Categories: EducationFAQ

What Is COBINHOOD?

With the cryptocurrency industry becoming a lot more popular lately, it is only normal that there is more competition among exchanges and trading platforms. Right now, most centralized exchanges have a few things in common, including trading fees and a lack of tradable currencies. With COBINHOOD, that situation will change sooner rather than later. It is the world’s first zero-fee exchange for cryptocurrency trading and is entirely funded through its initial coin offering proceeds.

What is COBINHOOD Really?

COBINHOOD is a decentralized cryptocurrency exchange which operates with zero fees for all participants. There are no maker or taker fees to speak of, which is a more than welcome change. The team claims it is the first exchange in the world to offer zero-fee trading at all times, which is rather impressive. It is also worth mentioning that the COBINHOOD exchange is available on mobile devices through a native application, making cryptocurrency trading even more convenient.

Features Which set COBINHOOD Apart

Even though we could use more platforms which do not charge trading fees, it remains to be seen if we will get them. Traders will enjoy this perk as they can maximize their profits with ease, and there is also zero trading fee for spot trading and margin trading with up to 10x leverage. 

Furthermore, the exchange prides itself on storing the great majority of its digital assets in an offline multisignature vault. Using additional security when dealing with other people’s money is no unnecessary luxury in this day and age of exchanges being hacked virtually every other month. COBINHOOD requires 5-of-8 geo-distributed hardware security modules to access the offline

Related Post
multisig vault. Any funds kept in online wallets are fully backed by insurance in order to recover any losses if things were to go awry.

Additionally, COBINHOOD will provide a high-performance order matching engine. Various other exchanges have suffered degraded performance in this regard, which makes the addition of COBINHOOD to this industry all the more important. Its entire infrastructure is fully distributed and automatically scalable to deal with a heavy influx of new users when necessary. It never hurts to take precautions just in case COBINHOOD suddenly were to become the world’s go-to cryptocurrency exchange.

The COBINHOOD Token

To build this new zero-fee cryptocurrency exchange platform, the COBINHOOD team organized an initial coin offering. As part of this crowdfunding project, they issued COBINHOOD tokens, known as COB. COB token holders get 50% off margin trading loan interest when using the token to pay for expenses. Additionally, they will be eligible for future ICO tokens underwritten by COBINHOOD. It is possible that additional benefits will arise in the future, but for now, those are the main selling points.

What Does the Future Hold for COBINHOOD?

Even though this zero-fee exchange platform is fully operational as we speak, the COBINHOOD team’s work is never done. As of right now, the team is working on listing additional tokens and trading markets, as well as improving certain advanced trading features. A fair few tokens are being added every single week, and the company keeps its users updated on Medium in this regard. All things considered, it’s well worth one’s while to keep an eye on this new trading platform.

JP Buntinx

JP Buntinx is a FinTech and Bitcoin enthusiast living in Belgium. His passion for finance and technology made him one of the world's leading freelance Bitcoin writers, and he aims to achieve the same level of respect in the FinTech sector.

Share
Published by
JP Buntinx

Recent Posts

Aptos (APT) and Tron (TRX) Prices Slide, As Volume Soars For Rollblock Suggesting Parabolic Rally

As Aptos and Tron prices take a recent downturn, the spotlight shifts to Rollblock, whose…

5 hours ago

Altcoins to Watch in November: Binance Coin (BNB), Rollblock (RBLK), and Neiro (NEIRO)

As the crypto markets roll into their most bullish time of year, we present three…

5 hours ago

Analysts Forecast $1 for Cardano and Lunex Network As Dogwifhat Plunges To Former Lows

As the crypto market prepares for a major rally, experts believe that two top altcoins,…

5 hours ago

Retail Traders Panic Sell During ‘Fake Dip’; Whales Hold Tight to SOL, DTX, and SHIB for a Millionaire-Maker Bull Run

Solana (SOL): A Strong Ecosystem Despite Volatility Solana (SOL) has been all over the place…

6 hours ago

Llama 3.2 Predicts Price For Dogecoin: $2 Peak By 2025 And $5 Rally For DTX Exchange This Winter

Cryptocurrency trends are keen on the forecast that was recently released by Llama 3.2 model…

7 hours ago

Crypto Whale Sparks 8x Surge In $OPK Price with Massive Buy-in

A mysterious crypto whale, who previously invested 9,600 SOL into tokens $Pnut and $FRED, has…

8 hours ago