Coinxes is a peer-to-peer cryptocurrency exchange founded in 2017 by two digital entrepreneurs and crypto enthusiasts from Great Britain. The primary distinguishing feature of Coinxes is that this platform affords an opportunity to exchange or purchase tokens which are being sold during ICOs or STOs using local fiat currencies thus eliminating the necessity of acquiring Bitcoin or Ethereum first. The project introduces their own ERC-20 token Coinxes Gold (CXG) which can be traded against other cryptocurrencies, used as a mean of payment for tokens sold through ICOs, execute international remittances, and reward the most active members of the Coinxes community.
Edema Omademi is the first of two founders of Coinxes, both of which have successfully undergone the verification procedure on most ICO discovering platforms. Mr. Omademi is an expert in the field of information technology with nine years of professional experience under his belt. Before immersing into the development of Coinxes, he had provided expertise for Powells Consult LTD and ACDR.
Olala Adeleye is the co-founder who has a particular knack for operations management. Before becoming fully engaged with the blockchain project, he worked for Pearson, the well-known British publishing corporation. At Coinxes, Mr. Adeleye undertook the role of a chief account manager.
Coinxes has a particularly attractive feature which can be characterized as a one-fee scheme. More specifically, users will have to pay only a 1% deposit fee whilst all other operations (trading, exchanges, and withdrawals) will be exercised for free.
The platform also assumes the role of an escrow system to indemnify all users from any maleficient actions, such as cyber attacks. It established a direct connection between both parties of the trade: the seller puts a certain amount of cryptocurrency in the Coinxes escrow due to be released only after the confirmation of the reception of funds, for instance, US dollars from the buyer.
The next important goal realized by Coinxes involves making the platform accessible to the users who don’t have the full grasp of crypto trading terminology in such universal languages as English, Chinese or Spanish. For this purpose, the platfrom was localized to 50 languages to accommodate the needs of all traders. Such an expansion of the range of available languages, along with with the possibility of fiat-to-crypto trading/exchange and the incorporation of 300 payment methods, makes Coinxes probably the only peer-to-peer platform that facilitates the mass adoption of cryptocurrencies.
Another interesting feature of Coinxes is the user feedback which can be left by any trader after the operation has been finalized, which allows the novice users to learn from the more experienced ones.
The token counter is the unique trait of Coinxes that enables users to purchase the ERC-20 tokens, offered during the selected ICOs or STOs, using their local currencies or the Coinxes Gold tokens. If realized properly, this feature could signify a real breakthrough in the field P2P exchanges, but it also offers some ground for manipulation should the founders decided to give preference to some ICOs over others.
The Coinxes public sale is due to begin on July 1. The official website also informs that Coinxes will be listed as an IEO on the crypto exchange Latoken. 117 million GXG will be allocated for sale with $0.2 being the price of one token. The minimum purchase was established at 250 CXG.
Author: Alex Paulson for Crypto-Rating.com
|Start||July 1, 2019|
|End||August 31, 2019|
|Soft cap||$1 000 000|
|Hard cap||$21 600 000|
|Minimum investment||250 CXG|
|Tokens for sale||117000000|
|Accepting||ETH , BTC|
Coinxes looks to me like a hastily concocted project with no real substance behind it. Apparently, the guys from Coinxes just want to make some quick bucks by offering a simplistic solution to some inexperienced investors. The things that they present in the whitepaper could have worked back in 2012 or something, when crypto exchanges were still in the cradle, but to try and enter the market with a promise of translating the platform to 50 languages really makes a laughing stock out of Coinxes. We all know how it would be translated by Google or some incompetent freelancers. So, please, do yourselves a favor and steer clear of Coinxes.
Personally, I don’t buy into all that sweet talk by the Coinxes team, promising the no-fee trades and all that. How could one sustain such a complex platform only charging 1% deposit fee? This is either a hoax or one very generous and altruistic project. I don’t believe in altruism when it comes to business. Besides, I couldn’t find any concrete technical specifications with regard to the exchange architecture. No offense, but who cares if it is translated to Korean or something? I would like to know how the system works. In my opinion, Coinxes is one poorly-featured project.
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