What Is Bitfineon?
A subsidiary of the ALQO group, Bitfineon is a cryptocurrency trading platform that is based in Switzerland. Despite the publishing of the official website, most of the project is still in developmental stages. Initially, the project was meant to be established in Germany, but the difficulties in finding capable legal experts and tax consultants with knowledge of digital currencies made that impossible. This, coupled up with the need to stick to the schedule, eliminated the possibility of setting up shop in Germany.
Switzerland was chosen due to the favorable laws governing data privacy and client confidentiality in the country. Traditionally, Switzerland is renowned for its stringency data protection as well as financial secrecy, enabling Bitfineon to guarantee the safety of client’s information. For this reason, this platform is substantially safer as compared to its peers who operate in countries where secrecy is not held in high regard.
As mentioned earlier, the exchange is yet to go live. However, it is important to note that the platform will only support digital currency pairs at the time of its launch. Fiat currency support will be integrated on a later date that is yet to be announced. To get exclusive news of the exchange’s launch date, interested parties can subscribe to the mailing list on Bitfineon.com
Bitfineon Crypto & Fiat Trading Exchange Platform Features
The exchange will use cutting-edge infrastructure to ensure that traders enjoy a seamless and fast trading experience.
The platform will implement impenetrable a military-grade security mechanism that is further reinforced by state-of-the-art encryption algorithms.
User information will be stored in an encrypted server and will be under no circumstance being shared with third-parties.
The fees levied on trading and withdrawal transactions will be kept as low as possible. Moreover, trading on ALQO is free of charge.
Thanks to the advanced technological infrastructure, the platform will guarantee remarkable processing speeds.
Bitfineon ICO Details
As of now, the development team has not settled on the means through they will raise funds for the project. While an ICO seems like the most viable option, the recently imposed rules regarding token issuance have made it hard to organize such an event. Consequently, the team is reviewing this possibility, and there are no assurances that the outcome will be positive. Nonetheless, ALQO investors are assured of getting rewards from the program, regardless of the chosen fundraising method.
Bitfineon hopes that the final decision will come up with an appropriate marketing strategy that will play a vital role in propelling Bitfineon to become one of the world’s leading cryptocurrency exchanges.
Bitfineon Future Features
In the future, Bitfineon will add the following features:
- Direct trades – this will eliminate the conventional over-the-counter trades. As a result, fees will reduces and scamming will diminish. To access this feature, users on both ends will have to be registered on Bitfineon.com
- Auctions – users will have the ability to set up auctions for specific amounts of virtual currencies. Since the auctions will not have an API, they will not have any impact on market prices.