Over a couple of years now, cryptocurrency world has experienced a tremendous growth. People are more versed about buying and trading of cryptos than ever before. In order to accommodate for this expansion, a lot of cryptocurrency Exchanges have sprung up to meet traders’ demands but many of them have either failed or disappointed them.
This and other factors have frustrated many participants from the crypto world. For instance, every trader would prefer a platform where he could easily convert his cryptos to fiat currency without difficulty. But many of these Exchanges only give room for crypto to crypto transaction; others that do offer crypto to fiat do so at a very high cost.
Withdrawing your crypto into your local bank account from these Exchanges will incur a lot of charges which can be a discouragement for new participants and even the existing ones. Some may take days before the money is being processed with no help from the customer service. To nip this and other recurring crypto exchange problems in the bud, XCOYNZ is coming up with a platform that will put smile in the faces of all traders.
XCOYNZ Overview
XCOYNZ aims to disrupt the Crypto Exchange world with a platform that allows individual to define the fees as well as accelerated fiat withdrawals and a Smart Algorithm Wallet. This means there will be no more timewasting, high costs and ambiguity which have disallowed many people from participating in cryptocurrency.
Problems with Some Cryptocurrency Exchanges
Many Exchanges create platforms for only crypto to crypto exchange. The others that offer crypto to fiat do so at a very high cost which is at the disadvantage of the trader.
The transaction fees of Exchanges ranges between 0.5% to 4% per transaction which are outrageous and discouraging.
It is one thing to exchange your crypto into fiat, it is another thing to have the asset in your bank account. Individual’s experience from exchanges proved this process to be herculean as many services have to be involved thereby incurring a lot of charges. Also, the service can take up to 6 working days before being processed.
Some of these Exchanges do not care about the traders’ business; they are only concerned about the volume of their crypto assets on their platform
Exchanges will try as much as possible to cripple any attempts by the individuals to transfer their crypto assets to their bank accounts as fiat.
XCOYNZ SOLUTION
XCOYNZ Exchange
The issue of fiat to crypto, crypto to crypto and crypto to fiat will be resolved with XCOYNZ Exchange. Also, users will be allowed to define the fee for each transaction. Having one’s crypto assets into the bank account will also be accelerated with the use of X-Swift which is based on a private XCOYNZ Blockchain.
XCOYNZ Smart Algorithm Wallet(SAW)
This enables you to have all your crypto assets into one wallet (SAW). It also has a function that informs you on which Crypto to sell or HODL.
Others solutions provided by XCOYNZ can be found on their whitepaper here
XCOYNZ Tokens
The symbol for the token is XCNZ. This token will be used by users on the XCOYNZ Exchange for setting transaction fee, X-Swift withdrawal and others.
The Team
XCOYNZ team is made up of prominent and experienced personnel who have spent many years in their various fields.
Conclusion
With new exchanges cropping up every day, individual has to be financially carefully before doing business with them since many are created to swindle masses’ money. XCOYNZ is set to bring hope to the traders by eliminating the hassles they face when dealing with others exchanges.
Useful links
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Whitepaper
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