As the cryptocurrencies is evolving and maturing, we are getting more and more exchanges where we can trade valuable coins. UpCoin is one of the newest exchanges to become available worldwide and it has some pretty amazing concepts and opportunities compared to its competition.
In today’s article, we’re going to take an in-depth look at UpCoin, the cryptocurrency exchange that is currently in BETA and is planned to start operations in March 2018. So let’s find out everything about UpCoin.com below!
What is UpCoin Exchange?
UpCoin is a cryptocurrency exchange that plans to allow purchasing and trading altcoins for fiat currency, as well various cryptocurrency pairs. The mission listed on their website is pretty ambitious: they plan to “become world’s #1 exchange and become the fastest, safest and most convenient for traders from all over the world .“
They claim to have surveyed a huge number of members in order to make sure that they are able to meet all the demands of customers who join this exchange and address all concerns they might have. As a result, the upcoming exchange promises to deliver some very important features, like:
1. Super fast transaction speed: they have servers all over the world, which means that the transactions will be almost instant. They claim to be able to process up to 5 million transactions per second, which is pretty impressive since this number is 10 times greater than what other exchanges are currently offering.
2. They also claim to be super safe. As an added security measure, they say that they will hold 97% of the funds in cold storage. They are also working with security experts and computer experts to test the security systems, offering bounties to those testing then in all areas.
3. They promise an interface that is extremely easy to use and friendly to beginners. As the world of cryptocurrency trading is still fairly new and many people have no experience in trading whatsoever, a clean, easy to understand interface is indeed key to success. And from the looks of it, they do offer that!
4. Tons of trading options and coin pairs. This means that you will no longer have to trade a currency for Bitcoin, for example, then buy another currency with the earned Bitcoin, which usually results in more taxes on your side.
UpCoin will launch with the top 100 coins from the beginning, with the goal of having 1,000 trading pairs to start with. Although this doesn’t really offer you the chance to trade any coin for any other coin, it still offers a lot more opportunities than other exchanges do. But we still have to see the actual rates when they launch. In theory, though, this sounds really good!
5. As a bonus, they are also claiming to offer the chance to buy or sell tokens “for the most profitable ICOs”. We’re not really sure what those ICOs are, but we’ll soon find out. The option to instantly be able to buy tokens from ICOs that you not just trust, but are also backed up by experts is really outstanding.
6. Paypal intergration?
They seem to have worked out some sort of a PayPal integration, judging from a screenshot they have on their home page:
Buying cryptocurrencies using PayPal – and withdrawing funds to PayPal is almost impossible anywhere else. So if they really have offer this option, I am sure that everybody will be extremely happy and this thing could really give them the push required to become one of the best exchanges in the world, as long as they are secure.
At the moment, the company claims to have over 600,000 users registered, which is extremely impressive. The platform itself is going to launch in BETA stage in a few days (in February 2018), with the full release being expected for March 2018.
If everything goes according to their plans, this will indeed be one of the best exchanges out there for trading cryptocurrencies and, in the end, making money.
Of course, since the platform itself hasn’t been launched at the moment of writing this article, it’s difficult to say how UpCoin will actually fare as an exchange. But with a strong team behind them and some really solid features, things are looking great and I see no reason why you shouldn’t sign up for UpCoin and give it a try. I did so!