What Is CoinANX?
Coinanx is a cryptocurrency exchange in which you can buy, sell, deposit and withdraw a number of different coins, being able to pay them with many different fiat currencies. Today, this exchange will be our subject.
How Does CoinANX Fiat-Friendly Crypto Exchange Work?
The company aims to offer direct and easy payments for people all over the world. This means that it has to offer a good service beyond borders so people will have access to its services and its platform anywhere.
While this seems simple, sometimes exchanges only accept some types of currency like EUR and USD and that turns out to be a problem for the people who live in countries that do not use these fiat currencies but want to use the platform. Because of this, Coinanx tries to accept all the different types of fiat currencies from all over the world.
The way that the company developed to solve the problem is that you can buy ANX tokens with many different currencies but this is the only token that you will be able to buy with fiat currency. To buy other tokens like Ethereum and Bitcoin, you will have to buy ANX tokens first, which will make their market more liquid.
Many small exchanges struggle to have the necessary liquidity because there will not be many traders around. By using this strategy with the ANX tokens, the company solves this problem. At the moment, the platform will support Bitcoin, Dash, Ripple, Litecoin, Ethereum and some other cryptocurrencies but still not dozens of them, only the most prominent ones.
CoinANX ANX Tokens ICO Details
The ANX tokens will be the base of the exchange because it will be them the bridge that will close the gap between fiat currencies and buying cryptos. Also, the ANX tokens will enable the users to withdraw using debit cards to get the money as fiat currencies.
Coinanx will be selling ANX tokens during the Initial Coin Offering (ICO). It will accept ETH, BTX and XRP and each ANX token will be sold by $0.02 USD. The soft cap will be $1 million USD and the hard cap will be $3.75 million USD.
Most of the tokens will stay with the company and only 25% will be sold in the ICO, so the company will be able to have plenty of liquidity. 6.25% will be given via airdrops and 6.25% of them via bounties.
The CoinANX Team
The founders of this company are Antony Joseph Crossman and Sucharita Duta. Both of them have the position of CEO in the company. Felix Kingsly acts in business development and Salman Fariz as analyst.
The advisors are Sumit Biswas, Rathish M., Zahir Hushin, Gaurav Saxena and Felix Liu.
It seems certain that Coinanx is a small exchange. The company does acknowledge this while presenting the arguments for you to buy its tokens. Because of this, you have to be aware that investing in this company might be a slow way to make money.
Your main reason for investing in Coinanx should probably because of the features of the company, not necessarily as a potential investment to profit a lot.