Traders can convert cryptocurrencies to U.S. dollars on COBINHOOD starting July 20th
NEW YORK, July 12, 2018 /PRNewswire/ -- Today, COBINHOOD, the zero-fee cryptocurrency exchange endorsed by U.S. football player Richard Sherman, announced the launch of fiat trading, which means that legal tender can be converted through COBINHOOD into cryptocurrencies, and vice versa; U.S. dollar deposits will be accepted from July 20th. COBINHOOD's fiat trading, one of a series of major announcements from the platform, arrives at an opportune time for value investors, as polls show that the majority of market participants expect prices to rise in 2019 after a period of consolidation.
For example, only last month, COBINHOOD announced the creation of the DEXON Foundation, which was created to support the DEXON blockchain technology, a "blocklattice" on which DApps could be built far easier than previous decentralized networks. While COBINHOOD is a separate, commercial entity, it is also the exclusive ICO services partner of the DEXON Foundation. With fiat trading now arriving to COBINHOOD, investors can buy and sell tokens for Bitcoin, Ethereum, and Tether, in addition to a multitude of other options on the COBINHOOD platform in the future, including DEXON.
"In several instances, the market is not reflecting tremendous progress being made at cryptocurrencies worldwide," states Popo Chen, founder of COBINHOOD. "Traders know there are opportunities abound for value, so it's a very synergistic time to debut fiat trading on the COBINHOOD platform. There's no doubt in my mind that many value investors were waiting on the sidelines until prices rationalized, and so the near term promises to be an exciting time for exchanges that can offer the liquidity fiat options provide."
COBINHOOD has been working behind the scenes in advance of the fiat news to ensure rigorous Know-Your-Customer (KYC) requirements will be met. Specifically, COBINHOOD meets KYC Level 3 in order to operate in some of the most stringent regulatory jurisdictions globally. Hence, to provide fiat trading, COBINHOOD knew that it needed a payments partner that understood the monumental stakes. COBINHOOD has found such a partner in Epay, through which COBINHOOD offers its traders the most user-friendly payments interface that is also regulatory compliant.
To learn more about what a major step fiat trading is for COBINHOOD, please visit https://cobinhood.com.
Launched in 2017, COBINHOOD is a next-generation cryptocurrency service platform. COBINHOOD is home to the world's first zero-fee, high-frequency cryptocurrency trading platform. The company was founded by Popo Chen, the original founder of '17 Media', with the intention of shaping future economies by creating a financial center for the blockchain era. COBINHOOD believes that the evolution of blockchain technology and a decentralized financial landscape will transform global capital markets and business organizations with long-lasting impact.