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Author Topic: [ANN] CoinoUSD - USD on NXT blockchain  (Read 4645 times)
coinomat.com
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March 23, 2015, 09:16:10 PM
 #1



What is CoinoUSD?

CoinoUSD is an asset tied to the US dollar, 1 CoinoUSD = 1 dollar. CoinoUSD brings USD to NXT trading directly to NXT blockchain, without using exchanges. We maintain a gateway which allows you to buy CoinoUSD assets or USD denominated payment systems. When you buy CoinoUSD asset it is transferred to you, and can be traded or sold back to us. It can even be withdrawn to your bank card!

What can I do with CoinoUSD?

The primary goal of CoinoUSD is to support NXT to USD (not only BTC and other cryptos) trading directly on NXT blockchain. So you can trade your CoinoUSD for NXT, making money from its price fluctuations, like you trade BTC to USD, for example.

Another usage of CoinoUSD is value transfer on NXT blockchain, tied to USD. It means that using the NXT client software you can send a transfer not only in NXT, but a transfer denominated in USD!

Your receipient can trade it or cash it out using our service.




About Coinomat

Coinomat allows you to convert between various cryptocurrencies and national currencies without the hassle of opening an account at an exchange. If all you need is a swift transaction without unnecessary complications, our service suits you perfectly. When a user wishes to purchase or convert coins or fiat money at an established Bitcoin exchange they have to go through a process of registration, depositing funds, sending a market order, and making a withdrawal order. Taking into account cryptocurrency transaction confirmation times; the whole process could consume several hours.

On the contrary, all it takes to exchange your funds with Coinomat is providing the address for receiving your coins and sending the funds to be exchanged to our address. The whole process gets complete within minutes, not hours. All transactions at Coinomat are fully automated and do not require registration. On top of that, you can use Coinomat API to initiate and complete exchange transactions without visiting the website. This feature can be used for automatic conversion between cryptocurrencies.

Another prominent use case of Coinomat functionality is the ability to pay for services which accepting Bitcoin directly, via Litecoin. Just use the Bitcoin payment address as the address for receiving funds from Litecoin exchange. Coinomat aims at maintaining competitive exchange rates relative to major exchanges. To that end we engage an automated algorithm which keeps our exchange spread as low as possible. Besides, we interact with major exchanges to obtain additional liquidity.

We are expanding in fiat currency exchanges, and p2p local exchanges. Also a merchant platform and hosted online multi-currency wallet are being developed now. We plan to add new functionality to our services and until we are able to offer a full-fledged closed solution for all your cryptocurrency needs.

We perceive our mission as that which is going to make cryptocurrency and fiat exchanges as smooth and agile as possible, contributing to overall liquidity of Bitcoin and other cryptocurrency markets. Besides, we strive to contribute to taking Bitcoin and the whole concept of cryptocurrencies mainstream and accessible not only to geeks and early adopters but also to the general public.







We pay interest on your Coinomat.com balance!

We have enabled internal interest-bearing accounts at Coinomat. If you maintain a balance of 10 USD (EUR) and above you are credited with a daily interest of 0.06% (currently). We're interested in obtaining additional liquidity for our payment cards and bank transfer operations, and are willing to share revenue with our users.

Currently interest is credited only on USD (EUR) balances, cryptocurrencies can be deposited by current exchange rates, CoinoUSD and fiat payments are credited to your balance with no fee. The interest is credited every day, your balance and accrued interest can be withdrawn instantly. The interest rate is subject to change with a one-month pre-announcement.

If you are a CoinoUSD holder you are eligible for interest payments too, without even depositing your CoinoUSD at your account, In order to connect your NXT account with your Conomat.com account for receiving CoinoUSD interest you need to log in at Coinomat.com using token authorization in your NXT client. After that the interest is credited to your Coinomat.com account as long as you keep CoinoUSD in your NXT or Coinomat.com account.


Withdraw Your Cryptocurrency To Your VISA or MASTERCARD!

Dear clients, now you are able to withdraw your cryptocurrency to your VISA or Master card through our service. We support all VISA and Mastercards worldwide, except for Visa Electron/Maestro cards and certain types of cards such as virtual credit cards. If we are unable to transfer funds to your card your exchange is refunded.

The transfer is made in US dollars, if your card is denominated in another currency the funds will be converted into the card currency by your bank using the bank's exchange rates. The transfer of funds to your card takes 2-4 business days to complete.

In order to use the service please select VISA/Mastercard USD from the exchange drop-down menu at our homepage. After that you'll have to log in to the member area (or register first if you haven't registered before) and add a credit card in your profile. Having completed this step you are able to choose your credit card for the exchange, order the funds transfer and send your cryptocurrency for the exchange.


Exchanges

Coinomat1
http://nxtreporting.com/?as=7474435909229872610
https://trade.secureae.com/#7474435909229872610
https://www.poloniex.com/exchange#btc_cnmt

CoinoUSD
https://www.poloniex.com/exchange#btc_xusd


Social
twitter.com/coinomat
facebook.com/coinomat
support@coinomat.com


Coinomat and SuperNET

If you follow our service developments you’ve probably heard that we are a core service of SuperNET.
Currently we’re close to the first major release of SuperNET related crypto application – NXT cryptocurrency GUI client with Coinomat services integrated in it.

Features

- Anonymous transactions based on off-blockchain technology called Teleport
- Anonymous transactions based on Criptonite technology realized in Boolberry, participating cryptocurrency
- Decentralized file storage
- Distributed and instant cryptocurrency exchange based on Instantdex technology built on top of NXT platform.
- Services provided by SuperNET partners, such as Coinomat instant exchange and banking service.

We are glad to help SuperNET grow and happy to be a part of its first software release.




Partner program

Our partner program offers an opportunity to earn substantial profit by referring users to us. Basically we pay a certain percentage of your referrals' exchange volume for all transactions they will ever make with us. The exact percentage depends on the crypto- or fiat- currencies which participate in the transaction, and the bonus is credited in the incoming currency of the transaction. For example, if your referral exchanged 10 BTC to LTC with us, you receive a certain percentage of 10 BTC. You can check the exact fee schedule below. Please note that your referral bonus can be increased if you are an active promoter. Your referral bonus can be checked in the member area, and can by withdrawn on request.

Please, pay attention that the minimal withdrawal amount is 0.01 BTC!

Revenue shares

Shares depend on incoming currency and partner status, by default we pay:

Default revenue is 0.3% of user input
Perfect Money input exchange operations bring 0.6% of user input
Perfect Money output exchange operations bring 0.2% of user input


                   

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March 23, 2015, 10:20:19 PM
 #2

Nice ANN, I've been noticing the reason changes. I like the idea of interest on my balance  Grin

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March 24, 2015, 10:05:20 AM
 #3

 
It's good that you communicate more on bitcointalk, the more volume the better it is.
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March 24, 2015, 10:33:20 AM
 #4


It's good that you communicate more on bitcointalk, the more volume the better it is.

Yes, we will be marketing CoinoUSD much more now. This is important for the development of NXT ecosystem in general.
And NXT is a cool crypto worth developing Smiley

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March 24, 2015, 03:41:11 PM
 #5


It's good that you communicate more on bitcointalk, the more volume the better it is.


Do you have any experience using Coinomat? Looking for a few reviews.

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March 25, 2015, 07:23:18 AM
 #6

Guys don't forget that CoinoUSD is the only crypto which can be directly withdrawn to any Visa/Master card,
directly from your NXT client.
Fees are 3% + $5, transfer takes two business days

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March 26, 2015, 04:40:19 PM
 #7

Guys don't forget that CoinoUSD is the only crypto which can be directly withdrawn to any Visa/Master card,
directly from your NXT client.
Fees are 3% + $5, transfer takes two business days

Thanks for the info! I'll be giving this a go  Cool

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March 27, 2015, 03:11:58 PM
 #8

It's good that you communicate more on bitcointalk, the more volume the better it is.
Do you have any experience using Coinomat? Looking for a few reviews.

Yes, should I post the review here ?
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March 27, 2015, 05:13:12 PM
 #9

It's good that you communicate more on bitcointalk, the more volume the better it is.
Do you have any experience using Coinomat? Looking for a few reviews.

Yes, should I post the review here ?

for sure

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March 30, 2015, 01:27:22 PM
 #10

Any giveaway or bounty for CoinoUSD  at the moment ?

Thanks !
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April 08, 2015, 02:14:11 AM
 #11

Any giveaway or bounty for CoinoUSD  at the moment ?

Thanks !

There's a signature campaign happening right now

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April 16, 2015, 02:05:58 AM
 #12

I see from coinmarketcap that hte marketcap of coinoUSD is more than $1M. Were all of these 1 million coinoUSD generated because someone actually bought them with USD at coinomat? Are there pre-mined or reserved or otherwise generated coinoUSD that exists without someone's paying at $1 each?

Is there a white paper describing the generation and destroying of coinoUSD?




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April 16, 2015, 08:01:07 AM
 #13

I see from coinmarketcap that hte marketcap of coinoUSD is more than $1M. Were all of these 1 million coinoUSD generated because someone actually bought them with USD at coinomat? Are there pre-mined or reserved or otherwise generated coinoUSD that exists without someone's paying at $1 each?

Is there a white paper describing the generation and destroying of coinoUSD?
Hi, this is it the total CoinoUSD available for purchase now, that is which is NOT at the issuing account. That's the way Coinmarketcap calculates capitalization.
CoinoUSD is issued in genesis block so to say, so it can't be destroyed, also there can be no additional issue.
CoinoUSD is nothing else than an asset on NXT blockchain, so everything which applies to AE assets apply to CoinoUSD.

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April 16, 2015, 03:06:57 PM
 #14

I see. So it is an upper limit of all coinoUSD in circulation. How does one know there will be enough USD to buy back his coinoUSD at $1 each?




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April 18, 2015, 02:18:10 PM
 #15

I see. So it is an upper limit of all coinoUSD in circulation. How does one know there will be enough USD to buy back his coinoUSD at $1 each?
It is hard to implement this feature using NXT asset, although we're thinking about it.  The liquidity guarantee is constant exchanges at Coinomat.com, all CoinoUSD is redeemed instantly.

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April 16, 2016, 10:18:51 PM
 #16

Today 10000% plus Shocked
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April 18, 2016, 08:30:26 AM
 #17

Beautiful ANN!

And solid project. I am big fan of Supernet.
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April 18, 2016, 08:42:06 AM
 #18

The things getting better and better  Smiley very good project.

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April 18, 2016, 06:57:55 PM
 #19

any news XUSD ??
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April 19, 2016, 05:51:18 PM
 #20

I'm confused by this. In easy to understand way, what links XUSD price to fiat US$ ?
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