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What is WEX?
WEX is an exchange platform that was founded in 2017, although many would argue that it is a re-branded BTC-e after its closure due to some legal difficulties. FBI accused BTC-e for money laundering and other crime related actions that are illegal in most of countries and forced to closure of exchange. However former BTC-e accepted US based investors and WEX does not do that.
Wex Review
New WEX exchange was founded in financial capital of Far East in Singapore, and it obeys only to the local regulations. And in Singapore cryptocurrencies are approved by Monetary Authority of Singapore (MAS) and classified as security. The only regulation required in this country is SFA standing for Securities and Features Act.
How to open an account on WEX
Getting an account on platform is not the easiest process among other platforms. So to open up an account firstly users need an active email and after that to feel 2 step verification. Also platform requires in case of need to provide ID and home country address and even selfie picture with your ID or passport for proof of document.
What can you trade on WEX?
It is very easy for new users to enter the platform, it can be done with both fiat or cryptocurrency since both of them are supported. Platform unquestionably accepts major coins like Bitcoin, Ethereum and Litecoin but also supports many altcoins like Zcash, Peercoin, Bitcoin Cash, Novacoin, Dash and Namecoin. Although credit cards are very popular among traders Wex does not support any transactions on cards.
What are the fees on WEX?
Similar to other exchange platforms Wex generates profit from charging users a commission fee for transactions. Developing new account is completely free both for individual users and corporations however depositing any amount will cost users at least 20 USD/EUR and industry standard 0.2% for trading betwee different tokens supported by platform.
The WEX platform
WEX is a very young platform and for now it offers just a trading platform and nothing more. It is good for attracting new comers to crypto currency market with the simplicity in interface design. It has only place to sell and place to buy and no place for advanced charts on statistics. That is the reason why platform is not popular among more experienced users who need to see on time statistics on platform.
WEX security
Today crypto exchange platforms are becoming more like a traditional banks with the billion dollar operations. And as any bank they are more and more being targeted for heist by hackers. It is hard to guarantee full security even if the platform is in such technologically advanced countries like Japan or South Korea. As it is mentioned before WEX takes serious steps on securing its users and very carefully accepts new users. Exchange reported that in the first month of the year they handled over 100 hacker attack to their user accounts.
Conclusion
It is absolutely clear that WEX is much improved version of its ancestor and it had learned all lessons from past experience. However it still has long path of overcoming prejudices regarding its former users and customer who cannot access their accounts. Even though platform enhanced its security technology it lack many other aspects of exchange platforms and WEX have to work hard to compete with other more established players on market.
What is ZeroBank?
ZeroBank was founded in China as exchange platform, but later on it moved its headquarter to Hong-Kong. Since Hong-Kong is considered as more autonomous part of China it does not have to obey to all strict regulations of mainland China, and that was the main reason of moving. Today ZB is one of the biggest exchange platforms on daily transaction volume according to CoinMarketCap. It is one of the few Far East exchanges that operate globally and accept investors from US. Its services are offered in many different languages including English, Thai, Korean, Japanese, Chinese and Arabic languages. Platform provides much more other options giving it competitive advantage to exist in market. If you were looking for exchange platform read this short article till the end to find out if ZeroBank fits your criteria.
What can you trade on ZeroBank?
Despite being founded in 2017 it reached top 20 exchanges worldwide in daily transaction volumes. And one of the main reasons for its rapid growth is the feature giving users ability to trade coin to coin and coin to normal currency. Its web platform is rated very high in usability and design among both fresh comers and more experienced traders. Platform interface provides various technological advancements and trading tools. Platform supports more than 40 crypto coins but changes with adding or removing some coins. Also platform supports some rare and unique coins giving its users opportunity to earn more. ZB as a major player in cryptocurrency trade it allows its users to make transactions with other 4 major markets: Teher, ZB, Bitcoin and QCash.
What are the fees on ZeroBank?
Unlike many other exchange platforms ZeroBank does not take commission fee for depositing fund into users account. Their main revenue stream is from transaction charges where they take 0.2% for any token and if user has more than 100ZB coins on account trading ZB coin will be charged with 50% discount.Withdrawal fees may differ from coin to coin so users should have to check exact amount and percentage of withdrawal fee on platform, For now platform do not put any limit to transaction value so userc should trade as high as they can so it will be profitable with those rates.
ZeroBank security
Most of new exchange platform have had several security breaches in last years, however ZeroBank was not one them and did not had any security issues. Platform seems ready for any sort of infiltration, they took all necessary prevention steps. Offline cold wallets with multiple signature security levels are uset to store big junk of funds that can’t be reached remotely. Same preparations should be taken by each user too for their own sake, so when creating an account user should take a validation step to guaranty security. This step is done by submitting picture of government issued ID or any other official document like passport. That validation process may take period of few business days and it is normal in industry. Also it is recommended to users as always to fill 2 step verification with their phones although ZeroBank uses most advanced version of SSL technology for security.
Summary
Shortly; Even if ZeroBank is very young and new in the industry it found its audience and place in market and grew enormously in two years becoming one of the biggest and reliable players. Also since ZeroBank is located in China it accepts local currency Yuan which very rarely accepted fiat currency among exchanges. We hope that this ZeroBank evaluation was of usage. Feel free to to discuss topic in comments below or in the FAQ section for more insight before trading. Find out more about this cryptocurrency exchange and more here.
Bitcoin Penguin Review
Bitcoin Penguin is the world’s leading bitcoin online casino in the world. As the name suggests, you can play the wide array of games that the platform offers using your bitcoins.
New players are automatically given a 100% bonus up to 0.2 BTC deposit and thirty free spins. You will also get a 75% bonus when you make the second deposit of up to 0.2 BTC.
Instant Cashouts and Deposits
Delays can discourage you from playing your favorite casino game. Bitcoin Penguin is committed to avoiding that by providing instant cashouts and deposits. This means that, all deposits and withdraws are processed instantly, you will never have to wait for hours for the bitcoins to reflect on your account.
Two Cryptocurrencies Supported
Unlike other online casinos that only allow players to deposit money using one digital currency, Bitcoin Penguin allows clients to enjoy the games by depositing either Litecoin or Bitcoin. The games are also provably fair and random, as the gaming software cannot be manipulated.
Anonymous Registration
The registration process is fast and anonymous. No ID check is done to verify your account and you can start playing the over 200 HD casino games immediately after registering.
Bitcoin Penguin is definitely one of the best bitcoin online casinos you should consider trying out today. As mentioned earlier, there are more than 200 games and you can pay using Bitcoin or Litecoin.
Support team is always available to answer any questions that you might be having. Register today to get the best online bitcoin gaming experience.
What is an ICO?
In the blockchain world, we use a host of terminologies that can be really confusing to outsiders. It’s like a random person watching Bloomberg or trying to follow the happenings in Wall Street. That would probably not understand half the things being said because it’s usually full of economic jargon.
One of such “jargon” in the blockchain industry is ICO. ICO is short for Initial Coin Offering. It is what most cryptocurrency exchanges do when starting out. Let’s take Ethereum as an example: When Ethereum started, they sold a total of 3700 BTC within 12 hours as ICO. This happened in 2014. As at that time, this figure summed up to about $2 million.
Let’s break it down
To make this clearer, you can think of ICO as equity crowdfunding most startups resort to in their initial foray into the market. Equity crowdfunding is the practice of getting people to give capital to kickstart or support a venture, with the expectation of returns if the company or venture yields profit.
Now using the above example, we can say Initial Coin Offering is the process of selling tokens to people with the expectation of returns if the cryptocurrency exchange system yields profit. In essence, rather than give money or capital as is the case in crowdsourcing, you get the coin equivalent of your financial contribution, in the hope that the coin increases tremendously in value.
What are the odds?
To be honest, there is about a little less than 50% chance that the next ICO funded project will succeed. However, if we’re still being honest, the same statistic goes for other forms of startups. A business that started today is more likely to fail than succeed. Therefore, we would not be fair if we pin the likelihood of failure solely on startups funded by ICOs.
Ethereum, by the way, started as an ICO (they raised $18 million in 2014 by selling 50 million Ether tokens), as did Ripple, Stellar, and some other now-prominent cryptocurrency tokens.
What do you stand to gain?
If all goes well, an ICO investment is a win-win situation; both for the entrepreneur and the investor. The startup owner can retain full ownership of the business regardless of how much money is paid in exchange for the coins. Likewise, the investor will benefit immensely as the coin’s value increases.
Are there any risks?
Of course; same as any other investment opportunity, there are risks associated with ICOs. They greatest among the risks involved is the possibility that the coin could decrease in value. Another popular issue is that of credibility of the sellers or startup owners. Not to worry, governments are creating guidelines and regulations to solve the problem of credibility.
In conclusion, you should know that the risks involved in investing in an ICO are the same as investing in other forms of startup. However, the benefits are quite different. If you invest in a non-blockchain startup, whatever returns you will et is tied to how much profit the business owners declare. On the other hand, investing in an ICO holds possibilities of massive returns that are not limited by the startups profit margin. They are only determined by the coin’s value.
Interested in launching your own ICO? Read “Should You Launch An ICO?” to learn what’s involved.