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Bitfineon GmbH i.G. has been founded!

As many of you have already realized, Bitfineon.com will not be founded in Germany. We have decided against incorporating in Germany due to various issues that have arisen, mainly finding qualified lawyers and tax consultants that specialize in cryptocurrencies. Furthermore, we wished to avoid delaying the launch of Bitfineon.com, which could’ve been the case had we decided to make Germany our base of operation.

Another very important reason is the legal climate surrounding data privacy and client confidentiality in Switzerland. As you may know, the Swiss have very strict data protection and financial secrecy laws in place, which in turn puts Bitfineon in a perfect position to protect its customer data — your data — against relaying it to 3rd parties and foreign jurisdictions. This does not mean that we will not be conducting and reviewing KYC/AML applications, as it is necessary when dealing with fiat currencies, however it grants us tangible legal guarantees that our privacy policies will be honored, and a competitive edge against other exchanges that are located in far less friendly jurisdictions who might surrender customer data.

As a result we have decided to maintain batches of dedicated, isolated and encrypted servers to store customer data.

Bitfineon will remain a GmbH formation as it already is in the incorporation process, hence why it’s currently officially named Bitfineon GmbH i.G. (i.G. stands for “in Gründung”, or “being founded” in English). Our office and corporate HQ is located in the rural area of Zug; not directly in the City of Zug, but roughly 8 Kilometers, or 10 minutes by car away from Zug.

Our full address:

Bitfineon GmbH i.G.

Industriestrasse 3

6345 Neuheim, Kanton Zug

Schweiz, CH

You will also be able to reach us directly at:

+41 411 588 00 07

Bitfineon will launch as a crypto exchange first, and fiat will shortly follow!

To tie everything down and launch straight away, we will launch Bitfineon with crypto-only trading pairs first, but will be sure to add fiat pairs very shortly thereafter. We believe this option will best allow us to meet our deadlines, as launching fiat pairs up front would delay its launch.

ICO or no ICO — that’s the question

Due to existing financial securities regulations surrounding token issuance, we were reviewing the possibility of conducting an ICO for Bitfineon. Not to worry — if we do conduct an ICO we will grant ALQO holders right of first refusal, i.e a 1:1 ALQO-BNS (Bitfineon Shares) swap for anyone who wishes to participate, a direct BNS airdrop proportional to your ALQO balance, OR offer substantial and exclusive discounts for purchases made with ALQO.

As we have not yet decided on the ideal way to fund the marketing campaign around Bitfineon, we will plan this further and keep you updated. Please note — there is no 100% guarantee that an ICO will be conducted for BNS (and we won’t issue any BNS tokens if not). However, regardless of how we choose to proceed, we guarantee that we will take an ALQO-first approach and the ALQO community and its investors will be rewarded immensely. Either way and as you can appreciate, a well-funded marketing campaign will be critical to the success of Bitfineon if it is to gain traction, popularity and adoption all the way to becoming a top 25 global exchange.

How does ALQO benefit from Bitfineon?

Here are some of the Benefits that Bitfineon will have for ALQO users:

Fee-free trades on ALQO pairs (excluding fiat pairs)

Fee-free ALQO withdrawals and deposits (excluding tx. fees)

Confirmed ALQO pairs: BTC/ALQO, ETH/ALQO, LTC/ALQO, BCH/ALQO, XMR/ALQO

Revenue sharing — we have yet to determine the best way to distribute exchange profits to the community, but it will be a 50% profit share structure with either BNS or ALQO (depending on whether an ICO will be conducted). Those will have to be held in your Bitfineon account to secure payment eligibility (which is another reason why an additional token would be beneficial).

Airdrops, partnerships, contests and many more. With the launch of partner ICOs, contests and others, BNS/ALQO investors will benefit from the most profit-yielding activities that take place on Bitfineon.com.

New and advanced features will also be added

Direct trades: Say goodbye to OTC (over-the-counter) trades; Bitfineon will offer direct trades with low fees, in order to minimize scam attempts and ensure that you trade with trust and confidence. The setup will be very easy, and both users will have to be registred on Bitfineon.com and have the funds on their account in order to fulfill the trade.

Auctions: You will be able to set up auctions for specific amounts of cryptocurrencies. Those trades will not have an API so trading them will not have a (direct) impact on market prices.

More features to be announced soon.

Working together

We really hope that you understand our decision to move Bitfineon to Switzerland, since most of you preferred Switzerland over Germany when that question was raised on Twitter. Despite being an unofficial vote, it showed us the community sentiment and the direction it supports and so we believe we are making the right decision on this topic.

In the end, we are all a team, and Bitfineon will only be successful if it is successful for all of us.