Cobinhood ICO Review

[bitcoininvestor]

There's only a little over 2 days to get involved in the Cobinhood ICO. Their website is already displaying impressive sales of over 41,000 ETH.

What is Cobinhood?
https://cobinhood.com
They're planning on launching a brand new decentralized exchange for cryptocurrency. There's been a number of crypto exchange ICOs recently but what sets this platform apart from the rest is that they plan to charge 0% fees!
The new platform will also be offering margin trading and a innovative ICO underwriting service.

The current market

There's many different cryptocurrency exchanges available to users these days but only a few have a large volume and a large variety of coins listed. The main problem with these exchanges is that their fees are too high with most charging around 0.2%-0.3% on every single trade. This can make a huge dent in a traders profit and often makes certain trades not worth taking the risk.
They also have a variety of further problems:

[*] Difficult to real time trade: Many of the exchanges are slow and suffer issues such as non-real-time transaction confirmation and delayed order book updates. This makes it impossible for traders to trade in real time.

[*] Lack of trust: Some of the biggest exchanges in the industry have been hacked in the past with Mt.Gox the most well known, in 2014 the platform was hacked and 650k Bitcoin was stolen. Not only did this have a huge effect on the users who lost their funds, it also crashed the entire bitcoin market. The lack of trust also extends to platforms shutting down temporarily without warning. Platforms such as Kraken and Coinbase, some of the most well known exchanges, have also faced major issues which caused the Bitcoin price to plummet.

[*] Limited fiat options: Many exchanges only accept deposits in the most popular fiat currencies such as dollars or Euros, this causes issues for many users around the world wanting to use the website. Some exchanges also don't accept users in certain countries. I myself am an Expat in the Philippines and recently found out that Coinbase doesn't support purchases made from the Philippines.

[*] Poor customer support: Users can often be left waiting days or even weeks for a reply to issues they face on the platform, this has been caused by the popularity of cryptocurrency in recent times but still there shouldn't be any excuse for such large companies to take so long to respond to support requests. This issue also extends to users often having to wait a long time for the KYC process to be complete.

Key Cobinhood Features

Along with the obvious advantages of the new platform being decentralized and charging 0% fees Cobinhood also states in their whitepaper that they're planning a number of other advantages for users, just some of them are as follows:

[*] 100% Reserve guarantee: Cobinhood promises to disclose all of their online and offline wallet addresses for public audit.

[*] Security: The platform states that they'll store 98% of funds in offline wallets, making them completely secure. The remaining 2% will be fully insured.

[*] More fiat options: Users will be able to deposit on to the platform with a variety of different currencies.

[*] High quality customer support: The new platform will have a team working 24/7 to respond to any customer queries. They also state that the KYC verification will be completed within 24 hours.


How will Cobinhood make money?

They plan to launch an ICO underwriting service to help the most promising new ICOs. They state that they'll only accept the very best ICOs who have passed a stringent due diligence process.
They'll then offer help to the new platforms with issues such as legal compliance and smart contract code review.
They're also planning an 'ICO Spark Program' with the goal being to help companies or individuals integrate their products or services with blockchain technology.
Once the ICO has been completed the new tokens will then be listed on the Cobinhood exchange, this in itself will offer the new platforms a great advantage as currently the major exchange platforms won't normally accept new tokens unless a large fee is paid.
In return for the services that they plan to offer, Cobinhood will receive a pre determined amount of tokens from the new ICO which will provide them with a solid income.
They're also going to offer margin trading by offering users the chance to offer short term loans and then Cobinhood will receive a portion of the profit.

Conclusion

The new platform has already raised a huge sum of money during their ICO. The zero fee trading will be sure to attract a lot of new users to the platform. Once the platform has a large amount of users then I'm sure they'll be able to attract a variety of startups for their underwriting service which should provide them with a high revenue. The token price should also increase as activity on the platform increases.
The security features behind the platform also look great, I don't know of any other exchanges who guarantee the entire amount of funds on the platform is completely safe with offline wallets and insurance.

Website: https://cobinhood.com
Whitepaper: https://cobinhood.com/assets/whitepaper ... per_en.pdf
Bitcointalk profile: https://bitcointalk.org/index.php?actio ... ;u=1153986