Let’s take a look at a brand new ERC20 cryptocurrency project Coinanx.
The team from Coinanx has an ambitious plan. They’re looking to create a new type of cryptocurrency exchange that simplifies buying, selling, and transferring assets and tokens. This vision includes streamlining the process and making it more straightforward.
There’s little doubt that people are looking for better coin exchange. A brief search for customer service and general complaints from users can turn up a large volume of unhappiness. With the number of crypto investors likely to explode in coming years, the project that gets it right can earn enormous rewards. Coinanx is looking to acquire $3.75 million in fresh capital from ICO investors during their pre-sale.
The essential component that will allow Coinanx to facilitate real-world trading is the creation of the token ANX. Traders on their exchange would be able to convert any trading pair into ANX and then using the built-in fiat gateway, would switch back to their preferred paper currency. The problem, as they outline in their White Paper, for all exchanges is the inability for end users, especially new ones, to quickly deposit fiat currency into their trading accounts, Further, there are many extreme fluctuations with conversions that cause misunderstanding and loss of money. ANX would help fix those issues, making use of the Coinanx exchange desirable for the mass market investor who is currently not trading cryptocurrency.
Coinanx Will Use Automation to Drive Trading Costs Down
Coinanx will lean heavily on automation to achieve their goals. They feel that this strategy will reduce complexity for users while driving the cost of trading down significantly. The project ultimately will offer both a wallet and an exchange. The multicurrency wallet will allow for fiat conversions, and the exchange is where the actual heavy lifting of trading will take place. For end users, it will be a convenient experience to add money and to make trades. The wallet will help bridge the gap between crypto and fiat intuitively.
In July of this year, Coinanx will enable INR/AUD deposits which will allow for deposits from people in India and Australia. The Coinanx ICO is May 7, 2018. Make sure to check with all rules and regulations in your area before investing in an ICO. Some jurisdictions have restrictions that may prohibit your participation.
Consult the Coinanx White Paper for a full description of the project and ICO.
Coinanx is going after a large potential consumer segment, and this ICO is a way to give them adequate capital to build out their product’s framework. Exchanges will continue to play a dynamic role in the advancement of cryptocurrency. This new exchange will begin with innovation and attempt to bring in even a more substantial influx of customers by making fiat conversions simple.