#Exchange Cryptonex Review. Should you buy CNX token? Published 3 months ago on October 3, 2018 By Nadja Eriksson Share Tweet Comprehending the entire functioning of the Cryptonex protocol. Development of payment systems as the blockchain hysteria Many payment systems came into existence, with the inception of Bitcoin, but the only a handful of them was able to sustain the competitive edge, linked to the exponential development in the crypto space. Payment settlement systems like MoneyGram or Western Union money transfer had been dominating the financial domain before the advent of cryptocurrencies, a post which they experienced a steep downfall in their business as the Blockchain technology had incentives the entire process and had made its simple. Therefore, the potential of Blockchain technology can be experienced by its use cases and applications. Ripple is one of the most popularly used cryptocurrency payment settlement systems. Let’s read about the Cryptonex Project and its native token CNX token. What is Cryptonex? It can be considered as a decentralized exchange, which entails its payment settlement system. Initially developed by, the Investment Financial Group, which intern specializes in software development and management for various varieties of financial risks, provides a great way to improve the efficiency of the system. One of the most essential features and aim of the project was to make the crypto to Fiat and vice versa conversions seamless. Its dedicated payment cards or mobile can be made use of to accomplish nearly instant transactions with a minimal fee. How does Cryptonex function? The Blockchain based initiative is not built upon the traditional ERC20 Protocol, but incorporate it on exclusive blockchain platform for its functioning. Dum keyword incorporates the cost-effective proof of stake consensus mechanism which in turn uses the scrypt algorithm. This would indirectly increase the total supply of CNX tokens by 12% every year. To take part in the Proof of Stake mining, the users need to download the entire desktop client and keep the wallet online for as long as possible. The miners are rewarded based on the stake they hold within the system. The decentralized exchange is still under constant development. No specific details about how everything works have been shed light upon by the developers. What is CNX? CNX token is the native asset of the decentralized exchange and the payment protocol. The CNX token has been seen rising from time to time. The CNX token reached it all-time high in January 2018, where the price of the token reached up to $9.17. According to coinmarketcap.com, the current price of the CNX token is $2.18. The CNX token was made available to the public in October 2017. The total supply of the CNX tokens is fixed and accounts to 210,000,000 tokens. The fixed total supply would mark an increase in its value, as a direct consequence of the increase in scarcity of the coin. How to buy CNX token? Along with understanding the wallet capabilities The users, however, need a desktop wallet for storage of the CNX tokens. firstly the users need to register their respective wallets with the exchange and can buy CNX through significant Cryptocurrencies like Bitcoin, Ethereum, Ripple, etc or through Fiat deposits. the cryptocurrency wallet is capable of undertaking real-time transactions based on the real-time prices as it collects the data from various reliable sources. Interestingly, the wallet also is capable of converting one cryptocurrency to another in an integrated fashion. The future of the decentralized exchange is highly futuristic, as it provides a single platform to integrate myriad types of operations. Future of Cryptonex The payment protocol and the Decentralised exchange, entails one of the most notable features which is transparency. The blockchain protocol is open source in nature and all the inside workings of the exchange are not hidden from the public. It is also to be noted that various bounty programs, as well as referral rewards, are kept aside, in the form of CNX tokens by the Cryptonex platform, so that sufficient incentives are provided to the users to keep them attached with the exchange. There is not much scope in the price surge of CNX Tokens. Note: The following points are the views of the editors and may not be considered as an advice for investment in any of the digital assets such as Cryptonex or CNX. The cryptocurrency market is highly volatile and the investment in such assets is subject to market risks. 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Seven Popular Ways to Earn Bitcoin Bitcoin Whale Alert: 5351 BTC transferred to Bitfinex Bitcoin panic selling made easier by Coinbase 1 Comment 1 Comment Pingback: Cryptonex Review. Should you buy CNX token? – The Coinage Times Leave a Reply Cancel reply Your email address will not be published. Required fields are marked *Comment Name * Email * Website #Exchange Zebpay moves to Europe leaving behind India Published 5 days ago on December 13, 2018 By Joyce Lang Zebpay, which was known to be the largest cryptocurrency exchange in India has moved to Europe after the Reserve Bank of India banned financial institutions to deal with crypto exchanges in the country. Zebpay had closed down its operations in India in September while it had more than 3 million users already registered on the exchange. After the ban, Zebpay registered its entity under the name of Awlencan Innovations Malta Limited in Malta which is one of the most friendly countries known for crypto and blockchain business. Zebpay now in 21 European Countries: Zebpay announced on Tuesday that it has successfully launched its operations in 21 nations across Europe. The platform lets users trade crypto to crypto on its exchange and wallet. Also after a successful KYC procedure and banking verification, the users can deposit and withdraw EUROS to their Zebpay accounts. Currently, users can trade just Bitcoin with Euro but the company claims that they will soon add other cryptocurrencies to trade with Euro as well. Zebpay Marketing For the start, Zebpay has planned a good marketing scheme of offering zero fee deposits and zero maker fees. Also, the exchange is rewarding 0.25% of every transaction to its users till the 31st of December this year. Users can currently trade BTC to EURO, ETH to BTC, LTC to BTC, XRP to BTC, BCH to BTC, EOS to BTC and TRX to BTC. The new Bitcoin hardfork BSV is currently excluded from the list. Zebpay Entities: Zebpay is currently registered as Awlencan Innovations Malta Limited in Malta for its exchange and also registered in Singapore as Zeb Ventures Pte Ltd for buying and selling of cryptocurrencies on its mobile application or Zebpay App. No Registrations from India: Zebpay has clearly declared that it is not accepting any new registrations from India, the country where Zebpay originated. Cryptocurrency banking is still prohibited in India and there are rumors all around the country that the government is soon going to declare cryptocurrencies totally illegal which means that no one would be allowed to trade or even store any cryptocurrency such as bitcoin. Continue Reading #Exchange Is BitMEX trading against their customers? Foul play at BitMEX? Published 6 days ago on December 12, 2018 By Joyce Lang BitMEX is currently the largest Bitcoin Exchange according to trading volume, and BitMEX research is going pretty good regarding market research, but is BitMEX really that ethical? Let us explore. Registered in Seychelles, BitMEX is not required to report to any regulator. This article is sourced through various articles submitted on Medium, Reddit and social media like Twitter. Does BitMEX trade against its Customers? Before I start to answer this question, let us understand the concept of Market Making. Market makers are the one responsible for filling up the order books. They also buy and sell continuously, proving the necessary liquidity to the market. Market makers quote on both sides of the order book, that means both the buy side and the sell side. If their buy order gets executed, their immediate plan is to execute the sell order as well, thus acting as a neutral market maker. So a market maker profits from a spread instead of up-down movements of the market, in return offering quick liquidity to the users. The question is thus, is BitMEX acting as a neutral market maker (which is a positive service to its customers) or not. On 30th of April, 2018, MitMEX updated its Terms of Service. It says: “BitMEX has a for-profit trading business that, among other things, transacts in products traded on the BitMEX platform. The trading business primarily trades as a market maker” BitMEX also states that its profit does NOT come from trading: BitMEX claims that its goal is to breakeven regarding profit and loss and that they make money by the service fee paid by the business. But unfortunately, there is no way to check BitMEX’s audit report as they have never released an external audit of their business. BitMEX’s legal counsel, Sullivan & Cromwell was silently removed from their blog post from April. It’s earlier post stated this: Later in May 2018, the updated post said this: It is a possibility that Sullivan & Cromwell separated from BitMEX because it had issues with the exchange’s plans. BitMEX’s Desk should not be allowed to trade freely on the exchange Let’s assume the owner (or owner’s employees) of an online casino is allowed to play its own game, can he resist from not looking at everyone else’s cards? Same goes with an online Bitcoin exchange. If BitMEX’s desk is allowed to trade on their own exchange freely, we can expect a similar outcome. This gives “extra information” to the desk, which is not available to all other customers. While some information is available to all the customers, for example, the order book or the past trades, additional information like the degree of leverage of each position or the price at which it will run out of margin is private and is only available to the BitMEX’s desk. In a blog post, BitMEX has denied that it gives this explicit information to its desk, but BitMEX has not agreed to give out equal information to all the customers especially the two mentioned above. Many users suspect that BitMEX gives unfair advantages to its desk. What are your views on the above? Comment below and let everyone know. Continue Reading #Exchange Will Switzerland’s FINMA license boost cryptocurrency prices? Published 2 weeks ago on December 4, 2018 By Layla Harding The Financial Supervisory Authority of Switzerland is planning to authorize cryptocurrency exchanges registered in the country to act like commercial banks with new licensing starting from 2019 allowing them to store the deposits of trades up to 100 million Swiss Franc (100302400 USD). The government of Switzerland has been cryptocurrency friendly by providing cryptocurrency regulations and inviting more and more cryptocurrency related businesses to register in the country. What the FINMA license will work? The reserves held with the exchange which has a limit of 100 million Swiss Franc cannot be invested funds. The exchanges who would like to register under the new license shall convey their request to FINMA demonstrating their business plan and scope for the next 3 years and mentioning about their targeted customers. The registrations shall be checked in depth by FINMA and the history and criminal records of the officials of exchanges applying shall be examined carefully before granting the license. For the overseas exchanges (outside of Switzerland) wanting to obtain the license shall register all their shareholder who holds more than 5% of the companies stake under the license agreement. The government of Switzerland has been adopting new technologies such as blockchain and cryptocurrencies very quickly in comparison to other nations which make Switzerland one of the top nations for crypto and blockchain businesses. Recently, the government of Switzerland had approved the world’s first cryptocurrency ETP on SIX EXCHANGE which is one of the largest stock exchanges in Europe. The question which arises here is that with more and more nations around the world are adopting cryptocurrency and blockchain technology, is a price boom foreseen? What are your thoughts? Tell us in the comments section below. 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