An explosion of interest in cryptocurrency in South Korea last year has led South Korea’s sales of cryptocurrency to be the world’s highest. Many Korean cryptocurrency exchanges are in the upper ranks of world’s cryptocurrency market, led by Bithumb and Upbit, and Bithumb was even for once the top-ranked cryptocurrency exchange in the world.

However, it is true that there are growing concerns about cryptocurrency exchanges at this point with no clear regulation on the cryptocurrency market. Most of all, the most substantial concern is the low reliability of cryptocurrency exchanges in the market.

As the exchanges do not disclose details of cryptocurrency trades, customers never know whether cryptocurrencies are actually trading on an exchange or not. Therefore, the possibility of cryptocurrency exchanges rigging the market and manipulating market liquidity has been raised, and this leads to questions about the role of the exchanges.

To illustrate, in April 2018, the CEO of Coinest, one of the largest Korean cryptocurrency exchanges, was arrested for embezzlement of the customers’ funds. It turned out that he made fake trades on the exchange and siphoned off the client’s money into his and other executives’ accounts. He pleaded later that some money was set aside to purchase cryptocurrencies due to the nature of cryptocurrency market, but it was after the exchange was already discredited.

However, not every cryptocurrency exchange is exposed to the risk of embezzlement. A cryptocurrency exchange, Ruby-x, has cast new attention on its transparency in management.

“Ruby-x discloses all trading histories as well as all transaction fees on its platform and blocks all causes of issues related to exchange management,” said the Ruby-x official.

Ruby-x is a new concept of global cryptocurrency exchange that provides an integrated service based on blockchain technology. Ruby-x aims at constructing its own commercialized cryptocurrency ecosystem by offering a secured and expansible platform with transparent management. Also, Ruby-x is planning to provide trading services of funds, technology, information, and cryptocurrencies as well as cryptocurrency payment service.

Ruby token (RBY), issued by Ruby-x, will be used to pay all transaction fees and to trade options on the exchange as its main currency. Moreover, Ruby token holders can receive a variety of benefits such as the dividends every quarter of each year.

Ruby token sale will proceed from 10 August 2018 to 17 September 2018, and Ruby tokens can be purchased at its half price during the period of the sale only.

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To find out more about Ruby Exchange, please refer to the links below.

Official Website: https://ruby-x.io/

Token-Sale Website: https://token.ruby-x.io/#documents

Lightpaper: https://drive.google.com/file/d/0B_dCqhG6F-BaNjd5SUgzZjlNTExsWTJZZ1ZPSVFUbzBFeUFN/view?usp=sharing

Onepaper: https://drive.google.com/file/d/0B_dCqhG6F-BaOE5UNWM0VWxqemFDdUZOR3R5N3V0emRDTEkw/view?usp=sharing

Facebook: https://www.facebook.com/RubyExchangeOfficial/

Telegram: http://t.me/rubyex

Twitter: https://twitter.com/RubyExchange

Medium: https://medium.com/@rubyex

BitcoinTalk ANN: https://bit.ly/2n6BH5j

Bounty Program: https://bit.ly/2LK97pi