Hello everyone, I'm here with a review on yet again another ground-breaking blockchain project. Going through my previous posts, you would notice that I only make reviews about the best projects and KuBitX is one of those projects.
Cryptocurrencies have been in existence for a while and so also cryptocurrency exchange platforms. Most of us already know what cryptocurrency exchange platforms are but for the sake of those that do not know what cryptocurrency exchange platforms are; cryptocurrency exchange platforms are decentralized platforms that facilitate the trading of cryptocurrencies as well as the exchange of cryptocurrencies to Fiat currencies or cryptocurrencies to other cryptocurrencies. With this we should already know what cryptocurrency exchange platforms are.
Cryptocurrency exchange platforms are a huge plus to the crypto world but even at that, there are several issues plaguing the existing exchange platforms.
We have had some issues in the past as to cryptocurrencies suddenly rising in value with no logical or supporting reasons whatsoever and then after some time, the value crashes and does not even increase anymore, though some end up increasing but after so much time that most owners have almost forgotten about their existence. Now this can only be possible because these exchange platforms lack regulatory rules as to the way trades should operate beacause the act of pumping a cryptocurrency does not genarally favour all owners of that cryptocurrency, only a select few. Some cryptocurrency exchange platforms lack liquidity; sometimes trades take up so much time in being processed and we all know how volatile the crypto market is, the time a trade is taking to get completed is really crucial as the market volatility can mess with the initial expected value.
Some cryptocurrency exchange platforms make trading so much difficult for some traders, they charge high transaction and withdrawal fees. Imagine a trader making a trade and paying a ridiculously high fee for the transaction and now got a total of 0.05 ETH after the trade and then goes ahead to withdraw this ETH to be converted to Fiat and gets charged 0.01 ETH as withdrawal fees, that is really high (when ETH was $1000, then it means the withdrawal fee would have been a whole $10 out of the total $50), that is pretty high for most traders but what would these traders do as they still have to trade regardless so they are stuck with these uncomfortable situations and this should not be the case in an ideal cryptocurrency exchange platform.
The existing cryptocurrency exchange platforms are also so susceptible to hackers, we have had cryptocurrency exchange platforms being hacked several times resulting in traders losing a huge amount of money and then these exchange platforms would have poor customer service coupled with the security problem. All these issues with cryptocurrency exchange platforms also contribute to the lack of global adoption of cryptocurrencies as new people are reluctant and scared of getting into the crypto space and no one can actually blame them unless a change is effected.
There are so many problems with the current cryptocurrency exchange platforms and the team behind KuBitX are well aware of these problems and have come up with the perfect solution and that solution is "KuBitX".
The KuBitX is one of the most advanced cryptocurrency exchange platforms in existence and it is so because it effectively solves the problems plaguing other cryptocurrency exchange platforms. KuBitX aims at being the most diverse crypto marketplace for cryptocurrency traders and investors and this would be achieved by the trade engine that would be developed within the KuBitX platform, providing regular banking services and initiating an Ambassador program that would help with global adoption and the spread of awareness.
KuBitX Architecture.
The idea of starting an Ambassador program within the KuBitX Platform is to help the adoption of KuBitX and enable it to be done much faster and when this happens then the budget for marketing and advertising would be hugely reduced. The Ambassador program is really a good idea.
KuBitX Roadmap.
Q4 2017
-Project initiation.
-Project feasibility study.
-Benchmarking.
Q1-Q2 2018
-Project engagement.
-Team structuring.
-Legal processes for incorporation in Malta.
-Whitepaper creation, first draft.
-Angel/seed contribution engagament.
Q3 2018
-Project execution.
-Launch KuBitX channels Ambassadors.
-Prototype.
-Start Pre-public round of TGE.
-Exchange soft launch.
Q3-Q4 2018
-Project execution (contd)
-Phase 1: Financial services integration with KuBitX.
-End pre-public round.
-Exchange Go-Live.
-Public round of TGE.
-Global promotions.
Q1-Q4 2019/2020
-Project add-ons.
-KuBitChain.
-Phase 2: Financial services integration with KuBitX.
-Continuous improvement (Operations, project enhancements and community feedback for improvements).
KuBitX Token.
The token name is KuBitcoin (KBX) based on the ERC20 token standard with a total supply of 500,000,000 KBX from which 16% is allocated to public sales, 23% is allocated to the founders and development Team, 3% allocated to advisors and partners, 20% is allocated to KuBitX investment fund, 36% is allocated to private sales and 2% is allocated to Bounty.
The softcap is set at 10,000 ETH and hardcap set at 25,000 ETH.
The funds generated during the tokensale would be allocated as follows:
15% is allocated to technology, 15% is allocated to promotion, 15% is allocated to reserve, 30% is allocated to liquidity, 5% to partnerships, 7.5% to legal and 12.5% is allocated to operations.
Team.
Partners.
Useful Links.
Website: http://www.kubitx.io/
Whitepaper: https://kubitx.io/KuBitX_Whitepaper_v1.1_En.pdf
Twitter: https://twitter.com/kubitx
Facebook: https://www.facebook.com/kubitx/
Telegram: https://t.me/kubitx_official
Reddit: https://www.reddit.com/r/KubitX/
Ann Thread: https://bitcointalk.org/index.php?topic=4632164
Writer's Bitcointalk username: kitanodebunmi
Writer's Bitcointalk profile url: https://bitcointalk.org/index.php?action=profile;u=1298583