Cryptoxygen is a fintech company that is working on developing a state-of-the-art crypto exchange platform that grants the opportunity to convert cryptocurrencies to fiat and vise versa...
Cryptoxygen is a fintech company that is working on developing a state-of-the-art crypto exchange platform that grants the opportunity to convert cryptocurrencies to fiat and vise versa. This feature is still quite rare among the majority of such exchanges, but Cryptoxygen managed to implement it by becoming, as they claim, the first crypto trading platform in Europe that is fully compliant with financial regulations and holds the official license issued by the authorities of Estonia, arguably the most blockchain-friendly country in Eurasia.
Another Cryptoxygen’s distinguishing feature is that their trading platform will be integrated directly with Thompson laptops thanks to the partnership agreement concluded with the reputable manufacturer of hardware from France. In fact, Stephan Francais, one of the founders of Cryptoxygen, also happens to be the president of Group SFIT/Thompson Computing.
Before getting down to describing the unique characteristics of Cryptoxygen, it is necessary to mention some peculiarities added to the basic functions. For instance, the promptness of transaction between different cryptocurrencies, carried out within the exchange, is optimizes by the smart matching engine.
Cryptoxygen delegated the task of transaction processing, which involves fiat money, to a third party to enhance the safety of such operations. Althought, the users would be obliged to provide their personal details to that party as well, which is a downside in terms of data management.
Nevertheless, the exchange platform will have the widest range of fiat currencies to form the trading pairs with crypto. As of now, Cryptoxygen had already introduced EUR and two stablecoins, namely Tether and TUSD, with the prospect of adding USD and GBP in the nearest future.
To ensure extra operational safety and expedite the transactions, the exchange will allocate substantial reserve funds in both crypto and fiat that will allow for seamless operation even during the peak periods.
Speaking of trading fees, Cryptoxygen will apply the same approach used by Binance, cutting the trading fees by half if the user chooses to cover it with their native token - OXY2. The utilization of this token will also grant the 0% fees on transactions between the exchange and the Cryptoxygen wallet.
The wallet itself will have the biometric authentication to safeguard the user account against theft and other cyber threats. Moreover, it will provide the option for easier currency transfers with the help of QR code. Finally, the wallet interface will have a section that allows users to track the status of their transaction on the blockchain in real time.
Apart from the host of functions that concern trading, which isn’t particularly different from other exchanges, Cryptoxygen carries an educational component. It is embodied in a special practice add-ons which afford newbie traders to get acquainted with the interface before start spending real money. Also, Cryptoxygen offers in-house online trading courses for those who’d like to hone their skills. The platform also has a social trading option which provides the inexperienced users with an opportunity to emulate the strategies of successful traders.
OXY2 is the ERC-20 token that will be used for trading purposes as well as for obtaining lower fees and getting access to special memberships and loyalty programs.
As of now, Crytoxygen is in the 3rd phase of ICO that is due to last until June 30. 150 million OXYG tokens were issued for sale with the price for one token being established at $0.18. There are no restrictions with regard to countries that can participate in the token sale.
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