Are you looking for a cryptocurrency exchange with low transaction rates and excellent service?
Looks like the team behind WCX exchange may have something in store for you.
WCX is a new cryptocurrency exchange that is set to launch on 10 October 2017. The WCX Exchange is based in Hong Kong but will be accessible to over 190 countries and in 20 different languages. At its launch, the exchange will allow trading in Bitcoin, Ethereum, Monero, Ripple, Litecoin and USD Tether. The exchange intends to add more coins once operations ramp up. Why did the team think of setting up another cryptocurrency exchange?
Why the need for the WCX Exchange?
The team behind the WCX exchange comes with many years of experience in consumer software products and financial markets trading. The team members have worked in companies such as Apple, IBM, and Deutsche Bank. They think that current cryptocurrency exchanges are expensive and inefficient.
Many exchanges have geographical restrictions in where their customers can trade. As such, they do not cater to the worldwide audience.
Also the current exchanges are plagued with customer support issues. Some of the challenges there include slow execution of trades or loss of coins.
The alternative to the current exchanges is the WCX exchange. Its two key value propositions are Tiny Fees + Superior User Experience. Lets look at these two now.
- The WCX exchange expects to charge the lowest fee per transaction of 0.1%. These fees are at least 4 times lower than the market average. You will also get credited the fees if you are maker. This means that you get more money for you.
- The WCX Exchange dashboard is expected to intuitive and simple, yet will provide you with sufficient detail to trade. The interface is expected to make your trades really easy on any device that you choose. The charts that will be provided would be customised based on your trading experience.
The WCX ICO
On 1 October 2017, the WCX Initial Coin Offering will begin. If you are keen to spend at least 6 Bitcoin, you can currently take part in the pre-sale. The WCX will have a hidden cap, that is known only to the development team.
During the ICO, you can spend buy the WCXT token, which is an Ethereum blockchain based ERC20 token. For every USD that you spend in BTC or ETH, you will be credited with 10 WCXT. Tokens that are not sold will be destroyed and the remaining supply will be the max supply of WCXT.
Based on the hidden market cap, 87% of the WCXT tokens will be available for pre-sale and ICO sale. 5% will be reserved for pre-ICO marketing and bounties. The remaining 8% will be reserved for the development team and its advisors.
The team is committed to develop a product that is ready, before the ICO begins. The beta launch of the product is planned for 1 September 2017. This will give you a chance to see the product and understand if you should invest or not.
On a monthly basis, WCXT holders will be paid from the 20% of all revenue generated by WCX. In this manner, you will hold a passive income portfolio.
What to look out for
If you are keen to invest in the ICO, here are 4 concerns you need to be aware of:
- Final Product not ready – The team will launch its beta test in September. It is not certain if this will be accessible to all. Without a final product, it may be difficult for you to spend your cryptocoins.
- Lack of details on the team – Besides the line about having experienced Silicon Valley and Wall Street team members, there is no visibility on the team behind this exchange.
- Hidden market cap – this sometimes can be bad, as whales can end up buying most of the tokens and then playing the market.
- Pre-sales handling – Users have not liked the way the pre-sale has been run. You are given only 24 hours to invest a significant amount of crypto.
If the above concerns are addressed properly, the WCX exchange could be off to a great start.
There is a large potential for cryptocurrency exchanges in the market. However, it needs the exchange to deliver on what it promises. Making trades easier and cheaper for the customer. Can the WCX exchange deliver on its words?
The WCX exchange currently is running a referral promo. Please use this link to sign-up https://wcex.co/?ref=f7OQ4Qj or you can choose to not use the referral link https://wcex.co