The Coinzoom exchange wants to simplify P2P payments
The exchange, which is headquartered and regulated in the United States, says its purpose is to bridge the gap between FOREX, futures, stocks, and banking - and ensure that digital assets are available to institutional and retail investors worldwide.
CoinZoom claims to provide a platform that allows users to easily convert their fiats into the cryptocurrency of their choice, including Bitcoin (BTC), Bitcoin Cash (BCH), XRP, and Ether (ETH). A diverse range of local currencies are supported.
According to the information, the platform also offers competitive maker and taker fees of 0.20% and 0.26% respectively, and there are discounts for those who settle these costs using their ZOOM tokens.
BitGo has been selected as CoinZoom's institutionally qualified custodian and digital wallet security provider - and the company notes that this integration means all assets are insured up to $ 100 million by Lloyd's.
"Our priority is to keep our clients' funds safe," explains a blog post from November 2019. "If CoinZoom suffers from server damage, our insurance policy will cover all our customers' losses immediately."
The company added that 98% of customer funds are kept in cold wallets not connected to the internet and the remaining 2% in hot wallets to ensure liquidity.
Recognizing the strong competition that is visible across the industry, the CoinZoom team stressed: "The cryptocurrency exchange space is very crowded now. Our team knows what it takes to build a successful and legal exchange and stand above the rest."
CoinZoom notes that since its launch in March, it has created several important features - one of which is the branded Visa card that can be used to instantly convert cryptocurrencies to fiats.
Accepted by over 53 million retailers worldwide, the CoinZoom Visa card can be used for pin payments, contactless transactions and ATM withdrawals.