Cointrade aims to bring crypto trading to the people using a global cryptocurrency trading platform. Find out how it works today in our review.
What Is Cointrade?
Cointrade, found online at Cointrade.es, is a secure cryptocurrency trading platform that aims to “bring crypto trading to the people.”
The exchange is headquartered in Spain.
When launched, the Cointrade exchange will use CTT tokens as a utility token. CTT tokens go on sale during a pre-ICO and ICO from April to July 2018. However, the main Cointrade exchange isn’t expected to launch until the end of 2019 (a beta version of the platform is scheduled to launch in Q1 2019).
How Does Cointrade Work?
Obviously, there are hundreds of cryptocurrency exchanges available today. Each one claims to offer secure trading, an easy UI, and strong liquidity. What makes Cointrade different? How does the company plan to differentiate itself from other exchanges?
The company specifically addresses this question on its official website. They claim the unique selling feature of their exchange will be its ability to handle large trading volumes.
Today, Cointrade claims, many exchanges suffer downtime issues because they cannot handle large trading volumes. These problems will only increase as demand in cryptocurrencies continues to grow.
Cointrade was born with the idea of not only satisfying a market like the current one, but also satisfying a much larger market that will emerge over the coming years: “The high efficiency of Cointrade, together with its easy-to-use interface and fast customer service will make Cointrade the leading exchange for new and experienced users alike.”
Like most exchanges, Cointrade will also emphasize security. The company claims their exchange “will be impenetrable for hackers” and that “even if it were compromised, the information of our users would never end up in their [the hackers] hands.”
Finally, Cointrade will also be available in a wide variety of languages, including English, Spanish, Portuguese, Italian, German, French, Russian, Greek, Polish, Mandarin Chinese, Japanese, Korean, Hindi, Arabic, and Turkish.
As mentioned above, Cointrade does not appear to have begun developing the platform. The platform isn’t expected to launch until the end of 2019. It’s easy to claim that your exchange will be ultra secure and will support high volumes of users – but it’s harder to actually create that exchange. We’ll see if Cointrade can pull off its ambitious goals when the exchange eventually launches.
What Problems Does Cointrade Seek To Solve?
Cointrade believes today’s exchanges suffer from a number of serious problems, including all of the following:
- High transaction fees
- Long and difficult verification processes
- Reliance on third parties, including customers who are forced to trust the security of an exchange when they deposit their funds
- Limited numbers of trading pairs
To be clear, Cointrade has not yet listed its trading fee structure. However, they claim their structure will end up costing “50% less than what is currently offered” by other exchanges. Typically, exchanges charge fees of 0.2 to 0.4%.
How Do CTT Tokens Work?
CTT tokens will be a crucial part of the Cointrade ecosystem. Anyone who owns CTTs can use them to pay platform commissions (i.e. trading fees) and earn an 80% discount.
Furthermore, anybody with a minimum of 500 CTTs in their account will be considered a “premium” user. Premium users will enjoy benefits like:
- Higher daily and monthly deposit and withdrawal limits
- Preferential access to the beta and certain other services
- 10% discount on all commissions (on top of the 80% discount when using CTT as a payment method)
- Preferential access to the service at times of high user traffic (Cointrade claims this is “unlikely to be used, as the platform is prepared to support very high volumes”)
The Cointrade ICO
Tokens are being sold at a pre-ICO price of $0.20. Cointrade has set a hard cap of $25 million for the pre-ICO. There will not be a soft cap for the pre-ICO.
The pre-ICO for CTT tokens will begin in April 2018.
A total supply of 236,110,000 CTT tokens will be issued. Of that total, 23.61 million will be reserved for team members and founders, 25 million will be sold during the pre-ICO, and 187.5 million will be sold during the main ICO. In other words, of the total supply of tokens, 79% are being distributed during the ICO. The remaining tokens are reserved for the team (10%) and the pre-ICO (11%).
For the main ICO, the price of each CTT token will be set at $0.24.
Who’s Behind Cointrade?
Cointrade was founded in September 2017. The company plans to launch the beta version of its platform in Q1 2019.
Cointrade is led by CEO and founder John Milla Cano along with Billy Zambrano (Coordinator), Eduardo Bazan (Head of Finance), and Anibal Diaz (Senior Developer).
CoinTrade ICO (CTT Token) Conclusion
Cointrade is a new Spain-based cryptocurrency exchange that recently appeared online. The exchange promises to offer low fees, easy verification, high transactional capacity, and rock-solid security. Overall, there’s limited information about the platform available online – which isn’t surprising because the platform isn’t expected to launch to the public until the end of 2019. A beta version of Cointrade, meanwhile, is scheduled to launch in early 2019.
To learn more about Cointrade and how it works, visit online today at Cointrade.es. A token sale for Cointrade’s CTT tokens – which can be used to pay fees or buy membership on the platform – is taking place from April to July 2018.