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Nothing said in your post is true. Panxora is not a new exchange. It has been trading since 2014 under the FGC brand. Further it runs on clustered servers and a middle tier architecture. We serve tens of thousands of traders and do not crash.
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Panxora allows you to use all 40 currencies traded on the platform as collateral to trade a large number of stocks from NASDAQ, NYSE, LSE, DAX and HKeX.Accounts are structured so you cannot lose more than the balance in your account. The reason is that the risk management engine manages all the positions in an account. Maintanence margin on stock trading is 8 times. If the crypto in an account drops in value so this ratio is not maintained the risk engine scales back the stock position. Panxora has been trading since 2014 under the First Global Credit brand, but they rebranded in November 2018 as Panxora.
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Came by this list because I'm about to run out of options for fiat handling. Would love to hold forever but as earn 100% in crypto now, no choice but to sell for fiat to pay bills etc.
1. All my trades when liquidating to fiat is with Bitcoin on P2P. Earnings are diversifying into other major alts. But as am losing quite a bit of fees and time exchanging alts I do earn to Bitcoin first, have used options like BitPanda to liquidate other crypto to fiat (SEPA preferred), but as cannot verify being non-EU, I am hitting my max limit and need other places.
2. Bittrex is the only option listed, but I can't verify with them as they need TWO bills (I only have 1).
Any other option for international bank transfer when withdrawing?
I use Kraken and they are very sensible in terms of KYC which is tiered. It links to my barclays account with no problems withdrawing at all. |
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Are you serious don't wants to pay for get listed on the exchange? Come on man, all central exchanges will definitely ask for listing fees unless they have a voting feature, but this is very difficult to win because it requires a lot of votes from the community. If you want the value of AICOIN grow fast, you should not care about this fee because I'm sure the results will be comparable to what you spend.  now the team behaves a little scattered. it is still unclear for some of us Please refer to the vote taken in November of 2017 when the collective specifically voted not to pay for an exchange listing. Further, there are literally hundreds of exchanges both CEX and DEX and not all of them ask for a listing fee especially in this depressed market. I encourage all token holders to pass opportunities to us for listing We will continue to explore them. |
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So, at the bottom of your page it says The domain www.excoinet.com is solely and exclusively operated by Safecap Investments Limited (‘Safecap’), which is regulated by the CySEC under license no. 092/08 and by the FSCA under license no. 43906. Safecap is located at 148 Strovolos Avenue, 2048, Strovolos, P.O.Box 28132, Nicosia, Cyprus. Safecap is/was part of Teddy Sagi's markets.com operation. They don't mention excoinet anywhere. Then your "About" page says Excoinet A/S is a subsidiary company under Thyregod Invest ApS. Your embedded link is dead, but Thyregod appear to be a small Danish VC operation. They don't list you as a client/venture anywhere. Where are you? Your FB says 32 Sullivan Chase Dr Avondale 19311, Pennsylvania Your site says We are based in Belgium. Our address is:Emiel Vlieberghlaan 10, 3900 Overpelt And who is "Thomas Mcdonald, founder and CEO of Excoinet.com" and in what possible business plan is paying 10% over the odds for a widely traded asset a rational idea? Excellent due diligence. |
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This is a very thoughtful and reasonable post. I would add to it the security around withdrawal. Anytime an exchange can immediately act on your w/d request that means your private keys are sitting right there on the web. There are better ways to handle withdrawals but it does make the process slightly slower and a bit more cumbersome. I'll take that ANY DAY OF THE WEEK over the knee knocking fear that someone is going to hack an exchange. Which happens all the frickin-fracking time! I lost bitcoins and investments on GLBSE ( https://en.bitcoin.it/wiki/GLBSE) when it closed. Then I had my own exchange, BTC Trading Corp, which was forced to close due to regulation. (Though I kept it online long enough to process withdrawals and generate tax reports!) Then I lost a whole bunch of LTC when BTC-e ( https://en.wikipedia.org/wiki/BTC-e) was forced to close due to failing AML regulation. So now when I look for an exchange I try to figure out: - Is it secure? Do they have per-trade 2FA and experienced developers and system administrators?
- Is it in a jurisdiction with good legal structure? If they run with my money - are the local police even going to care?
- Is it legal? Do they follow the laws of not just their own country, but also all countries around the world that might seize them? This applies to AML, KYC, Securities, etc.
- Is it transparent? Can I easily find out who they are and where they are located? (important if I have a legal dispute with them)
- Is it properly registered? Can I easily look up their business registration and licenses on the internet?
- Do they have low trade fees without me having to hold one of their special tokens? I don't care if they profit share or any of that gibberish - just give me a low trade fee in the first place!
Profit sharing will never give me as much back as I give in over-priced trade fees - that is WHY they do it! - In their jurisdiction do they have a fiduciary duty to protect me? This means - do they legally have to put me first? Or can they put themselves first? This is important if something happens and they lose your money or if a hacker takes your money using flaws in their exchange.
I've been around in the cryptocurrency space since 2012 and I've seen a lot of bad things happen to good people. I hope that helps! Cheers |
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I disagree. I think there's alot of dissatisfaction with CMC and I personally have moved over to BraveNewCoin.com. They parse data in a much more useful way.
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This report is absolutely fascinating! It is a testiment to how young and inexperienced crypto-business founders are that the same vulnerabilities appear again and again and are exploited repeatedly. This is something my partners and I talk about all the time and are building safeguards into all our cryptobusinesses that take heed of the common and known vulnerabilities. I see that Ciphertrace offers solutions for these issues. What great positioning for a company right now.
Thank you for the information!
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