Going to a bank and making a transaction is every day's phenomenon. Thanks to mobile banking and internet banking that people's life has become a lot easier when it comes to financial services solution. But, when we have to make decisions on our investments, we still rely on human advice and expertise or we listen to our own intuitions. Imagine a world where smart machines will observe our investment activities and give personalized solution to risk and reward chances on our investment. Moreover, what if we become a bank for others? Can we issue loan to others and earn interest on that through a proper legal mechanism? The answer is Yes. CoVex has come up with one such unique platform where banking and financial services will be taken to an entirely new level.

Introduction

CoVex is crypto exchange platform backed by blockchain technology where the aim is to connect traders together by creating a one-stop evolving platform. In that platform payment providers, developers, merchants, enthusiasts and entrepreneurs can interact simultaneously. The vision is to revolutionize the entire conventional trading by developing a one- stop blockchain platform. It aims to establish a benchmark for this industry and become a thought leader when it comes to trading in cryptocurrencies. It is a completely decentralized platform managed by smart contracts. Enhanced transparency and security will give users complete control of their trading funds and investments. The cross-border margin trading and lending system will allow users to trade and invest in approved sales using existing coins or funds as security.

Current Problems

In the traditional banking system, because of a centralized mechanism user cannot make his own decision whether to invest in a specific business or not. One has to rely on specialist's decision. Moreover, traditional banking system are limited by government regulations. Only if the requirements of the regulator are met, then only loan can be sanctioned. Thus, it becomes a cumbersome and inefficient process. Also, in majority of the banks still manual labour are applied. This has a negative impact on both quality of analysis and speed of decision making for the borrower's solvency issues. Even some of the P2P systems face certain challenges. Collaterals that can be used for credit are restricted. Digital trading has not been incorporated yet. They lack all-in-one platform where traders can perform multiple activities.

Solution

CoVex has developed a cross- border crypto-exchange platform which will give power, freedom and independence to traders to buy, sell and exchange their favourite cryptocurrency at current and determined prices. An exclusive payment gateway has been developed to allow effortless trade between cryptos and other fiat currencies. It has also developed a cross-border social trading platform that permits traders to copy trade top traders. Margin trading will allow customers with an option of earning interest on their own funds by lending it to other users in the form of a P2P loan.

Token Details

CoVex tokens are called as COVEX. IT works on Ethereum ERC-223 standard backed by blockchain technology. The CoVex coins will be available for offering from May 2018 onwards. During the ICO a total of 192,500,000 CoVex coins will be released. In first phase a total of 30,000,000 CoVex will be released at an exchange rate of 1 ETH = 3000 CoVex. In the second phase a total of 81,250,000 CoVex will be released at an exchange rate of 1 ETH = 2000 CoVex. During the third phase a total of 81,250,000 CoVex will be issued at an exchange rate of 1 ETH = 1,000 CoVex. All the unsold coins will be stored and locked for one year and later on will be used for future implementation and development of CoVex project.

Conclusion

The next generation one-stop blockchain platform with all the essential and latest features like exchange, Social trading platform, P2P margin lending, payment Getaway etc. is all set to enhance the overall trading experience for the traders. Overcoming the challenges faced by conventional banking system, it is all set to disrupt the entire financial and banking services platform. A once in a lifetime opportunity for the investors to invest in a platform where the returns will exceed their expectations. So, it is time to make a wise decision and look for a bright future ahead.

Website: https://covexlabs.com/

Twitter: https://twitter.com/covexcoin

Telegram: https://t.me/joinchat/FGqocRL7Oj3p-YYV3mu2Ng

Blog by ollivander7

BTT Profile: https://bitcointalk.org/index.php?action=profile;u=1069616