Cryptocurrency trading is an activity as old as cryptocurrencies themselves. As such, it has been receiving its fair share of attention for about a decade now. First exchanges emerged a long time ago, and most of them have disappeared in the years that followed. However, the trading itself never stopped, not even after large hacks, price drops, or regulatory crackdowns on digital currencies.
Indeed, many have turned to trade into an art, which is why it can take a while before new traders can figure out how everything works. Even so, it is the exchanges' goal to make trading as simple as possible for new users, as the crypto space's survival and development still depend on attracting additional attention.
Trading today is significantly easier than it was, back in the day, and no technical knowledge is needed in order to do it now. Still, there are many who are interested but also intimidated by the process. This is hardly surprising since it consists of new methods with which the majority of the world's population is simply not familiar. This is why the exchanges continue to work on simplifying it further, and making their services available to as many people around the world as possible. This is exactly what the project called Cointrade aims to achieve, as well.
Cointrade is a project with a goal that is rather simple to understand — it aims to become a global cryptocurrency exchange that would center around satisfying its customers. Its goals include making all interactions and transactions easy, fast, and as safe as possible.
Cointrade wants to see the crypto community, as well as the crypto space itself, grow larger than ever before. This can only be done if more users take up this technology. But, as mentioned before, many still find it overly complicated to use and even understand, not to mention the fact that some do not even have access to it even now.
It is Cointrade's hope that it will be able to fix these issues, and make trading and accessing cryptocurrencies as common, easy, straightforward, and secure as buying things from Amazon. The exchange frowns upon the current state of crypto trading, believing that most exchanges are unsafe, inefficient, and expensive. That is why this project aims to be all that other exchanges are not, by developing a scalable platform for millions of users, which would be able to handle hundreds of thousands of transactions per second.
And, as it is common today among the exchanges, it will also need its native coin, which is why it plans to hold an ICO.
Cointrade did announce its plans to hold an ICO, but it has yet to decide and reveal when the token sale will take place. All that is known now is that the project was registered in Spain. It has no specified restricted areas, and no necessary requirements announced, such as Whitelist or KYC procedures.
We know a bit more about its coin, such as its ticker — CTT. This will be a utility coin, and it was developed on Ethereum's network. It will be obtainable in exchange for ETH coins, and judging by other exchanges, it will likely have specific use cases within Cointrade's ecosystem, similarly to Binance Coin on Binance.
The coin's preICO price was also revealed, and it will be at $0.20 per CTT, while the ICO price will be slightly higher, at $0.24. The project has set up a soft cap of $5 million, and a hard cap of $25 million. Apart from that, no other information is available at this time.
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|Start||August 1, 2019|
|End||September 30, 2019|
Cointrade provides one of the most boastful descriptions of a startup that has no real substance behind it. But what bummed me out the most is the claim to have an "impeccable professional record". All right, so I go to the LinkedIn profiles of their team members, and it turns out that the project founder used to work as an office manager and then founded some backdoor company. Other team members don't even mention Cointrade on their profiles. That's not the blockchain experience that I would expect from an investment-worthy project.
funny_jenny August 26, 2019 Reply
To be quite honest, the project is likely to have a hard time when it comes to beating the competition. There are numerous centralized exchanges out there that are already providing tons of different services and are listing all the most popular coins. Furthermore, these exchanges do not just sit idly, waiting for someone to come and offer a better deal. They work on their own improvements as well.
Andrew August 9, 2019 Reply
In other words, the competition is more than tough, and Cointrade would have to really stand out in order to have a chance. Its team is small, they have no advisors, and they seem to lack a white paper — none of it works in their favor. But, who knows, people likely thought the same about Binance a few years back, and it still holds the title of the largest exchange in the world. Simply put, everything is possible when it comes to crypto, so it might be worth keeping an eye on Cointrade.
Peter July 19, 2019 Reply