Today, the Belarusians have announced the launch of the cryptographic exchange
On December 19, Currency.com received the first and so far the only license for cryptographic trading from HTP. The developers call the project the first in the world: it allows trading and investing in traditional financial instruments, using both cryptov currencies and fiat money, while being regulated by law.
This is the sixth joint investment project of Larnabel Ventures Said Gutseriev and VP Capital Victor Prokopeni, who in December 2016 announced plans to invest more than $ 100 million in projects in the field of smart technology.
What problem does Currency.com solve
Currency.com will trade tokenized assets for commodities, shares and indices linked to the underlying market value of traditional financial assets. It will be possible to buy and sell assets on the exchange for two major cryptov currencies (bitcoin and etherium) and for ordinary money. It is also possible to trade with non-residents of Belarus. Investors may be attracted to legally convert cryptov currencies into fiat money, experts say.
– Most ways of using cryptovalues are related to investments,” explains the project manager Viktor Parhament. – At a time of uncertainty about the growth or decline of the cryptovoltaic currency, investors want to be able to diversify their cryptoportfolios. We see great demand among crypto-investors for access to traditional markets, for Apple, Facebook, Tesla, gold, silver and oil shares. To do this today, investors need to go “out of crypt” into fiat money, which many do not want to do. Currency.com solves this problem. We ensure market integration by issuing ERC20 tokenized stock exchange assets, which allows investors to invest in the world’s leading stocks, indices, commodities, bonds and other financial instruments “without leaving the crypt.
Currency.com will also provide ICO (initial coin offering) and TSO (tokenized securities offering) underwriting for innovative projects approved by Currency.com board, shares Victor Parchment’s plans. This means that any company of any form of ownership can issue its own tokens and start quoting them on the exchange.
What are tokenized stock exchange assets
Tokenised securities are tokens that represent the value of underlying assets such as securities, precious metals, commodities or bonds. In terms of economic result for investors – profit or loss – they are similar to stocks, bonds, commodities, derivatives, futures and other financial instruments.
Currency.com will allow investing in 10,000+ tokenized assets. Over 150 types of tokens representing financial markets will be available from the first day. These will include stocks (Amazon, Apple, Volkswagen and Coca-Cola), indices (Dow Jones 30, S & P 500 or Nasdaq 100), precious metals and commodities (gold, silver, platinum, palladium, Brent oil and others).
How does the platform work?
Registration. The user provides his name and address, downloads a passport scan and address confirmation. The client will be offered questions to determine whether there is sufficient level of competence in the field of cryptovoltaics and finance.
Deposit. The deposit can be made in US dollars, euros, Belarusian or Russian rubles, bitcoin or on the air. Currency.com promises that this list will be expanded in the future.
Investments. Suppose you want to invest in a tokenized stock of Apple. You must buy an Apple.cx token on the platform by paying its market value at the time of purchase, for example, $153. The payment can be made in fiat or cryptovite.
An Apple.cx token is transferred to your account and from now on, you will bear the same risks and rewards as an Apple Shareholder. For example, receive dividends, sell, and make a profit if it goes up in value. Or suffer a loss if, conversely, it’s gone down. Profits that you earn in this way are exempt from taxation under Decree No. 8.
Withdrawal of funds. Funds may be withdrawn from the exchange at any time. It is also possible to withdraw the tokenized assets themselves.
How are the tokens secured? When an investor buys a tokenized asset, e.g. Apple.cx token, Currency.com purchases the corresponding derivative instrument from its infrastructure partner Capital.com, regulated by the FCA and CYSEC (financial regulators of Great Britain and Cyprus). Thus, the tokens are provided with the corresponding financial instruments at any given time.
How to become a client? From the first day, the crypt exchange will not register everyone. After the official launch, users can sign up on the waiting list, access to the platform will be provided in a queue on the waiting list (no need to sign up already, just sign up on the link and start earning shorts or long).
For those who do not want to wait, it is possible to access earlier. Inviting friends to sign up on the waiting list, the person who invited you is progressing in the queue. Those who have already registered will be able to receive referral codes from Currecny.com. With these codes you can invite your friend to the platform without queuing and get 50% of his trading commission for the first 6 months.
At the first stage, when registering at Currency.com everyone gets a bonus trading capital – $50 (the promotion is not valid anymore, but other gifts appear periodically, but you need to have money on the exchange account).
How is security ensured?
– We have encryption everywhere,” says Dmitry Ushatsky, IT manager of the project. – Privacy Guard for secure document download, we encrypt everything and everyone. For example, we have AES-GCM with a 256-bit secret key, cryptographic modules according to FIPS 140, data centers of our partners are PCI DSS Level 1, ISO 27001, ISO 27017, ISO 27018 and ISO 9001 certified. We also use the good old GPP peg for important reports.
– Currency.com staff is carefully reviewed and each solution goes through a strict approval protocol. Our servers are housed in an ultra-secured enclosed area maintained by LD4 Equinix, one of the world’s leading data centers. They are protected by armed security, video surveillance and retina scanning. LD4 Equinix is used by many of the world’s leading exchanges, including Dow Jones, Nasdaq, London and Frankfurt.
The compliance team for monitoring customer data, identifying the origin of tokens and funds and tracking suspicious behavior “includes experts with extensive experience in financial, banking and crypto protection,” Ushatsky said. The group will also monitor customer data, identify the origin of tokens and funds and trace suspicious customer behavior.
– We will adhere to strict industry standards and regulations against money laundering (AML), as well as ensure data protection at a level comparable to GDPR in the EU. In terms of investment and customer data protection, this means that the company is subject to best-in-class security procedures,” adds Alexander Shevchenko, Currency.com Bel.
Currency.com uses the best blockage analysis services, such as Coinfirm, Elliptic and Chainanalysis, to verify all the transactions that take place in the encryption and bitcoin blockage.
The audit partner of Currency.com Bel is Deloitte. According to the requirements of the Belarusian legislation in the field of cryptovoltaics, the Big Four company will audit Currency.com for compliance with the standards and established rules on a periodic basis.
Why did Currency.com choose Belarus to launch the project?
Tokenized assets are the last powerful trend in the industry today.
Belarusian regulation of the cryptovoltaic industry is now suitable for companies planning to issue tokenized assets.
Many countries apply securities legislation to such cryptographic assets, which makes tokens just another type of security and contradicts the root principle of the blockchain – decentralization. Belarusian legislation in the field of cryptography, developed “from scratch” with the participation of world experts, including consultants from the Central Bank of Switzerland, makes Belarus an attractive cryptographic jurisdiction, experts say.
– Many countries of the European Union have tried to create attractive conditions for such businesses, but could not due to the supranational legislation. In the EU countries, the transfer of token does not mean the transfer of the relevant right. In this case, a separate contract of assignment of the right is required, and the token and its transfer are equated to “zero”. In fact, it is no different from a “branded T-shirt” issued by a company in case of sale of a share. The T-shirt can be transferred, but it does not entail the transfer of rights to the share,” explains Viktor Pargament.
Belarus is the first country in the world, which has formulated a provision at the legislative level that the transfer of token means the transfer of the appropriate right arising from it.
The experts also note the favorable tax conditions for cryptographic business operations in Belarus. Income from activities with cryptographic assets is exempt from taxes. Thus, if an investor receives dividends from holding a real Apple share, he must pay tax. If an investor receives dividends from an Apple.cx token, the tax does not arise.
Who’s on the project team
There are 73 people on Currency.com. The Currency.com team has been creating and optimizing international financial services platforms for banks, brokers and market makers for the last five years.
Part of the Currency.com team has considerable development experience in EXP (Capital), which is a non-bank market maker providing ultra-high-frequency liquidity in a number of asset classes on the world’s leading trading platforms.
Register via the link enter money and start earning you can start earning from $14 at the time of writing the article in bitcoins only 0.002, which is $14 at the rate of $70,000 per bitcoin.
Tagged Currency.com, bitcoin, earned at home.
Currency.com is a regulated exchange of tokenized assets, where you can invest in traditional assets: stocks, stock indices or commodities.
One of the problems of the cryptovoltaic industry, which prevents the widespread recognition of digital assets and the arrival of large institutional investors, is the lack of regulation and creation of greenhouse conditions for the development of cryptovoltaic projects and their integration with traditional economic systems and business. This trend is gradually changing, with individual states starting to develop laws to regulate the digital economy and helping cryptovrency companies to operate within the legal framework.
In January 2019, the Currency.com cryptovrency exchange of tokenized assets was launched. Its license was issued in accordance with the presidential decree “On the development of the digital economy,” which came into force in March 2018.
Currency.com is a regulated cryptovoltaic exchange of tokenized assets. What does it mean? The platform allows its clients to invest cryptov currencies in tokenized traditional assets such as stocks, stock indices or commodities. Whereas previously the purchase of, for example, shares of Apple or another corporation was only available through a brokerage company for fiat money, with the advent of Currency.com you can buy tokenized shares and other assets for bitcoin, air or lightcoin.
This feature allows cryptovite investors not to wait for the bitcoin correction or the next sideways in the cryptovite market, but to invest cryptovite in traditional assets much more freely. For example, during another lingering sideways trend, one can pay attention to gold or oil and make money in these markets.
In addition, the diversity of assets gives traders the opportunity to protect their capital from possible risks. As you know, some cryptov currencies are still subject to various manipulations, and since other exchanges offer nothing but cryptov currencies, in case of another dump on one of them, a trader may lose a significant part of money. Using traditional and completely non-correlated assets, a cryptovite investor protects its capital from market manipulations. This is important because in the event of strong fluctuations in the exchange rates of the crypt currency, most of the coins will be stored in more stable traditional assets.
Currency.com exchange works in the legal field and is regulated by the legislation of the Republic of Belarus. Personal data and assets of users are under legal protection, and the activity of the exchange itself is fully transparent and subject to independent audit from the company of the “Big Four” – Ernst&Young.
Belarus was one of the first countries in the world to define the legal status of cryptographic currency. The country introduced a decree “On the development of the digital economy” on October 21, 2017, which regulates the procedure for working with tokenized assets, cryptovalues and exchanges.
Terms and conditions of trade
On October 8, 2019 Currency.com announced that the spread on two major cryptovoltaic pairs had been narrowed. On BTC/USD spread was reduced to 5 cents, and on ETH/USD pair to 1 cents. It should be noted that spread on these pairs is fixed regardless of market volatility, its size does not change. As of today, these are the narrowest spreads on the cryptovoltaic market.
Trading commissions for the following instruments have also been reduced:
Crypt currency pairs with leverage – commission was reduced to 0.075%;
Leveraged shares – commission was reduced to 0.0125%;
Commodities – commission rate decreased to 0.05%;
Shares – the commission fee was reduced to 0.05%;
Indices – commission rate decreased to 0.05%.
For comparison, the trading commission on the largest cryptovrency exchange Binance is 0.1%, on OkEx – from 0.1% to 0.15%, which is two times higher than on Currency.com. As for other types of assets, they simply do not exist on the crypt currency exchanges, traders have access only to leading coins and tokens.
Client security is ensured not only by regulatory requirements to the exchange, but also by internal means of protection. Personal data of customers is securely protected by cryptographic encryption and stored on LD4 Equinix servers, whose services are used by such industry giants as NASDAQ exchange.
The company strictly complies with FATF AML and CTF (Anti-Money Laundering and Counter-Terrorist Financing) requirements and tracks suspicious transactions to detect fraudulent activity using software from leading block companies: Chainalysis, Coinfirm and Elliptic. In addition, the site undergoes regular security audits.
You will not buy there Bitcoin, which was previously involved in financial schemes of terrorists or drug dealers. Accordingly, avoid the potential risk of questions already to you as a participant in these operations.
The benefits of
Advantages of Currency.com
Wide variety of assets. More than 1300 of the world’s most liquid assets are represented on the exchange: stocks, crypt currencies, stock indices, commodities, bonds and ETFs. No other crypt-currency exchange can boast such diversity of assets. For traders, such a wide range of assets enables them to diversify their trading portfolios and create sophisticated investment strategies, making trading not only interesting and smart, but also profitable.
Trading with leverage up to 100x. In addition to the opportunity to buy traditional financial instruments for crypt currencies, the exchange provides margin trading with up to 100x leverage.
Methods of deposit and withdrawal. You can replenish your balance and withdraw funds in BTC, BCH, ETH and LTC crypt currencies, as well as in fiat currencies: Euro, American dollar, Russian and Belarusian rubles. Fiat replenishment is possible both by bank transfer and with Visa and MasterCard cards. Besides, Currency.com became the first crypt currency exchange to open an account for accepting payments at Sberbank, which is especially important for clients from Russia and CIS.
Russian-speaking localization. Currency.com is not only focused on the international market, but also pays special attention to clients from Russia and CIS countries. There is a Russian-language support service available on the exchange, which will help you quickly resolve any issue you may have. All information on the website and the trading terminal is translated into Russian.
High speed of work. The platform uses advanced technologies and software, which allows processing more than 50 million transactions per second and helps to avoid price slippage, “brakes” under high load and errors when opening trading positions.
Referral Program. For those who are not yet able to trade on their own, the platform has a profitable affiliate program, in which anyone can become a member. Partner receives up to 50% of the trading commissions of the mentioned clients. A client gets a 10% discount if he uses a referral link.
Quick verification. The exchange works in accordance with the rules of KYC and AML, so to perform trading operations you need to pass the verification procedure, but unlike other exchanges, where the procedure of KYC may take from several days to several weeks, on Currency.com it takes less than an hour.
Mobile application. For those who are on the move and do not have the ability to use a computer, the exchange has mobile applications for iOS and Android, which allows you to constantly monitor the market situation and make quick trade decisions if necessary.
That is why the exchange attracts not only clients, but also investors. In 2018-2019,