FCoin Token (FT): Transparent Crypto Asset Trading Exchange Platform?
What Is FCoin?
The FCoin Exchange is decentralized and fully transparent cryptocurrency exchange that lets you trade digital assets with security. The company shares 80% of its fees with the FT token holders, making it one platform that really connects with the community.
Why FCoin? The company believes that F represents both Finances and the Future and this company intends to be the future of finances in the blockchain market, so this is why the creators decided to pick this name.
This platform states that it is the “first fully transparent digital asset trading platform” in the market, but that is not exactly true. In fact, there are many of these companies in the market right now and this was not the first one. Should you trust FCoin if the presentation of the company starts with this lie? Read our review so you can discover that.
How FCoin Crypto Asset Trading Exchange Platform Works
This cryptocurrency exchange uses open and transparent technology so you can know that you are always safe. With speed and stability, along with a multi-dimensional safety system, the company aims to ensure that the users will trade without any kind of issue. The company stores most of its assets that are not being used in cold wallets so it cannot be hacked.
The whole ecosystem created by FCoin is powered by its FT tokens. The token owners form a community of investors make decisions about the platform and receive dividends for their efforts of keeping FCoin an organized place and validating transactions.
FCoin’s main idea is the creation of an autonomous network of people who are interested in profiting with the creation of a trading platform. That is why most of the token holders of the company are common people and not the owners of the company.
The first smart contract voting of the company will happen on July 2018 and the revenues will start to be distributed in August. Finally, a committee of community members will be chosen in April 2019.
FCoin FT Token ICO Details
This company has decided not to opt for an Initial Coin Offering. The solution that the FCoin has decided for was in giving a total of 51% of the tokens to the people who are using the company via community rewards. While 23% of the tokens stay on a fund and 5% were sold on a private sale, the company has used this way to build its community.
The decision was taken because FCoin did not want a few investors to buy most of the tokens and dominate their ecosystem. This way, the majority of the tokens will be divided with people who are using the company and who is really the community behind FCoin.
There is no sign that FCoin is any type of scam or have any malicious intent, so we are pretty sure that this company can be safe for you to use. The lie about being the first decentralized exchange might be just because of marketing reasons.
On the other hand, be aware that this company is a small exchange, so only use it if you are really interested in becoming a part of this community.