CoinZoom AMA Summary with Decentralized Club ✔️
Dear, Community,
Welcome to our community on t.me/decentralized_club Telegram group’s AMA. We really appreciate all your support. There were really good and thoughtful questions that were asked. For those who missed our AMA, this blog post is for you :)
✔️Introduction with CoinZoom :👉
Trader(BILLY):
Q1. Can you introduce yourself to the community and also tell what is Coinzoom about? @CoinZT
Ben Crosland | coinzoom.com:
Yes! Yes! Hello everyone! My name is Ben Crosland, I am the Cofounder and director of business development at CoinZoom. Todd Crosland is both Founder and Chief Executive Officer of CoinZoom and has operated in Financial Services, Investment Banking, and Venture Capital for over two decades.
Prior to CoinZoom Todd founded and acted as CEO of Interbank FX, LLC (“IBFX”), a Futures Commission Merchant and Retail Foreign Exchange Dealer registered with the U.S. Commodities Futures Trading Commission. IBFX grew into a global entity with offices around the world and over 250,000 customers in more than 140 countries. The company also generated annual trading volumes of over $750 billion making it a leader in the retail Forex trading services industry.
Todd also serves as the Chairman and Founder of Seed Equity Ventures, a registered broker-dealer with the Securities and Exchange Commission, and is a member of FINRA/SIPC. Seed Equity Ventures has over 12,000 registered investors, entrepreneurs, and members, from around the world, and Todd is also the Founder and General Partner of CoinZoom Ventures, a venture capital firm that invests in fintech and blockchain companies such as Mainframe. He has also received a number of awards including The Ernst and Young Entrepreneur of the Year Award and holds the following Securities Licenses: Series 7,24, and 63.
He is supported by a core team which includes the Vice President of Trade Operations Mark Osterloh, who also worked as the VP of Trade Operations at IBFX for over 14 years, while Chief Technology Officer Paxton Powers previously served as Chief Information Officer of IBFX.
Trader(BILLY):
Hmm. That’s a galactic level of experience and reputation backing Coinzoom. Such people creates trust and reputation for a brand
Q2. Let me ask the same question which is asked to every exchange. What has been done regarding security? @CoinZT
Ben Crosland | coinzoom.com:
The safety of clients funds is the main priority for CoinZoom. Cold storage Wallets are provided by BitGo, the leader in digital asset financial services. BitGo Custody carries $100,000,000.00 in insurance protections through a syndicate of underwriters through the Lloyd’s, the world’s specialist insurance and reinsurance market. And this premium service comes in at no additional cost (details can be found here)
The $100 million policy covers digital assets where the private keys are held 100% by BitGo in the event of:
• Third-party hacks, copying, or theft of private keys
• Insider theft or dishonest acts by BitGo employees or executives
• Loss of keys
CoinZoom has chosen BitGo as its custodian because BitGo provides 100% cold storage technology in bank-grade Class III vaults and the BitGo platform is SOC 2 Type 2 certified. Advanced authentication mechanisms are employed to ensure the authenticity of data, and assets are distributed geographically and organisationally.
It is the account holders’ responsibility to safeguard their accounts by means including but not limited to using a strong password, enabling two-factor authentication and controlling all login credentials to CoinZoom.
Trader(BILLY):
Coverage by Bitgo can save many a sleepless nights 🙏
Q3. How does the Visa card make coinzoom have an edge? @CoinZT
Ben Crosland | coinzoom.com:
The platform also incorporates a Visa Debit Card which provides up to 5% back on all purchases, and also allows a trading discount of up to 50%. The physical card will be accepted in 50 US states while virtual cards will be available for all domestic and international clients. Card users can enjoy enhanced benefits by holding ZOOM in their accounts with the Select card requiring 0 ZOOM while the Preferred card requires a balance of 100,000 ZOOM. The cards are rewarded to customers automatically upon sign up. You can literally spend your bitcoin like money at any Visa retailer in the world
Trader(BILLY):
Q4. How do you solve the problem of having highly spread out order books and low volume? @CoinZT
Ben Crosland | coinzoom.com:
The issues surrounding current cryptocurrency trading platforms are well known and include an overall lack of stability as legislators continue to shape the regulations that govern the industry. As a result, a number of exchanges seek to avoid falling foul of regulators by sticking to providing crypto to crypto services and not supporting any fiat currency transfers. The team address these issues head on by applying for and securing a number of licenses which allow CoinZoom to support fiat currency transfers and remain regulatory compliant.
CoinZoom also aims to address issues related to poor security with a number of leading exchanges suffering significant hacks, and a lack of responsibility/transparency regarding users’ transactions and funds. High frequency traders also often face significant price discrepancies, extreme lag times, and even low liquidity when not trading on one of the most popular crypto exchanges. CoinZoom aims to provide a next generation trading platform with a responsive UI and order matching engine, alongside deep liquidity.
With regards to institutional clients, CoinZoom aims to focus on security and ensure asset protection by providing secure custody and control of users’ assets. In addition, the team aim to provide a trading service that suits the requirements of high frequency traders and incorporates fair and orderly markets with comprehensive high quality market data available to all users. Platform users can also look forward to efficient trade execution with orders being completed at the best available price, and deep levels of liquidity as a result of partnerships with institutional liquidity providers.
Trader(BILLY):
Your answers are well detailed and extensive!
Q5. Finally, what does Coinzoom hope to achieve by the end of Q2 this year? @CoinZT
Ben Crosland | coinzoom.com:
In just over one week since our official launch. We have onboarded customers from 83 countries. We look to continue our global expansion and increase our market share in the crypto space. We will be adding mating trading and lending in the next couple months.
🐧Community ask Questions by Twitter ✔️
Trader(BILLY):
🐦 Twitter Question No :1
Username : @DustyLoooza
Question
“THE COINBASE RIVAL”
this has always been tagged to you @GetCoinZoom in many google articles.
May I ask,
Is this beneficial to you as a competitor?
Do you anticipate or ENJOY this RIVALRY of sort?
Ben Crosland | coinzoom.com:
To be compared to Coinbase is high praise for us. Although we are just launching. We have near as much capability as they have. We are significantly cheaper than Coinbase in terms of fees and deposits.
Trader(BILLY):
🐦 Twitter Question No :2
Username : @TheSilverrr
What role does the Zoom token play in the CoinZoom ecosystem? What will users benefit from holding the Zoom token for the long term? What is your vision?
Ben Crosland | coinzoom.com:
ZOOM is an Ethereum ERC20 utility token, and provides holders with a wide variety of discounts, product enhancements and rewards. These include discounts on trading fees of up to 50%, and a cashback bonus of up to 5% on all CoinZoom Visa card purchases. ZOOM holders also gain access to higher Visa Card tiers including the Gold, Platinum, and Black cards, as well as staking bonuses. ZOOM is an Ethereum ERC20 utility token, with a limited total supply of 600M, the token distribution is as follows:
• 50% VIP — Available for purchase by community members in order to participate in the VIP rewards program.
• 30% Rewards — These tokens will be distributed to reward users and grow the CoinZoom community.
• 20% Team Incentives — Subject to 3-year vesting schedule.
🔷 Quiz Round ➡️ Answered by Community ↘️👪
Trader(BILLY):
Q1. Where is coinzoom based?
S.A.M. Crypto Trader:
Australia
star:
us
Alejandro Urich:
USA
@dustyllanos:
Usa
fafafifi 🇵🇭:
usa
Mayowa:
USA
li wei:
Australia
Trezor:
Australia
Natalie Portman:
USA
Serg:
USA
Sarung Khan:
Australia
Marián:
Usa
Tony Montana:
U.S
Blue Sea:
USA
Answer : USA
Trader(BILLY):
Q2. What is the maximum trading discount Zoom token holder gets?
Alejandro Urich:
50%
star:
50
fafafifi 🇵🇭:
50%
Serg:
0.2
JaKi l MKT Community ⭐️:
80%
Nisith Kumar Nayak:
35
ahihi132:
50%
Aldilan (aku suka lia):
50
Trezor:
70
Sarung Khan:
40%
Mayowa:
50%
Marián:
50%
Tony Montana:
25%
Danail Stefanov:
10%
Kakeknya Ary Legowo:
50%
S.A.M. Crypto Trader:
50 percent
Gb:
50
MigTyO:
50%
@dustyllanos:
Usa
Answer : 50%
Trader(BILLY):
Q3. Which company is the custodian of Coinzoom?
Serg:
ZoomMe
Lunm (Dogs are long with dogecoin):
Bitgo
Alejandro Urich:
BitGO
MigTyO:
Bitgo
maranatha:
BITGO
wang ying:
Bitgo
Blue Black Fish:
Bitgo
fafafifi 🇵🇭:
BitGo
Danail Stefanov:
Bitgo
Trezor:
Bitgo
Blue Sea:
Bitgo
Bitcoin Warrior:
Bitgo
Sujit:
Bitgo
Kakeknya Ary Legowo:
BITGO
Custódio Florencio:
Bitgo
Leocadia Numez 🇻🇪:
Bitgo
Marián:
Bitgo
li wei:
BitGo
S.A.M. Crypto Trader:
Bitgo
Answer : Bitgo.
Trader(BILLY):
Q4. What is the benefit of ZoomMe money transfer?
Alejandro Urich:
No fee
Blanca Sanchez:
FASTEST
star:
20
Serg:
0.2
Marián:
Faster
li wei:
(www.coinzoom.com) is the next-generation cryptocurrency exchange, where customers can buy, sell, and spend Bitcoin, Ethereum, Ripple, and over 40 other cryptocurrencies.
Lester:
Free
CryptonitS:
0/2
JaKi l MKT Community ⭐️:
Free fee
Danail Stefanov:
Less fee
wang ying:
No fees
ahihi132:
no fees
Trezor:
0 fee
Tony Montana:
No fee, instand transfer
fafafifi 🇵🇭:
instant Peer-to-Peer fiat and crypto money
Bitcoin Warrior:
Free
Kakeknya Ary Legowo:
Fast
Sujit:
0 fees
Leocadia Numez 🇻🇪:
free
MigTyO:
Zero fess for users
Gabriel:
Premier Fiat Gateway
star:
0.2$
Blue Sea:
Free, Peer-to-Peer, Cross Border fiat and crypto transfers. Instantly transfer both fiat and crypto for free to any friend in the world. All that is required is for your friend to have downloaded the CoinZoom app
li wei:
Free, Peer-to-Peer, Cross Border fiat and crypto transfers.
Custódio Florencio:
0.1$
Answer : Free, Peer-to-Peer, Cross Border fiat and crypto transfers. Instantly transfer both fiat and crypto for free to any friend in the world. All that is required is for your friend to have downloaded the CoinZoom app
✍️ Telegram live Questions answered by CoinZoom ✔️
Trezor:
There are 5 types of debit cards offered by Coinzoom platform which are select card, preferred card, gold card ,platinum card and Black Card !
So, My question is = Is there any special requirements for coinzoom Black card ? If so, then whats the requirements & whats the benefits of that cards?
Ben Crosland | coinzoom.com:
https://www.coinzoom.com/cards/
Alejandro Urich:
1. Having many uses of the cryptocurrency in the platforms is a great advantage for the projects. What are the uses of CoinZoom currency? Will it have more uses in the future? Can it be exchanged?
2. Due to competition in the market, we can find very good projects. What makes CoinZoom different? What are its strengths?
Ben Crosland | coinzoom.com:
ZOOM token will be used in various echosystems in the future but now primary in the CoinZoom echosystem for trading discounts, cash back, and interest earn bonus
Q: What is the role of Zoom token in the CoinZoom ecosystem? What is the benefit of holding Zoom over the long term?
Mayowa:
The US is notorious for having an extremely strict regulations on Crypto exchages. How does CoinZoom meet the regulations?? Does the regulations bring limitations to CoinZoom?
Ben Crosland | coinzoom.com:
We are licensed in 46 states as a money transmitter as well as MSB with FinCEN. We have more MTL licenses than Binance US. Because we are so compliant we have the trust of new customers signing up with CoinZoom
Tony Montana:
⭐You really think that is enough the Coinzoom’s cards to atract a huge amount of users? Apart of the P2P trasaction and Apps , coinzoom have pre-Alpha other kind of service?
⭐The Coinzoom AI are completly by your own? Or there exist an company behind? Just identifiques the support and resistance level? Or evaluate the behavior of the coin graph through time?
Ben Crosland | coinzoom.com:
We are the only exchange in the world besides Coinbase that has its own Visa card. No one else has P2P transfer that’s free in the world