Online of the major factors that make crypto investment riskier is the volatile nature of its value. This deters the traditional investors from making huge investments in cryptocurrencies. CryptoBank has come up with a viable solution for this issue by launching CryptoBank coins that are not subject to volatility. The value of these coins would be stable because they are directly issued against established fiat currencies like Dollar, Yuan, Ruble, and Euro. This allows the users to avoid losses, while exchanging their currencies over the CryptoBank platform. The system makes use of advanced blockchain technologies that allows the users to audit the transactions processed by the platform.
Features of CryptoBank
- CryptoBank does not represent an ethereum-based smart contract. It is a combination of different blockchain algorithms that are fixed against corresponding fiat currencies. Based on Bitcoin, the platform will be issuing 4 types of coins that are linked to 4 major fiat currencies. These digital currencies are named as CryptoDollar, CryptoYuan, CryptoRuble, and CryptoEuro. Separate blockchain technologies are assigned for each of these cryptocurrencies.
- The activities of the CryptoBank services are governed by its community members who have voting powers.
- For ensuring stability and accountability of the cryptocurrencies, the platform makes use of a reserve to cover ratio. This is to diversify the funds on the basis of its actual resource in the conventional financial world. For the number of coins issued, CryptoBank would hold the equivalent amount of fiat money in its cold wallets in the form of converted digital money.
- By providing the best rates the platform can help traders in reaping better returns from its exchange services.
- Users can buy and sell CryptoBank coins as and when they need to conduct any kind of transactions using the platform. The commission charged for the purchase or sale of coins are quite low compared to other platforms.
- The working on the platform is based on an anti-inflationary algorithm that protects the users and their investments from various types of market risks.
- The platform would monitor the mining activities of its coin holders. It follows the system of authorized mining that involves a verification procedure conducted by the CryptoBank’s central authority. This is to prevent spamming and fraudulent practices.
Should you invest in CryptoBank?
CryptoBank is a unique venture that has taken multiple precautions to avoid common disadvantages associated with the traditional cryptocurrency exchange platforms. This is to provide better financial protection to its investors and contributors. The transparent nature of its functioning can encourage more users to participate in its exchange platform. It also features a sophisticated payment system that allows customers and service providers to make use of cryptocurrencies of conducting their business transactions. The venture offers more benefits and better protection of its contributors by means of an automated verification system that helps in preventing fake transactions and manipulative crypto mining. Thus, CryptoBank is a comprehensive platform that offers the best solution for all types of crypto investment and exchange needs.