seamless as far as the end users are concerned.

 

The importance of developers in the new digital era

The developers, on the DRIFE platform, have the potential to create useful facilities within the application. This tends to improve the riding experiences, and therefore, optimize the ecosystem. Developers can also detect and correct mistakes, unfortunately, on the developer’s side, this is often overlooked.

In a case where the development of displacement / transport applications is outsourced, it is easy for developers to decide not to intrude. Sometimes, once the deadlines are met and the product is delivered, the relationship is cut off imminently. Generally, the fact is simply due to a lack of motivation.

The DRIFE Platform Aims to Disrupt the Transport Sector

 

DRIFE, a solution to centralized ride-hailing

Drife.one introduces the DRIFE platform, a decentralized transport ecosystem powered by the blockchain. DRIFE’s objective is to disrupt the existing ride-hailing business model and eliminate the corporate intermediaries involved in the transactions. It’s also a system designed to empower the value creators of the ride-hailing ecosystem. In the emerging market of private transport services, these value creators include drivers and community developers.

Private transportation platforms have created a new paradigm for the industry. Unlike the taxi industry, the type of customers has changed. The current obsolete taxi model has been a hot topic in Spain (still an unresolved conflict) and also in many other areas. The basic needs may not have changed, however, our specific needs do.

Technology has created new emerging markets, new needs and therefore new niches. However, in this comparative framework, traditional taxi systems have hardly changed their way of operating. At the same time, viable alternatives have varied the model in a scarce, insufficient way.

 

Advantages of the DRIFE platform over the current model

Taxi companies regulated by states or transport authorities have evolved very little. This has made things difficult, the scant adaptation of the business model for all parties is clear. This leads to various problems, income gains minimized under pressure, drivers suffering from strict labor policies, and to top it all, this added to slow and expensive bureaucracy. Thus we find several points to review.

Generally, the major value creators in the transport service chain are oftentimes taken for granted which makes the problem linger and complex even more.

DRIFE is focusing its efforts on changing the trend by creating a global standard service capable of restructuring the ride-hailing ecosystem within the transport sector. This is where the advantage of blockchain technology comes in. Once introduced, it is capable of disrupting systems and restoring balance to the economic system.

Competition within the ecosystem may already be fierce as leading industry giants like Uber have far reaching market influence. However, the advantage DRIFE holds lies heavily on its decentralized methodology and governance structure based on the blockchain technology, which is expected to accelerate DRIFE’s objectives once it enters the market.

 

 

The model proposed by the DRIFE platform

In the initial stage, one of the incentives introduced will play an important role. Nowadays, in many real scenarios, drivers see their own colleagues as direct competition. This breaks collaborative community relations, disempowering its members as a final result. Drivers in DRIFE’s ecosystem receive incentives for introducing other drivers to the platform, thereby fostering the growth of the service.

At the same time, it creates synergies for community building among drivers, an essential part for the creation of value and consensus. Since payments for service on the platform is conducted via peer-to-peer (P2P), intermediaries are eliminated alongside their unreasonable commissions.

This is by nature an improvement of the service, including social benefits. Better insurance associated with vehicles is a case of social benefit (for all parties), and is only possible in a scenario in which the driver can afford to pay. Empowering the driver, again, results in better service and better legal coverage for the parties.

As it is well stated in the Drife.one whitepaper, ride-hailing is essentially a cloud-based business. Unlike the traditional taxi industry, the successes of these platforms depend to a large extent on user experiences (UX) and the design of the user interface (UI). Two very complementary elements that play important roles in any ride-hailing platform.

Drivers and passengers are two essential parts without which the business model would not make sense. However, everything works well thanks to the diligent efforts of the developers. This completes the circle. In a consolidated digital revolution, developers are vital for everything that happens “behind the scenes” materialized without influencing the final experience consciously for the user. Everything on the platform should always work seamless as far as the end users are concerned.

 

The importance of developers in the new digital era

The developers, on the DRIFE platform, have the potential to create useful facilities within the application. This tends to improve the riding experiences, and therefore, optimize the ecosystem. Developers can also detect and correct mistakes, unfortunately, on the developer’s side, this is often overlooked.

In a case where the development of displacement / transport applications is outsourced, it is easy for developers to decide not to intrude. Sometimes, once the deadlines are met and the product is delivered, the relationship is cut off imminently. Generally, the fact is simply due to a lack of motivation.

The model of this project offers an incentive model for developers, which in turn amplifies their worth within the value chain. This is one of the core advantages of the DRIFE platform – an inclusive model for all parties based on the long-term vision.

 

The IEO token is now available with four bonus stages

In the case of the IEO token, the acquisition stages for early investors are four. After completing the first phase of the four stipulated (the private sale), the IEO token can be purchased now. Currently it is in its second stage (presale).

 

The base value set without bonuses is $ 0.25. Those interested in participating get a bonus of 20% (price of the IEO token during said bonus, $ 0.20 / token) during the remaining period of phase 2; which ends at the beginning of March, giving way to the next phase (Sale 1) on March 10. During sale 1 (third phase) the bonus period will be reduced by 5%. In this way, sale 1 is subject to a + 15% bonus on the fixed base price. Finally, the last bonus period begins on April 10; during the last period (sale 2) the acquisition of tokens will be rewarded with an extra 10%.

 

If you want to know the aspects of the project in much more detail, we invite you to review the public documents about the DRIFE project. You can find much more extensive information, such as the distribution of the funds collected in the whitepaper. Related market studies and all kinds of details are also available on their website.

 

 

Website & Official links – DRIFE (IEO)

 

Official website – https://www.drife.one/
Connect with DRIFE – https://t.me/Drife_officialchat
Follow DRIFE in Twitter – https://twitter.com/Drife_official
DRIFE official Facebook – https://www.facebook.com/drife.official/
Profile & posts inside – https://medium.com/@drife_official
Whitepaper – https://www.drife.one/wp-content/uploads/2019/02/Drife-Whitepaper-v1.2.pdf

 

Due to the increasing popularity of decentralized exchanges, many exchanges like EtherMium aim to offer more features than your standard DEX. With so many “non-feature rich” decentralized exchanges like EtherDelta and IDEX, which provide a very limited amount of features, EtherMium’s primary goal is to allow the same features found on a centralized exchanges within a decentralized platform, thus creating the best possible decentralized exchange available.

Like most other decentralized exchanges, they don’t require KYC from their users. You’ll also be allowed to trade within seconds of registering. The company is getting ready to launch their options trading solution as well as allowing the opportunity to invest in ICOs within their decentralized platform.

Regarding safety, Ethermium never holds any of their customer’s funds. These funds stay within their corresponding smart contracts, which if you’re not familiar with, act as independent programmable bank accounts. Due to this technology, customers are able to manage their funds independently without exchange owner intervention.

Regarding cryptocurrency selection, EtherMium offers a wide range of Ethereum ERC20 tokens that can be traded at any given moment. In the near future, the company plans on launching a derivative trading solution which makes it possible to trade non-Ethereum cryptocurrencies (Bitcoin, Ripple, Litecoin, etc) with up to 10X leverage.

EtherMium will also allow the trading of real world assets like commodities, company stocks, and indices. The company believes that a decentralized futures trading platform with the ability to leverage trades, will revolutionize the DEX trading world forever.

Last but not least, EtherMium plans to offer the ability to invest in ICOs while taking advantage of their security, anonymity, and decentralization.

EtherMium Features

First of all, the company makes it very quick and simple to start trading due to its decentralized nature. No longer do you need to register or complete KYC requirements. Simply create a new Ethereum based wallet, deposit your Ethereum into it, and start trading in minutes.

As you can see from the screenshot below, the EtherMium trading screen is very well-designed. It offers more trading options than any other current decentralized trading platform like stop limits and market orders.

The platform also offers extremely competitive trading fees along with no withdrawal or deposit fees. Their  current trading fee model allows market makers to trade with 0% fees while takers only pay 0.2%.

Future Features

The most revolutionary feature EtherMium plans to release is the ability to trade leveraged futures on a decentralized platform. This is currently unheard of!  This will allow investors to bet on the prices of certain assets including cryptocurrency, stocks, and other commodities.

The company currently plans on offering leverage up to 10X for starters, however this will most likely increase as the platform expands and gains more popularity. Their goal is to start leverage trading with available assets such as Bitcoin, Dash, Litecoin, and Monero. After such, they will deploy other trading channels with a focus on company stocks. After that, commodities will be added such as oil, gold, and other tradable assets.

Another noteworthy feature of EtherMium will be the ability to short an ICO. This is a feature that no other exchange can currently provide. This is yet another feature that will “game changing”, not only with decentralized exchanges, but within the crypto trading community.

EtherMium will soon release a mobile application which allows users to trade on any mobile application like Android and iOS devices.

Conclusion

EtherMium will most certainly change the way decentralized exchanges are perceived. Users will be able to secure their funds on smart contracts as well as the ability to trade other “non-cryptocurrency assets” you can’t currently find on other exchanges. With game changing features like DEX futures leverage trading and the ability to both invest in ICOs as well as short them, will undoubtedly create a frenzy of new users to their platform.

At the moment, the exchange currently has one of the most intuitively designed and easy to use decentralized trading platforms available today. With their soon to be released mobile app looking equally as appealing, I’m quite sure that the company will experience a flood of new traders that will look forward to trading on a decentralized exchange like they’ve never experienced before.

Terrexa is a new face on the scene, only operating since the first half of 2018, but it’s starting to create some interest. Based in Cyprus and backed by Prime Marshall CY, the exchange platform tech is powered by Leverate, a fintech software company. The new service isn’t well-known at all, but that may be about to change as the platform matures.

What’s Terrexa all about?

Unlike most of the large-scale exchanges out there, Terrexa doesn’t operate like a traditional exchange platform. You don’t transfer your funds, onto the platform, whether they are fiat or cryptocurrency,  so Terrexa never really has your money. The exchange of funds happens “on the spot”. There is no trading of currencies; it is a straight exchange with funds going directly from bank to a wallet or from a wallet to a bank.

Terrexa has also released a Bitcoin wallet app that’s available for iOS and Android. As far as wallets go, it’s a pretty good hot wallet.  If you’re using the Terrexa platform to purchase Bitcoin, there’s an integrated feature that connects you straight from your mobile wallet app to the platform. It’s not an essential tool; you can use whichever wallet suits you. However, you don’t have to use the Terrexa exchange to use the wallet.

At present, there are only two cryptocurrency coins to trade with using EUR or USD, which are Bitcoin and Ethereum.

There are fees on this exchange, much like any other. When you see the price to buy, it is not the market price at that time there is a 5-6% markup*. The fees marked by the payment options for credit card and bank transfer are 4% and 2% respectively and are subject to banks and card provider’s fees.

When selling Bitcoin, the same fees apply. You can’t have the fiat transfer sent directly to a credit card, so a bank transfer is the only option available and the 3% transfer fee applies. There is also the 5-6% markup on the selling price.

This markup is the same as charges at foreign exchange desks in Forex trading. Those places aren’t there for charity; they need to generate profits, so they can do this by charging  a commission or covering a spread between the buy and sell price.

It’s best to purchase BTC or ETH with local currency (EUR or USD) as a starting point for new traders . They also get the opportunity to sell it back.

Terrexa is not available for customers in the US. However, it is open to users in most of the rest of the world, excluding risky countries such as North Korea, Syria, Cuba, Iran, and any other country that’s designated as an increased risk by International law. 

The truth is that anything connected to the internet can be hacked. However, hacking wasn’t always a problem.

The History of Air Gap Technology

Data used to be held offline, in what’s now known as cold storage. Data on external paper cards, then moved to tape and digital media as technology evolved. The first computers built were by default on cold storage or ‘air gap’ technology.

Even when networks were initially built, much of the data still had to be manually connected to the system by adding in the media to a device. In the early days, sensitive codes and information were kept locked in vaults accessible by an authorized individual or in some cases, by multiple people required to key in simultaneously. This approach was the genesis of multi-signature authorization.

 

Eventually, with the invention of the internet, those computers and that data could be connected to an outside, worldwide network. The concepts upon which the internet was built had some basic principles of security within them, but the exchange of data and the ease of doing so was paramount in the original architecture of the web.

Sensitive institutions were slow to add their most critical data to the internet, and all-important military institutions initially relied on a manual air gap, where a command was sent to a person who would retrieve data devices out of a vault and connect them to a machine for a short period in which they needed to be used.

Some institutions still rely on these methods. The Russian military is famous for its continued reliance on typewriters for some of their most sensitive documents – if it’s never digital, well, it’s certainly a lot harder for your enemies to get their hands on it.

The value of air gap technology is unparalleled in its ability to hide data away from digital thievery; however, inaccessibility has always been its shortcoming. With the institutions using the tech over the course of history, having the physical manpower on hand to mount drives online at a moment’s notice was not an issue, but the corporate application of this technology requires some automation of that process to scale and serve the needs of millions of customers simultaneously.

However, how to bridge that gap without systems being online? The fact is that with a recent invention, human interaction, and the resulting security risk those touch points entail are no longer required to remotely close an air gap.

Application of Air Gap in Crypto Custody

Trezor bitcoin cryptocurrency wallet
Source: Trezor

Individuals have been storing sensitive data on cold storage devices for decades. USB thumb drives are ubiquitous across society these days, and their use for storing cryptocurrency keys began almost as soon as currencies were first invented. Over the years, the complexity of these drives has evolved, and now cold storage wallets like Ledger or Trezor are de rigueur for smaller independent investors.

However, these drives are not a viable solution for larger investors who need instant access to their funds but who do not wish to take the risk of employees carrying around their codes. Additionally, for institutions the gaping holes in the security of these devices, and their applicability to the global needs of their clients renders them useless.

Beginning in 2013, institutional grade custody providers came to market to provide offline storage of digital assets. Amongst the first of these was Xapo, a group focused on serving the needs of long-term holders of cryptocurrency. Xapo built vaults within mountains for the long-term cold storage. Since the founding of this company, many other institutions offering deep cold storage have entered the market.

Most recently, the Winklevoss twins announced a cryptocurrency-based patent in the air gap space, lending even more credibility to the application of the technology. The solutions all rely on a combination of codes on digital or physical (paper or other) media in coordination with some vaulting solution. These options are great if you don’t need to access your keys to make trades; however, trading is a key to doing business.

All of these solutions have the same issue which has vexed institutional investors for years – entirely locking them out of the market in many cases – and that problem is accessibility. The typical solution, like Xapo, requires a 2-day notice to bring your keys online manually for you to make a transaction. This delay means these solutions can’t meet the needs of active investors who need access at a moment’s notice. Additionally, the additional human interaction point represents a significant risk to data.

Remote Automated Air Gap Security (RAAS)

In early 2017, Tony Hasek, one of the founders, of Goldilock was working with a company offering deep cold storage for physical assets – mostly precious metals. He had been trading cryptocurrencies for years and was worried about the constant breaches suffered by even the largest institutions, starting with Mt. Gox back in 2011. Not wanting to carry his codes around, he started thinking about ways to keep them offline using some of the same concepts of cold storage combined with some analog technology he’d worked with back in the 90s.

Combining forces with his co-founder Jarrod Epps, who had also worked with analogue telephony solutions, the two collaborated for several months to build out an architecture which would allow all data to be kept offline in a vaulted, air gap, cold storage state until the exact moment the owner of the data wanted to bring it online (also known as ‘hot’).

By relying on a sophisticated combination of legacy offline technology as a trigger mechanism for remotely-toggling data nodes on/offline, alongside cutting-edge cryptography and biometric gateways, and adding in options for remote multi-sig approvals, the two filed a patent for a unique way to access cold-stored data at a moment’s notice. Also, they built it in a way so simple and secure that anyone with a mobile telephone could use it.

This new RAAS technology (pronounced ‘race’) allows anyone to access their data anytime from anywhere that he or she has a mobile or landline phone.

RAAS into the Future

Remotely accessible air gap technology is truly transformational for the handling of all data across the internet. Institutions such as banks, credit rating agencies, video distribution groups, software developers, healthcare record custodians, crypto funds, crypto custodians, and crypto exchanges have all reached out to get on the waiting list to use this technology.

Outside the cryptocurrency space, being able to bank, manage credit data, health information safely, even personal photos and videos will transform the way consumers interact with the internet, allowing them to do so without fear of hacking, identity theft, or hijacking of their credit.

Coinspectator is a highly respected cryptocurrency news aggregator that is dedicated to showcasing 1000s of cryptocurrency news sources from all over the world.

Located in the center of the site, you’ll see a list of news articles that you can scroll through, which are all dedicated to the cryptocurrency industry. Sources like CCN, Cointelelgraph, Coindesk, and many other reputable news sources (like ours) can be found on their easy to read news panel. They even contain noteworthy Twitter accounts from some of the most profound technical analyst in cryptocurrency today.

You’ll also notice that within each news article headline listed on Coinspectator, you can also rate various sources with a “thumbs up” or “thumbs down”. This will allow you to quickly segment between the popular news and other noteworthy articles from the rest of the “less desirable” news sources.

coinspectator review
click to enlarge

NOTE: They just recently included an ICO tab on the left-hand side of their site under the news link which lists all the upcoming ICO projects along with their corresponding social media outlets, company website, and other pertinent information.

Not only does Coinspectator aggregate news stories but they also maintain their own active blog located at https://blog.coinspectator.com. It’s regularly updated with popular news stories from across the industry ranging from cryptocurrency, tokens, blockchain news, crypto mining news, and so much more.

Excellent Mobile Responsiveness

Coinspectator has also ensured that the site looks amazing on all mobile and tablet devices as we were surprised to see how amazing and well laid out the site appeared on several mobile phones we tested it on. The interface is clean and clear with the navigational interface easy to find and use.

The mobile site experience was just as easy (if not easier) to catch up on the latest in crypto news as compared to my laptop computer which is an added bonus for those that are heavy mobile users.

Other Cool Features

Coinspectator offers a useful feature for users who decide to log into the platform that most casual visitors don’t seem to be aware of. The news aggregator is capable of filtering sentiment across a wide array of new sources. Users are allowed to express their opinions on news articles by voting on the headlines as being, Bullish, Bearish, Shilling, or FUD.

At a quick glimpse, users can now view what other people think on a particular news article which will allow you to derive a more comprehensive sentiment of a particular article or viewpoint.

The Team Behind Coinspectator

The team consists of a group of independent writers. The actual platform is self-funded and has not partnered with any advertising network to date.

Their twitter page lists the company’s location as being in the UK and as you might expect, they include many of their posts from the main Coinspectator news aggregator, including up to the minute updates across the crypto ecosystem. So if you prefer to get your information through twitter, this option would best suit your needs.

Conclusion

Coinspectator, which is a free news aggregation platform, is no doubt one of the most useful and essential tools when it comes to getting caught up on your cryptocurrency related news for the day. No longer will you have to browse through countless new sites in order to find the information that you’re really looking.

The site is ad free and includes an extremely well put together interface which looks both clean and user-friendly on both mobile and tablet devices.

Coinspectator is an incredible news aggregator which the team over here at CCJ uses quite often in order to stay updated on the latest happenings within the ever-changing world of cryptocurrency.

Click here and give it a try today.

With the explosion of cryptocurrency, more online gamblers have demanded that casinos open up their spending options to this new digital asset, which seems to be a “perfect match” for these type of platforms.

FortuneJack is one of those platforms that not only accepts crypto, but gives you rewards for using it (we’ll cover more on that later). This extremely popular online casino  caters “primarily” towards the crypto industry. With a wide selection of games, deposit bonuses, and a loyalty club where you can earn up to 20% cash back, there’s no dispute as to who is the true “king of the crypto casino”.

FortuneJack is also toted as the biggest Bitcoin gambling site on the internet. At the moment, it has a total jackpot of over 202 BTC with nearly 19 million individual bets placed. With almost more benefits than games, the platform’s latest “Booster Pack” promo package, ensures that new users have an incredible opportunity to make a small fortune while simply learning the ropes of the platform.

So let’s start off this review on the right foot and cover a few of the specials that FortuneJack has to offer.

FortuneJack Specials

Welcome Pack Special – the casino offers one of the best free specials for new players we have seen to date. You don’t have to put a deposit down and you’ll get 25 spins just for registering on the site.

Deposit Bonus – If you want to actually make a deposit, FortuneJack is offering a 110% bonus deposit (as long as the deposit doesn’t exceed 1.5 BTC). They’re also offering 250 free spins as a little “icing on the cake”.

Wednesday Low House Edge – This is probably one of the more unique offers out there. On Wednesdays, they have a special day called “Dive Day” where the house edge is only 0.7%.

Cash Back – They offer a 20% monthly cash back for everything you lose on the site, which is unheard of for most gambling sites.

fortunejack specials and promotions welcome back btc

FortuneJack Registrations

One of the many great aspects to FortuneJack is how easy they make the sign-up process. This is an important component I tend to look for when reviewing any gambling site, as most make it more complicated than it should be. The team over at FortuneJack, has made it extremely accommodating for new users as it’s as easy as clicking the “Join Now” button and filling out a small registration form, in order to be up and running almost instantly. With no deposit requirements for new members, you can get started right away with little to no risk.

FortuneJack Promotions

Another area where FortuneJack stands out above the rest of the competition is the fact that they introduce so many really great promotional offers on a weekly basis. The company also does a lot of holiday promotions, even for dates like Black Friday and Christmas. You can view their most recent promotions by clicking here. There are some promos that other sites would never even consider, like giving new users free play credits without a required deposit.

fortunejack promos and specials

FortuneJack Games

FortuneJack has always gone above and beyond your typical online casino when it comes to offering a wide selection of games to choose from (many of them are  live which adds to the excitement of playing).

For example, they have nearly 900 slot games alone with cool graphics and animations like the Greedy Goblins, which is one of the crowd favorites and is only available on FortuneJack. Some of the other games include Tesla, Frozen Diamonds, Super-Fast Hot Hot, Booming Bananas, Lucky Seven, Rock’s Revenge, Billyonaire, Big Panda and a lot more. Those are just some of the most popular slot games on the site.

evoplay games on fortunajack casino bitcoin gambling

If you enjoy games that are a bit more random or luck based, you’ll want to head over to the lottery section and take a look over their vast selection of Keno games. We have to warn you though, Keno is one of the worst games you can play in terms of odds and this isn’t the fault of FortuneJack. The odds are inherently against you, no matter where you play. However, while composing this review, we found that FortuneJack has some pretty decent odds with regard to their bingo games, if you’re looking for a more “Keno style” gaming experience with better odds.

Many users enjoy the live casinos which can be categorized into 3 different categories.

Bet Games TV – these include games like dice, poker, wheel of fortune, lucky 7, lucky 5 and more.

XPro Gaming – you’ll find a lot of popular card games like different variations of poker, Texas Hold’em poker, Baccarat, Blackjack and if you’re tired of card games, head on over to the roulette table.

Evolution Gaming – this section includes many card games such as blackjack, baccarat and a vast array of poker variations.

FortuneJack is Mobile Friendly

mobile online gambling casinoOne of the things I look for when reviewing an online casino is if the site is truly responsive. You’d be surprised at how many online gambling sites are not, or simply don’t fit within your mobile device properly. Every single website out there should be fully responsive. It’s  2018! We live in the mobile age, so for a reputable online gaming site to not be mobile responsive is pretty unprofessional. We’re happy to report that the site works very well on every single mobile device that’s been run through our list (iOS, Android, Opera, etc).

The user interface is very clean and tidy, so you won’t have to worry about annoying pop-up advertisements blocking your view. You won’t have to click off any unneeded elements that some online gambling portals like to include within their navigational interface.

FortuneJack Payout Methods

crypto payout bitcoin gambling siteBeing that FortuneJack is a crypto casino, you won’t have to worry about absurd fees like PayPal or  local bank fees because you can withdrawal directly to your BitGo account, which is something fairly new to FortuneJack. If you withdrawal 1 BTC or lower, then you won’t pay a fee on the withdrawal, but you’ll pay .1% on withdrawals over 1 BTC, which is a pretty low rate when you compare it to other cryptocurrency casinocs.

Some of the payout methods included are:

  • Litecoin
  • Dash
  • Dogecoin
  • Zcash
  • Monero
  • Ethereum

FortuneJack Customer Support

If there’s an area that we can feel confident about giving a 10/10 recommendation for, it’s that FortuneJack has absolutely the best customer service and support around. The casino has 3 main methods of contacting them. You can either:

  • Send an email through their contact form (this is the slowest option)
  • Send an email to their customer service directly (these are usually answered within 24 hours)
  • The quickest option is to contact them through their live chat and you’ll get a response right away most of the time.

They offer 24/7 customer support, so even if you’re playing at 5 AM, someone will be available to help you.

FortuneJack Overview & Ratings

fortunejack remarks rating reviews commentsOne of the best things about FortuneJack is their game selection, support, and incredible gaming odds. You can play nearly 1,500+ different games with a vast selection of live games to choose from. I’d give them a 10 out of 10 for their selection of games to play as well as the payout of those games. I found that they offer a high payout as compared to other online casinos (especially crypto gambling sites).

Their customer support is always available and ready to help at a moment’s notice. The fact that they offer a live chat support is a great benefit to offer their users as resolving issues as soon as they arise can quickly set your mind at ease. They don’t offer a telephone number for more personal support but their live chat is extremely fast, so we’d give them a solid 9/10 in this area, for most online gambling portals don’t tend to offer phone support.

As far as their payout and banking methods go, there are so many different options that no matter what currency you’re looking to cash out in via BitGo, they can accommodate, at least for all the popular ones. Payouts are quick and painless. The withdrawal fees are extremely minimal as we covered above. There substantially smaller than your typical online casino (and lower than most crypto casinos). Again, they get a solid 10/10 in this area.

The navigation and user interface is really clean, even if you’re playing on a mobile device, the entire site is completely responsive. I love everything about the overall design. You can tell that the graphic design and development departments for FortuneJack are top-notch. They get a solid 10/10 here too.

Regarding bonuses, the company offers a huge variety of specials and holiday promos. They also include a lot more bonuses for newcomers than most sites do, so we give them a solid 9 out of 10 with regard to this aspect of the business.

FortuneJack is one of the most acclaimed cryptocurrency casinos in the world and it’s easy to see why. I can recommend them without any hesitation and have never had any major complaints about them.

Detailed Video Review

Pros

  • There are nearly 1,500+ casino games overall.
  • You get a lot of deposit bonuses, they’ll offer some great matches to your deposit and will allow you to try out the casino for free without making an actual deposit.
  • The casino was established in 2014, so you can rest assured that the management and staff are very experienced as the casino is tightly run.
  • FortuneJack has a very large selection of live casino games within their massive pool of 1,500 games.
  • The company offers one of the most intuitive designs within the online gaming industry.
  • Top-tier technical and customer support for everyone, regardless of how much you’re spending.
  • One of the fairest dice games out there with the lowest house edge and great odds on most of their slots and video games.

Cons

  • You’re pretty limited on your free spins you get, so if you get 250 free spins, you have to do 50x wagers, which only lets you do 5 free spins before you need to deposit money.

For a  review on the Top 3 Online Bitcoin Gambling Sites, check out our detailed comparison here

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