INTRODUCTION
There has been a very high volume of cryptocurrency users since the emergence of Bitcoin in the year 2009 with its assets holders desperately in need of a transparent, secure and modern digital exchange for trading of their assets. Although a considerable number of exchange have flooded the crypto market ecosystem which have brought about competition among platforms resulting in an effective trading environment. Yet there are lot of loopholes that is still affecting the system and making many skeptical about being of the crypto ecosystem which includes; (1) lack of regulation which result in users forced to trade without being sure of the transaction, when a system is not regulated the professionalism level becomes very low and they are little or no procedures set in place for the protection of its users. (2) Poor liquidity which is as a result of inadequacy in updating buying and selling orders continuously for a specific financial instrument that has led to users not willing to participate in trading on the exchange, bringing about poor liquidity for the system. (3) FIAT funding, for new comers into the crypto market it is a huge challenge because most popular exchanges do not allow users to buy cryptocurrency with FIAT money. Even though they offer only a limited selection of available coins those exchanges still do not accept FIAT currency for coin purchase, making it difficult for users on the system. (4) Customer support and quality of service, most exchanges today lack proper customer service system with little or no customer support and helplines these have increased the frustration of users. They have also complained about the complexity of the platforms, lengthy verification of account, sites accessible only in English, lengthy time for withdrawal and deposit with customer service very difficult to reach. (5) Online security, this is the most important concern for crypto assets holders as lots of data and money is being lost daily on trading platforms. Also hacking and other cyber-attacks remain at the forefront of concerns for most crypto exchanges. All of these problems are what Markos A. Kashiouris who is the founder and chairman of IRONX together with his team has found and is working hard in providing a permanent solution.
IRONX SOLUTION
To bridge the gap between crypto trading and the traditional online trading the IronFX group is providing a regulated, service-focused, high standards and strict procedures exchange that supports funding via both FIAT and Crypto. Already as we are speaking now IronFX has a large customer base numbering more than 1.2 million retail online trading accounts and a strong financial base, but that is not all they are relying on to bring about this most wanted change in the world of crypto exchange, they also an excellent operational track record, access to top-tier financial institutions and deep liquidity, including already amassed significant group assets and multi-regulatory licensing. Another interesting part is the partnership of IronFX and EmurgoHK who is a global leader in Blockchain technology, this partnership have led to the establishment of the IronX Exchange.
With a safe and easy transition from the mass retail market into the crypto market IronX is providing a higher efficiency for new users into the crypto trading ecosystem with a lower cost and all basic right. Also the quality customer service provided by IronX is of no match as it is leveraging on its own existing regulatory and operational practices, processes, solutions and real company functions which includes back-office, risk management, account management and payment solutions including banking solutions. All of these will definitely increase the awareness and acceptance of cryptocurrencies and crypto trading, resulting in greater use of infrastructure previously unavailable to early users of cryptocurrencies.
The Ecosystem of IronX Exchange
The IronX ecosystem will blend both traders and users through a specialized team of customer service representatives. Together with its regular platform an advanced site will be designed to help users interact with each other making for an easy operational system of exchange for both old and new traders.There is a multilingual support in over 30 languages with hotline support and live chat options, also user friendly and straightforward trading software.
The licensing of IronX is also worth noting since it will leverage the already existing IronFX group compliance practice and experience to ensure smooth operation. It is presently seeking the acquisition of a Payment Institution (PI) Licensing, and the DLT licensing. These will give customers a safe, stable and systemized network for trading activities, to ensure transparency there will be a continuous inspection and maintenance of the security system.
There will also be a minimum charge for trading, withdrawals and listing on the IronX platform, the trading fee on the IronX Exchange platform is 0.2% and a small amount for withdrawals. Also for ICO companies to list their coin on the IronX exchange they have to pay an annual fee and a service fee in IRX if they qualify after thorough scrutiny to be listed. There will also be high discounts for IRX token holders when they fund their accounts with IRX tokens.
TOKEN SALES AND DISTRIBUTION
The IRX is the main exchange coin on the platform, though users have the right to choose between paying with the currency of the transaction they are using or paying with the IRX tokens. If they choose to pay with the IRX token they will receive a huge discount of about 50% on their first year of trading and 30% on the next year and 10% on the subsequent years to come.
Out of the 150 million tokens made available, during the private sale that ran from June 20th to August 30th 2018 IronX successfully sold 67,691,787 tokens at a price of $0.33 (USD) per token, yielding a value of $22,338,290 (USD). And from November 1st to 15th December 2018 there are 82,308,213 tokens up for sale to the public for a price of $0.42 per token, which can be bought with BTC, ETH, and Wire. Bonus tokens will be given to contributors who purchase with more than $50,000 to $1 million from 5% to 30% as the case may be. Tokens will be properly distributed and the proceeds put to good use as 40% of the tokens will be for sale and early contributors, 17% will go to the company and 15% for the management team, 10% will go to advisors and partners and another 10% will be for liquidity and finally the 8% left will be for community. The proceeds thereof will be used efficiently as 40% of it will be for system developments and 35% for operational use, 15% will be used for marketing purposes and finally the 10% left will be used for legal and Cap requirements.
CONCLUSION
With the ups and downs in most trading platforms resulting in lack of trust from most crypto investors IronX exchange platform is bringing a solution since it is based on AlphaPoint’s technology with a high grade security and data protection, monitoring and alert system with simple management and a dynamic database. The benefits for investors are so numerous; just to mention a few there is roundthe clock trading support system with access to multiple different cryptocurrencies and a matching engine of over 1 million transaction per second. Please I employ you to carefully read this article and see reasons you should invest with IronX with lots of discounts for its token holders and benefit firsthand as you are sure security.
For more information visit:
Website: https://ironx.io/
Whitepaper: https://ironx.io/IronX_WP_Version_1.2.pdf
Twitter: https://twitter.com/IronXExchange
Facebook: https://www.facebook.com/IronX-165411397629420/
Telegram: https://t.me/IronX_Official
Reddit: https://www.reddit.com/r/IronX_Exchange/
Published by: Cryptowin1
Bitcointalk profile link: https://bitcointalk.org/index.php?action=profile;u=2068163
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