INTRODUCTION
Carrying fiat currency and making transactions with it sometimes becomes cumbersome especially when it involves such a large amount of money. Also, the charges that are taxed on such transactions are quite high making businessmen and corporate institutions spend a lot on their transactions. This has been a great concern until cryptocurrencies came into existence as developed by the crypto enthusiasts who wishes to stay unknown but is popularly called Satoshi Nakamoto. He generated the first cryptocurrency called Bitcoin which is now widely known as the King of Cryptocurrencies. His vision behind the generating cryptocurrencies was to create a digital payment system which would allow people to make transactions in a peer-to-peer mode free from all these huge taxes that the central bank charges.
Many cryptocurrencies have been developed alongside Bitcoin such as Ethereum, Dash, Ripple, Litecoin, Stellar etc. Currently, most cryptopreneurs invest into cryptocurrencies as well as use it as a mode of payment on platforms that accept cryptocurrencies. The medium that enables users to trade and invest into cryptocurrencies is a decentralized exchange platform. There are several exchange platforms in the cryptospace and some of them are Bitfforex, Binance, Hotbit, Fork Delta, Idex, Ethfinex etc. These exchange platforms together with several others that was not mentioned have helped cryptopreneurs in their transactions involving digital currencies but these exchange platforms have some challenges that prevents the average crypto enthusiasts to have the best of trading activities. This piece of writing seeks to elaborate on some of the challenges that are common to existing exchange platforms and the solution that the Konios platform brings into the crpytospace in enhancing trading activities.
CHALLENGES THAT CRYPTO ENTHUSIAST FACES WITH EXISTING EXCHANGE PLATFORMS
Cumbersome Sign up Process
Signing up on an exchange platform should have been an easy and very simple but what do we see some exchange platforms have very extensive data collection system when it comes to signing up on their platforms. I get the concept of securing the funds of traders but let us not forget that anonymity is one of the features that is highly valued in the crypto community so sometimes it becomes so strange when most of these exchange platforms are requesting all these data from users. Some goes to the extent of engaging users on Know Your Customer process which even goes to the extent of requesting for utility bills and tax receipts. All these for what! Just an exchange sign-up and this makes signing up on these platforms becomes more of like a tedious task. Ask yourself how many cryptopreneurs would go through the hustle of registering on such platforms unless a token of theirs has only been listed on such a platform.
Inadequate Security
One thing that baffles my mind is that aside all these extensive data that are carried from users, some of these exchange platforms some of them gets hacked and users lose their funds which they have accumulated on these platforms. Cryptocurrencies are very volatile and hence their prices fluctuate most of the time. Crypto enthusiasts who are also involved in day trading keep most of their funds at exchange platforms just to buy cryptocurrencies at affordable prices when the price goes down or sell it when it goes up.
It is rather unfortunate that some exchange platforms get hacked and the people who lose much funds are those who are engaged in day trading as they are the ones that keep most of their funds at exchange sites. Not long ago Coinrail was hacked and it was reported that tokens and coins which accumulated to about $40,000,000 US was lost.
High Fees charged on Transactions
Exchange platforms needs funds to operate and therefore they use fees that they charge upon listing and other fees that they charge on trading activities as a primary source in the financing of its operations. The fees that some exchange platforms charge are very high these days and in case any cryptopreneur is making a transaction involving huge funds they end up losing a substantial amount of money in the form of fees being charged. Most traders actually feel that they are being cheated due to the exhorbitant fees that they charged anytime they conduct a transaction on these exchange platforms. I have personally have an experience at sites like Cryptobridge where even cancelling an order placed was charged of the specific being sold together with the charges that they charge when withdrawing funds from such exchange platforms.
THE SOLUTION KONIOS PLATFORM OFFERS TO THE CRYPTO COMMUNITY
The Konios team has observed all the challenges that the crypto community faces when conducting transactions at the various exchange platforms and have designed a decentralized exchange platform to serve cryptopreneurs with an exchange platform that is very secured. Konios will achieve this by putting the following strategies in place.
Charging Low Fees for Transactions
Konios saves crypto enthusiasts from the pain of paying high fees for transactions that they conduct on exchange platforms. The Konios platform would establish its own blockchain network on the exchange platform for transactions to be conducted on it hence fees that are going to be charged on transactions are going to be quite low and moderate compared to what other exchange platforms charge. With the Konios platform in place crypto enthusiasts and idealist can conduct their trading activities without any being worried about the fees that they are going to be charged on. The days of paying high fees for gas price on the Ethereum blockchain and other blockchain networks would soon be over in conducting transactions and this is all happing on the Konios Platform.
Highly Secured Platform
The Konios platform adopts the all the security features of a decentralized platform together with very few little security features that they have included. The Exchange platform of Konios is highly secured to prevent any unauthorized third-party access unto the platform. This would protect the funds of cryptopreneurs from hackers and other cyber fraudsters. The Konios exchange platform secures its transactions with an anonymous face-to-face transaction which would not review the personal data of both parties involved.
Simple User Interface
The crypto community is made up of both experienced and greeners but most of the times exchange platforms are made in a way that suit the knowledge level of the experienced ones. Konios however changes the situation by designing an exchange platform that has a very simple and basic interface with well-defined labels to guide the layman in crypto trading to conduct his transactions with ease. This would reduce the circumstances that usually crop up when people lose their funds at exchange sites as a result trading on an exchange sites that is very complex and difficult to understand.
In addition, the Konios team understand the importance of time in crypto trading and other activities and therefore has designed its start up process with the quickest sign up you can ever had. This is to ensure that crypto enthusiasts can start trading within the very shortest possible time.
The Konios Platform is fully packed project and therefore I entreat you to refer to the whitepaper for more information about this project.
TOKEN AND TOKEN SALES
ROADMAP
THE CONCEPT AS ENVISIONED IN 2017
IMPLEMENTING THE CONCEPT IN 2018
EXPANDING THE CONCEPT IN 2019
REALEASED OF LOCKED UP COINS OF TEAM
TEAM MEMBERS
This project is supported by a group of crypto enthusiasts who are well experienced in their various fields of discipline and with their knowledge in their various fields of discipline they will see to it that this project becomes a great success. Below are few of the team members, please refer to the website or whitepaper to get information about the entire team members.
Follow up on the contact lines below for quick updates and more information about this project:
Website: https://konios.com
Whitepaper: https://drive.google.com/file/d/1Nf6o1WJooXwv8KCe6vxxqoqmQFpIcMY1/view
Telegram: https://t.me/koniosofficial
Facebook: https://www.facebook.com/konios.social/
Twitter: https://twitter.com/KoniosOfficial
Medium: https://twitter.com/KoniosOfficial
Youtube: https://www.youtube.com/channel/UC59K4VVzTI86HWMdrXMZj9g
Discord: https://discordapp.com/invite/HvX5756
Bitcointalk thread: https://bitcointalk.org/index.php?topic=3128951
Authorship
Bitcointalk Username: Kelvinikke
My Bitcointalk Profile link is https://bitcointalk.org/index.php?action=profile;u=2087374