UpCoin is a new cryptocurrency exchange that intends to find its place in the market by offering quality services that will make its clients focus on trading without having to worry about any technicalities of the hassles of trading. It will be a crypto-to-crypto and crypto-to-fiat exchange as soon as all the preparations are done.
The company intends to create a service that will be fast and have servers in most of the countries in the world, secure by using the top technology to ensure that no coins will ever be stolen and also convenient with a simple interface so that even the people who are not necessarily experts in cryptocurrency trading will be able to use this company to get profit and start trading.
What Is UpCoin?
UpCoin is working as a crypto-to-crypto exchange since March, when the company left beta access and will start to work as a crypto-to-fiat exchange at the end of 2018. The company’s main focus will be speed, security, scalability, user friendly interface, professional support and reasonable fees.
The fees charged by the company will be between 0.1% and 0.2%. The company states that if you use the company’s UpCoin tokens, you will be able to get discounts of 50% on these fees.
The company will also have an API to ensure that other companies have access to its code to built third-party apps or to provide integration if they wish.
There is a team of 30 people behind UpCoin. These people are managers, software engineers, designers and investment professionals that have been working to create the company.
How To Use UpCoin?
At the moment of this report, the exchange was already 100% operational, so you can create your account whenever you want and start trading. At the moment, this exchange does not support fiat currency and you only need a valid email to register.
At the end of 2018, UpCoin is planning to let its customers use fiat currency, but that comes with some negative points like having to verify your ID. Accounts created after this phase has already started will require a valid email and that you use a Know Your Customer procedure to let the company whitelist you before you start.
These identification measures are important so the company stays legal in many countries and can serve its clients better and in more countries without risking to break the law.
The company will have features to automate your cryptocurrency trading, but most of the trading will stay in the power of the user. The features include “stop loss” and “take profit” triggers. The company can make more than 3 thousand orders per second at this moment and this number will increase in the near future.
At the moment, UpCoin’s main regions will be the United States, Europe and Asia. Other continents may be added in the future, but we still do not have any concise information about them.
If you are the creator of a certain cryptocurrency, you can contact the company via social media or email to let them know about your token. UpCoin is always looking for quality tokens and if yours is considered to be good, it can be added. The company reserves the right to delist any token at any time for insufficient volume, suspicious activities, breaking the rules or user complaints.
The company mentions the “UpCoin tokens” on its site, but it does not state any date for an Initial Coin Offering or anything of the sort. This leads us to believe that the company might be planning to have a sale soon or intending to sell the tokens on the exchange, but it is still too early to know more about this subject, so be sure to follow us for updates.
The UpCoin Verdict
This seems like a decent cryptocurrency exchange, nothing more, nothing less. While it does not look like something spectacular, you can hardly say that it does really look bad. UpCoin is another example of cryptocurrency exchanges that are simply “out there” and you can use them without doing damage to yourself, but you just have better options if you want to.