New Coin Exchange; Need Beta Testers!!

Discussion in 'Off Topic' started by Murderer, Feb 12, 2018.

  1. Murderer

    Murderer Grand Admiral
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    Hey fellow test members;

    I don't know if we have any crypto coin enthusiasts in the org; but there is a new exchange opening in the US that will allow traders to buy alt coin through fiat. They are also launching their own coin IOX for Fees, Voting Power, Referrals and Coin Integration payout.

    They are also giving a bonus 500 IOX to anyone who signs up prior to the beta. No purchase or business is necessary in order to do this.

    Sign up here:

    https://coinstocks.io?referral=OQDB

    Info about the beta:

    https://coinstocks.io/bounties

    Check out our demo video at


    View: https://www.youtube.com/watch?v=NCOL7_tu5L8
     
  2. Sirus7264

    Sirus7264 Admiral
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    Interesting i'll have to check this out i don't enjoy using binance to much and having the ability to use FIAT is much easier to deal with. One thing i want to know is what security do they offer and how much reputation do they have as a company?(new company all together just for this or do they have some type of history?) I don't want to join an exchange just to get robbed by hackers 1 year later.
     
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  3. Murderer

    Murderer Grand Admiral
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    They are a new company, using a FDIC insured bank for deposits. They have a Telegram channel and are pretty open about anything you want to know. I feel good that they aren't hiding behind unusual names and have dev linkedin profiles.

    http://search.sunbiz.org/Inquiry/CorporationSearch/SearchResultDetail?inquirytype=EntityName&directionType=Initial&searchNameOrder=COINSTOCKS%20L180000211670&aggregateId=flal-l18000021167-b7492e24-ecd6-4484-8737-86045dfa949d&searchTerm=coinstocks%20llc&listNameOrder=COINSTOCKS%20L180000211670
     
  4. Sirus7264

    Sirus7264 Admiral
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    I'll have to do some research on it when i get a chance later atm i'm only using Coinbase, GDAX, and binance.
     
  5. NaffNaffBobFace

    NaffNaffBobFace Grand Admiral
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    Mmmm, Fiat. Thats a prestige marque alright... Don't they own Farrari?
     
    #5 NaffNaffBobFace, Feb 13, 2018
    Last edited: Feb 13, 2018
  6. Montoya

    Montoya Administrator
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    Im not sure how these guys plan on getting into the fiat for bitcoin exchange in the US.

    There is a ton of regulatory hurdles, one of which being that they have to be registered as a money transmitter like coinbase has:

    https://www.coinbase.com/legal/licenses

    These licenses are extremely expensive and it takes a lot of legal expenses to get to that point.

    Can you show me the licenses that these guys have secured?

    The answer is probably none at this time, which does not mean it might not happen, but if it is going to happen, they better start explaining how they are approaching the process and how its being funded so far.

    You can't simply decide you want to be a crypto exchange in the States and start peddling yourself at such.

    You better have tens of millions of dollars from investors ready to deploy to start working through the piles of legal regulations.

    Like anything crypto related, I advise caution.
     
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  7. marctek

    marctek Admiral
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    Yep, there are lots of hoops to jump through for a company to be able to legally handle financial transactions in general in the US.

    In a past life, I worked for a subsidiary of Visa and also for another company that was working on software to process credit card transactions. I didn't have to deal directly with the regulatory side at all but I got to watch those who did get more grey hair by the day.
     
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