Converting fiat to crypto is a problem faced by many crypto enthusiasts. Currently, there is a lack of a sustainable and efficient process to convert fiat to crypto tokens. Users have to go through different services, each of which takes time to process transactions and charge exorbitant fees.
This is simply not good enough for a professional trader, and delays in processing transactions can result in the loss of good trading opportunities.
Such a dismal condition is understandable because the crypto market is still in its nascent stage and lacks platforms that provide complete support. Crypto platforms have barely existed for a decade, unlike traditional stock and commodities trading platforms that have existed for many more years. Such limitations are bound to be present in a new market.
However, LinkCoin aims to resolve this situation by introducing their efficient solution for fiat to crypto conversion. Using LinkCoin, traders will easily be able to convert their fiat currency into crypto tokens, in a matter of hours. Such a system will be an improvement over the current systems which can take days in some cases.
LinkCoin aims to be the first over the counter platform that ensures the protection of both involved parties and allows real-time exchange of fiat and crypto assets. This process ensures that the investment of the involved parties is protected and is exchanged efficiently.
Fiat to Crypto
The platform connects the seller of the crypto tokens with a fiat buyer. Once the seller has confirmed that they have the required number of crypto tokens, the exchange locks the tokens until the transaction is completed (either passes or fails). Then the buyer has to pay for the number of tokens they want to purchase.
Once payment is completed, the exchange informs the seller to verify that they have received the payment and if they successfully verify the crypto tokens are transferred into the wallet of the crypto buyer.
This system ensures the completion of the exchange of assets. Thus, it creates the first ever, effective fiat to crypto conversion system. It will make it easier for traders to transform their fiat assets into crypto and then use them to trade or buy other assets.
LinkCoin Token (LKN)
The underlying token that will power the platform is the LinkCoin Token (LKN), which is an Ethereum based ERC20 compliant token. A total of 500 million LKN will be issued, and traders will be able to use the token to pay transaction fees. Holders of the LKN token will be offered a 50% discount on the transaction fee. This will increase the value of the LKN token and make it more desirable for traders.
Another specialty of the LinkCoin exchange is that it is the strategic partner of the crypto exchange, Bibox.com. LinkCoin shares user accounts with Bibox, which means users of LinkCoin can easily use Bibox with the same account. LinkCoin is the C2C platform of Bibox, and there is a strong strategic partnership between the two exchanges. LinkCoin is looking to follow in the footsteps of what Bibox has done. LKN is also listed on the Bibox exchange platform.
Moreover, the exchange will use 50% of the seasonal profits of the platform to buy back LKN tokens to contribute to the protection fund. The benefit of holding the LKN token is that users will get the 50% discount in transaction fees, which will help the traders cut costs.
Features of the Platform
As already mentioned, the platform provides a 50% discount on the transaction fees. Moreover, the advertisement fee for posting an ad is zero. The exchange just charges a 0.6% service fee on every transaction made. Users that post an advertisement will still need to pay the service fee. However, a 0.6% service fee combined with a 50% discount means that LKN holders will only have to pay a 0.3% service fee.
The LinkCoin exchange uses the micro-service system structure and multi-signature technology, to ensure that the platform is safe for its users. The private keys of its users are specially protected by keeping them in cold storage and storing multiple copies in different places, to ensure they don’t get lost.
Liquidity is most important for any exchange and for timely processing of transactions. The LinkCoin platform already has more than 30,000 users, and the numbers are growing. This ensures frictionless trades and better performance. Lastly, the exchange supports Web, iOS, and Android systems, which makes the platform very accessible and easy to use.
For more info
To read more about LinkCoin, you can access the following links:
Website | Telegram
The post LinkCoin Exchange: Easily Convert Fiat to Crypto appeared first on CryptoPotato.