Have read your project details, but tell me in breaf what will be your main advantage in comparison with binance for example ?
Binance is like many other exchanges on the market. While exchanges are Coinvest closest competition, no one is executing investment trades in a completely decentralized process as Coinvest does... so it doesn’t have anyone to compare with directly... yet.
Coinvest is a trading platform (and market maker) where you make investment transactions and redeem profit from your trades through a process that is completely decentralized and handled by smart contracts. Platform is an all-in-one investment platform, wallet, and exchange (future). Coinvest aims to be a one-stop solution that enables anyone to easily buy, invest in hundreds of different cryptonized assets, and spend cryptocurrencies using only one wallet and one coin.
Coinvest main advantage is that it is decentralized. Investment process is managed by smart contracts including user investment data and funds. User funds are held in escrow (and not by a centralized third-party) by the smart contract until they are withdrawn by the user. Coinvest has no ability to touch or manage those funds including the liquidity pool that collateralize and back the investments. Once funds are withdrawn from a user’s portfolio, they can be stored in the wallet or spent directly from your wallet using the built-in debit account.
To make this more real, let’s apply this to a potential real-life scenario. Imagine if you want to invest in 12 different coins. With today’s solutions, you would have to:
- Search and find all of the exchanges that support the coins you want
- Go through KYC checks for each exchange
- Place 12 individual trades and incur % fees for each trade
- Worry about having multiple wallets to support multiple protocols
- Manage different private keys
- Sell and convert your assets back to fiat currency before being about to spend them
On Coinvest, you could execute all of the above in one trade, for one fee ($4.99), and only have to manage one wallet. From there, you can spend your COIN directly from your wallet without having to convert it back to fiat (using our built-in debit card support).
Today, current solutions in the market are just too complicated. Coinvest is democratizing cryptocurrencies by creating a single destination that empowers anyone to easily buy, invest, and spend cryptocurrencies through a decentralized process using only a single online account and COIN.
