Hubtrex aims to be the world’s most trusted cryptocurrency marketplace. Find out everything you need to know about the platform today in our review.
What Is Hubtrex HUB?
Hubtrex, found online at Hubtrex.com, is a new trading platform announced in March 2018.
Like other exchanges, Hubtrex wants to make it easy for users to buy, sell, and trade fiat currencies and cryptocurrencies for products and services. It promises secure storage, easy liquidity, and fast trading across a “next-generation digital currency exchange.”
The ICO for HUB tokens is underway until May 5, 2018.
How Does Hubtrex Work?
Hubtrex is a cryptocurrency exchange, product marketplace, and booking platform rolled into one. Overall, the company emphasizes its value as an e-commerce platform where users can exchange goods and services for HUB tokens.
HUB tokens are the native currency for Hubtrex.
The entire ecosystem is called UHUB. That ecosystem consists of the following three core components:
- Hub Exchange
- Hub Connector
- Hub Marketplace
Users in the ecosystem can exchange goods and services using the Hub Exchange transaction portal. You can buy and sell HUB coin with users around the world. It’s a decentralized money exchange that emphasizes low fees and secure transfers.
UHUB will also have a survey system. Users can contribute to the UHUB ecosystem by completing surveys and evaluating individuals and businesses operating on the platform.
Why would a business join UHUB? Here’s how the whitepaper explains it:
“Businesses can also connect with one another on UHUB to develop relationships and partner up with other organizations. Helping to further efficiency and productivity in the global economy.”
That might be one of the vaguest sentences we’ve ever read in a whitepaper. Overall, the whitepaper doesn’t do a great job of explaining how the UHUB ecosystem offers value to customers or businesses worldwide.
All transactions on the UHUB ecosystem will be performed using smart contracts. The Hub Connector component will be in charge of smart contacts. UHUB will support two payment gateways, including HUB Pay and PayPal. With HUB Pay, all transactions are free. With PayPal, users will need to pay a 2% fee per transaction.
Ultimately, all three components of the UHUB ecosystem seem to do the same basic thing: they all facilitate the sale of products and services in exchange for HUB tokens. All three – including the Hub Exchange, Hub Connector, and Hub Marketplace – all cater to both businesses and consumers who want to sell products online.
Technically speaking, we know that Hubtrex is based on the Coco Framework from Microsoft, which offers token transfers up to 2,000 transactions per second. This also reduces the fee to just $0.0007 per transaction.
Hubtrex Products And Services
Hubtrex will offer three main products and services, including the Hub Exchange, Hub Connector, and Hub Marketplace. The whitepaper doesn’t do a great job of differentiating all three platforms. However, the Bitcoin.com forum post does a better job of explaining the differences between all three:
Hub Exchange: Exchange and store all popular digital currencies safely and easily. The Hub Wallet can store more than 100 different cryptocurrencies and takes just a few minutes to setup.
Hub Connector: The Hub Connector lets you “connect to the community” by purchasing tickets and vouchers, making hotel and restaurant reservations, and finding ATMs.
Hub Marketplace: The marketplace aims to make shopping easy with low transaction fees, high transparency, and a wide variety of products, including “everything from a needle to a train.”
Features of Hubtrex
Hubtrex advertises all of the following features:
- Easy peer-to-peer transactions
- Borderless payments with “foolproof security”
- Fraud protection with “no fear of loss”
- OTC stock trading
- Low fees
Hubtrex aims to offer all of the following benefits:
- Maximize cost savings by eliminating middlemen
- “Bring value of employment for many people” by essentially “democratizing” the e-commerce world (similar to how Uber democratized ride-sharing)
- Help businesses scale more efficiently
- Secure framework because “with blockchain technology, all users’ information is entirely secure”
- “Opportunities to grow for HUB holders”, because HUB token holders can share in the success of the platform
The Hubtrex Crowdsale
Hubtrex’s pre-ICO began on December 10, 2017. During the pre-ICO, HUB tokens were priced at a rate of 1 ETH = 4000 HUB. A new update on the upcoming crowdsale was posted on the official website on March 10. The token sale is continuing from March until May 5, 2018.
Hubtrex is also being generous with airdrops. You can get 100 HUB tokens just for signing up to the platform, for example. The platform, meanwhile, is expected to be released in Q3 2018.
Who’s Behind Hubtrex?
Hubtrex is made by a Hanoi, Vietnam-based company. The company is open and transparent about its address and contact information. However, there’s no team information posted on the official website or in the whitepaper.
Hubtrex HUB ICO Conclusion
Hubtrex is scheduled to launch before the end of this year. The company is preparing to launch a cryptocurrency exchange and a decentralized marketplace rolled into one. Using that marketplace, businesses and consumers can interact in a frictionless environment, enjoying low fees and fast transaction times.
Overall, the Hubtrex whitepaper and website don’t do a great job of explaining the value of the ecosystem – like why consumers would flock to the decentralized marketplace instead of one of the other myriad options. It might just be a poor English translation of the whitepaper, but it’s hard to understand the value being offered by Hubtrex.
You can decide for yourself if HUB tokens are worth an investment by visiting online today at Hubtrex.com.