The market is filling up with more and more cryptocurrency trading platforms. Many of them are looking for a way to stand out among the crowd of competitors. Among them comes CoinZoom, an exchange with an idea.
CoinZoom – the beginnings
CoinZoom is one of the youngest projects on the market. Its launch took place on March 1, 2020. The team behind the exchange carries considerable experience in financial markets, on the basis of which it is able to provide top-level services, ensuring security and innovation. The exchange is a centralized platform based in Salt Lake City. It is registered with FinCen and provides cryptocurrency exchanges across all US states.
There are currently 28 coins available on the platform, including of course the most popular ones such as Bitcoin, Ether and Cardano. It is also not lagging behind its competitors. Through its partnership with Visa, CoinZoom provides its customers with cards that they can use to pay for their daily purchases. The offering includes several available payment cards that are accepted at 53 million merchants worldwide. This is an option that is becoming increasingly common, though not necessarily available from all entities.
What sets CoinZoom apart from other exchanges
The CoinZoom exchange has its own token called Zoom. It is the native currency of the ecosystem, based on the Ethereum blockchain. It was created based on the ERC-20 standard. Exchange tokens usually provide special opportunities. It is no different in this case as well. Zoom, in response to supporting the company’s growth, offers a 50% discount on trading fees, a 5% refund on purchases using the card, it also qualifies holders for future airdrops, and most interestingly, it allows you to get bonuses for staking cryptocurrencies. The said bonuses range from 0.25% to 0.75%. This is a unique way to encourage users of the exchange to save. In a way, it replicates the idea of bank savings accounts and at the same time increases the return for maintaining a staked network.
Furthermore, CoinZoom was created with both retail and institutional traders in mind. In keeping with this idea, CoinZoom operates its own liquidity pools, which enable it to provide better prices than those available on competitor platforms.
The difference between staking and providing liquidity is worth mentioning here. While both of these areas are strong pillars of CoinZoom, they are significantly different from each other. Staking is the support of the crypto network, by validating transactions and acquiring rewards through them in the form of staked coins. This very often requires a long-term freezing of funds. In turn, liquidity pools allow you to earn money by providing coins for example, for the purpose of lending and acquiring interest returns from this.
Both solutions are strong bargaining chips for CoinZoom in the fight for the largest possible piece of the crypto pie. The exchange is still relatively young, but it’s team’s experience in the traditional marketplace gives it a chance to break out above the standard. There are many indications that it will soon be the talk of the town.