Kubitx Token Review


INVEST NOW at https://www.kubitx.io/

BACKGROUND
HOW THE IDEA OF KuBitX CAME TO LIFE
The idea to create a new cryptocurrency exchange came up when the founders identified some crucial shortcomings in the present Cryptocurrency exchange ecosystem. The founders had a strong belief that the cryptocurrency exchange ecosystem has more to offer. Following are the biggest gaps which caught our attention:

1. Lack of a mature ecosystem -lack of regulations on the way trades operate on the exchange often allows “whales” to manipulate the prices of certain currencies which is against the interests of other traders. Despite the cryptocurrency space growing rapidly and currently having a market cap of about $300 billion the trading ecosystem is still premature. There are several exchanges which suffer from serious liquidity concerns and many charge high trade fees which are very expensive to many people around the globe.

2. Friction in dealing with fiat currencies – Often getting liquidity in fiat currencies against crypto assets is a hassle and leaves currency holders at the mercy of market volatility which often can lead to people losing out on money due to delayed processing either by the exchange or the banks

3. Lack of good customer support –Traders often complain of bad user experience due to the non-responsive customer support provided by many exchanges. Often it is either the lack of management staff to handle the requests or a lack of will which leads to a poor customer support. We identified that most of the exchanges do not spend enough on customer support. 

4. Security issues – the cryptocurrency space is often being bombarded by hackers who try to use the vulnerabilities present in the exchanges to their benefit. Many exchanges in the past have suffered cyber-attacks which has led to losses in the order of billions of dollars. Often, not following the industry standards and neglecting the basic rules of cyber security allow for such attacks to happen. Thus, exchanges do have a huge responsibility on their shoulders to protect the hard earned money of their customers.

5. Lack of awareness and education among the masses leading to a low adoption rate – Due to a lack of education and knowledge about the Blockchain and cryptocurrency space, people are reluctant to be a part of the cryptocurrency ecosystem which has led to the market being dominated by a select group of traders who are able to manipulate the market at will. This fluctuation and volatility further lowers the rate of adoption of cryptocurrency trading. 

WHO WE ARE
The KuBitX team is composed of an extremely talented and experienced bunch of professionals with significant work experience from Fortune 500 companies and “Big Four” consultancy firms. Having gained substantial insights and expertise in our respective domains, it was natural for us to work in the development of the emerging markets from where we actually belong. The team has this innate quality of not only motivating each other constantly but to complement each other’s work. The go-getter attitude of the team has thus led to overcome all the obstacles that we have faced till date. 

THE PRESENT CRYPTOCURRENCY EXCHANGE ECOSYSTEM
Undertaking thorough and diligent market research has led us to gain substantial insights into the present working architecture of the Cryptocurrency exchange ecosystem. The Market share by 24-hour trading volume is as follows2 :



WHAT IS KUBITX?

ADVANCED PLATFORM
KuBitX is one of the most advanced and robust cryptocurrency trading platforms designed in a very user-friendly manner to enable people from all regions and backgrounds get a stronghold of the ideas revolving around the Blockchain and the cryptocurrency space.

SECURED WALLETS
Contained within the KuBitX ecosystem are the KuBitX Trade engines, the secure KuBitX wallets, and an advanced Admin dashboard for regulating the activities within the Trade Exchange.

FOR BUYERS AND SELLERS
By targeting even the remotest people for their inclusion in the cryptocurrency market, our goal is to become one of the most diverse cryptocurrency marketplaces for buyers and sellers worldwide.

KuBitX VISION AND MISSION
The ideation process behind KuBitX was undertaken keeping in mind the broader vision to educate, enable and engage people from emerging markets in the cryptocurrency ecosystem. The technological development that has taken shape since the dawn of the Internet era has been top-down, i.e., from the developed nations towards the developing nations. This has created a gap in the overall development process thus compelling people from the emerging markets following the trail of development rather than being active contributors in shaping the process. KuBitX aims to leverage the emerging technology to move forward in the vision and mission that we have. The broader areas upon which the vision of KuBitX has a focus upon are:

1. Education about Blockchain technology enhancing adoption by masses – KuBitX has come up with a unique initiative called Global Channel Ambassadors to enter, understand and capture local emerging markets. We aim to tackle the socioeconomic hindrances to adoption. The KuBitX Global Ambassador Initiative will reach the grassroots to drive local adoption.

2. Liquidity improvement – Liquidity is one of the most important pillars of any exchange that exists. Many exchanges today suffer from a liquidity crunch leaving users stranded with their currencies. To tackle this, we plan to involve market makers to build sustainable volume on the exchange, reducing cost of transactions and simplifying the complete process. To avoid wash trading, we have Anti Market Manipulation (AMM) tool on the platform. Market surveillance, supervision and compliance are being looked into very carefully. The admin can choose to freeze an account associated with suspicious trading.

3. Robust Security – Security is one of the most crucial pillars surrounding a cryptocurrency exchange. We at KuBitX do take the security of the whole platform very seriously. Hereby, we not only are developing our own exchange system secure but also plan to make users aware of various frauds and hacks going on in the market. Following are the security measures taken by the team: 
 We are storing the password hashes and not the original passwords in our servers. 
 All user data is encrypted using the AES-256 before being inserted into the database. 
 KuBitX has designed a customized security architecture to ensure encryption keys are stored very well. 
 Secure offline multi-signature cold wallets/vault system. 
 Our system is fully GDPR compliant.

4. Financial Inclusion – The emerging markets today especially in Africa and Asia suffer from a large chunk of their population being out of reach of the traditional banking system. Banks become controllers but here the person becomes the controller because P2P transactions are possible through their phones. The philosophy of the Blockchain era is excluding the third party and use P2P transactions. Africa has large amount of unbanked people hence KuBitX will educate people how to take advantage of Blockchain philosophy thus enhancing financial inclusion

5. Economic development of the emerging markets – On a macro level, the emerging markets like Africa experience from low GDP rates, high inflation and generally poor economic growth. KuBitX with extensive strategic partnerships with the private and public sector, have designed an institutional investment plugin on the KuBitX engine to enable a higher volume of crypto trading and traditional capital trading functionalities. For instance, Zimbabwe uses a legal tender which is not native to their country thereby creating a negative impact on all aspects of their economy. KuBitX will be creating opportunities for a digital economy thereby allowing each nation to run its own economy and giving it an opportunity to play in the global market.

WHAT MAKES US DIFFERENT?

1. KUBITX AMBASSADORS – THE VALUE PROPOSITION...OUR DIFFERENTIATOR
Ambassador/Channel Program: The Ambassador program is key to entering, understanding and capturing the local emerging markets. An innovative offering like KuBitX will not be understood and adopted without engaging with people locally in each region It will not be sufficient to run traditional adverts, social media or digital marketing techniques. In the target markets, education/awareness creation by regional people will form the basis for understanding the Blockchain technology, crypto-currencies and the offerings of KuBitX.

WHAT’S THE VALUE OF AMBASSADORS?

- Ambassadors will engage with people in multiple ways, e.g. via information events in cities & large towns. Furthermore, they will connect with local influencers and people involved in government and regulation 

- The Ambassadors will help us accelerate crossing the chasm in their respective regions, helping KuBitX to be adopted much faster, and thereby reducing the budget for advertising in these regions. 

- The Ambassadors being in-country will help us gain a better understanding of how we can drive the adoption of KuBitX and the inherent values it will bring across the Socio-Economic sphere of each country in the emerging countries.

2. FINANCIAL SERVICES
Our strategic partnerships with banks and payment providers are helping us to create a full-service financial institution with cryptocurrency integration. This entity will provide all of the traditional banking services and more: 
 Funds transfer (wire and peer-to-peer) 
 Payment processing 
 Merchant servicing 
 Remittances 
 Bill payment 
 Trade Financing

Additional service offerings: 
 Track and spend digital currencies in a single account. 
 To connect their account with any existing digital currency trading platform.

KuBitX BUSINESS MODEL
The KuBitX business model consists of revenue streams coming from commissions on market trading and management fee. This section will detail how the revenue stream and KuBitcoin (KBX) tokens have been integrated into the system, giving an idea as to how the KuBitcoin (KBX) token holders will be rewarded.

1. 25 % discount on using the KuBitcoin (KBX) token – KuBitcoin (KBX) tokens have the utility of acting as a method of payment for the trading fee. Plus, the users opting to use KuBitcoin (KBX) tokens as a method of payment of the trading fee will get a discount of 25% compared to the original trading charges. If the trade receivable is NEO, we will calculate it by the exchange ratio of NEO to KBX at the market price, which is based on the market price of NEO / BTC and KBX / BTC. Exchange ratio of NEO/KBX = NEO/BTC [market price] / (KBX/BTC [market price]). KuBitX update cycle for the market price is 1 second Suppose user needs to buy 1 Bitcoin


2. Payment processing fee - KuBitX will offer direct withdrawal to the bank account of a user requesting liquidity in fiat by enabling them to exchange KuBitcoin (KBX) tokens for Fiat on the levy of a Payment Processing fee of 2.5%.

HOW KUBITX WILL BENEFIT YOU?

HIGH SCALABILITY
Our platform is highly scalable, ready to accept new features to improve our users trading experience.

SECURE
We have made an extensive benchmarking with the current platforms, which allowed us to take few steps ahead, plus our security team comes from top organisations.

BLOCKCHAIN
Our token is initially based on the Ethereum blockchain. We plan to launch our own chain in the near future which will then be very useful to many cases such as the most common social, utility, administration, and governance problems in developing countries.

ECOSYSTEM
As strong believers in peer to peer payment ecosystems, we believe that traditional financial systems will eventually be replaced partly due to continuous broken trust, censorship and a growing enlightenment of the populace.

LOW FEES
Our fees are the lowest around, it is even lower when you choose to use our native token the KBX for fees payment. Trading fee on KuBitX exchange is 0.05%, however, the users opting to use KuBitcoin(KBX) tokens as a method of payment of trading fee will get a discount of 25% compared to the original trading charges. - Trading fee = 0.05% - Trading fee using KBX token= 0.0375%

MINIMIZED RISK
Our multi-signature wallet and cold storage strategy will minimize the exposure of our trader’s funds. We have combined various strategies to secure the funds traded on our platform.

TOKENOMICS
KuBitX will issue a fixed supply of 500,000,000 KuBitcoin (KBX) tokens which are based on the ERC-20 standard. The reasons for choosing ERC-20 tokens are the present familiarity of the market with this standard plus the stability of Ethereum Blockchain.





So join now and invest at https://www.kubitx.io/


MORE INFORMATION  :

Authorized By:

My Bitcointalk account : jagadlangit

My ETH address : 0xA2BFa48A6AfEFaBF498B6541f609E6cef4700D91

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