CoVEX Platform will consist of 7 components, we will have the Exchange Platform, a highly-secure user-friendly with reduced downtimes cryptocurrency trading platform, the Social Trading Platform, which will provide a new way of trading for beginners and also a new way of earning for experienced traders, we will also have Margin Trading/Lending Services, a service normally used by the more experienced traders, where you use borrowed money supported by collateral funds to open long and short positions.
Our Exchange Platform will be able to provide lower and less downtimes, which have led to significant losses to exchange users in the past, thanks to how volatile the cryptocurrency market is. We will try to provide the highest security we can offer, this is one of the biggest points with the recent hacks and theft of funds in several well known exchanges. A easy to use user interface will also be integrated where there will be displayed the type of cryptocurrency you are currently trading, the daily volume, and we will also have Open Chatting Service and Personal Portfolio Analysis.
With the Social Trading Platform, we will provide an easy way for beginners into trading to start learning and earning from the knowledge of the more experienced traders while also allowing those to earn from it. You will be able to follow other users of our platform and select them as your trading leader, selecting an amount you which to be allocated for that specific leader’s portfolio.
In our Margin Trading/Lending system, its pretty straightforward, users of the platform will be able to borrow or lend money for others to trade with it, while using collateral funds, in every trade the traders will be able to close positions, the lender receives interest from the margin trader in order to incentivize the lending of funds, while CoVEX also retains a percentage of the accrued interest of the loan. The amount of money you are able to lend/borrow will be calculated based on your coin share and portfolio.
We also come with a Payment Gateway and Prepaid Card Services, which will allow mass adoption from merchants and easy ways for you to use your cryptocurrency, without the need for trust in a 3rd party thanks to the use of blockchain in creating a decentralized trust and reputation system for the Payment Gateway, and a real-time cross-chain payment system with the Prepaid Card available to be used just like any other regular credit cards. We will also have a Peer-2-Peer Loan Service where you will be able to lend or borrow money using a decentralized trustless system.
CoVEX will also provide a platform to help startups succeed in the crypto space with mentoring and training, in a certain way to encourage and support newly formed companies to grow in this big space.