Could MyOS be the next big crypto exchange?
I know what you’re thinking — not another up-and-coming cryptocurrency?! I hear you, but bear with me. Pitching itself as having a strong focus “on user-friendliness and building a sustainable crypto asset economy”, MyOS could just be a worthy and welcome platform to enter the crypto market.
As MyOS themselves point out, the boom in the buying, selling and storing of digital assets hasn’t led to currencies and marketplaces making it any easier. This is what MyOS are taking target at — focusing on providing liquidity, security, transparency and a better user-experience. Ultimately? These guys plan on becoming pivotal in making crypto mainstream and adopted by the masses.
Now you may think that you’ve heard all of this before, and you’d be right — after all, many cryptocurrencies claim to offer user-friendliness, yet few truly manage it. As we’ll dig into, this exchange isn’t just going in for ease of use, they’re opting for learning through community — think of it as a crypto/social media hybrid.
Newbies and even novices are often intimidated by the complexity of trading and using crypto, so the features we’ll talk about in the coming sections should be warmly welcomed.
As for the kicker, well that would be an exchange that shares its fees with its users.
MyOS token — a spendable utility token with a wide range of applications
Loyalty. In a word, that’s what MyOS are focusing on when it comes to growing their user base. They’ll do this by rewarding long-term active users with a token structure that allows them to earn from distributed trading fees and community rewards. They’ve even put concrete figures to this promise, stating that:
“All fees will be distributed for the first three years of operation, followed by a 50–50 split between MyOS and its tokenholders in years three and four.
MyOS will operate an Ethereum-based cryptographic wallet and token, MYOS,
through which 100% of the transaction fees generated on the platforms will be shared equally amongst token-holders for three years”.
Notably MyOS are also targeting businesses with a dedicated service. To be known as ‘MyOS Black’ this will be available to businesses that hold a certain level of MYOS in their secure mobile wallet.
Snapshot of MYOS Token…
o Payment method for all available platform services.
o Users earn from distributed trading fees and community rewards.
o Access advanced community trading tools such as automated (AI) strategies, social trading where users can mirror/consensus trade and invest into other successful traders’ crypto pools.
o Access the community fantasy portfolio management game.
o Access premium plugins such as iMyOS Advanced tools and MyOS Black (business) features such as Time Stamped Invoicing.
Enhanced Account Security
A cryptocurrency utopia would balance the robustness of centralized systems with the security of decentralized storage. Which is right about where MyOS pitch themselves.
Allowing users to own their crypto assets, this removes the risk of hacking, and an entire user base losing their funds.
Meet the Team…
The MyOS team consist of five full-time members and three advisors — spanning alternative investment, currency trading and emerging technologies such as Blockchain (peace of mind that the team behind this crypto aren’t simply savvy entrepreneurs). As for cyber security, this will be a role for a dedicated advisor.
Snapshot of MyOS Security…
o Encrypted email, IP and location smart monitoring
o Customizable limits and timeframes.
o Connection to a secured MyOS Mobile wallet — allowing users to store their assets off the exchange and to accept deposits of MYOS tokens.
o Integration of multiple cold wallets
Demo/Paper Trading Account System
Want to try before you buy? The Demo/Paper Trading Account System will allow you to do just that — with a risk-free 30-day demo. This will work exactly as it would in real-world trading, only with a fictional balance. This can really help newbies get to grips with crypto — testing strategies, products, order types and so on and so on.
Live Derivatives Trading & Portfolio Account
MyOS will hand more experienced traders plenty of tools to up their game, including advanced tools and real-time metrics to provide a deeper knowledge and understanding of trading — helping them streamline their processes.
o Trade cryptocurrency Futures, Options and Binaries all on a single platform.
o Engage in options trading: portfolio management, market data analysis and trading executions.
o Integration with multiple cryptocurrency exchanges makes it effortless to monitor and manage your
o Cryptocurrency portfolio balance, wherever those assets exist.
o Integration of multiple trading pairs to create a platform that enables users to diversify and spread their assets.
o Users can vote on which new cryptos are to be listed.
Community & social trading
It’s tough for newbies to break into crypto trading. The existing platforms out there are complicated (to say the least). They are plagued by counter-intuitive usability, transparency and guidance.
Of course, there’s always Coinbase, but this platform practically holds a monopoly in the crypto world — a position that results in big fees. The crypto community are badly in need of an easy-to-use alternative. Could MyOS be it? They’re certainly making all of the right noises, as the platform will allow users to learn from experienced traders — providing a list of available traders, their approach to risk, and the option to either follow or copy their trades. Once educated, users will be able to earn through tokens awarded when fellow members follow them.
Gamification also provides for a fascinating feature of MyOS (something not currently offered by any other crypto). The so-called MyOS Fantasy Portfolio Manager, a type of fantasy football style competition, will pit users against one another as they attempt to put together the highest total return from a fantasy portfolio of 25 cryptos. For an entrance fee, they’ll gain access to a huge prize pool. Just check out their figures below…
1st place: $1m winnings (to be paid in the winner’s chosen crypto)
2nd place — $500k
3rd place: $250k
4th — 10th place: $100k
*Fund of $5M to be managed by the top ten traders.
i-MyOS Messenger & Chat
Ever wanted to monitor and rapidly react to price charts, orders and market news? i-MyOS is the answer. This planned dash for MyOS isn’t just user-friendly, it’s seriously informative — providing real-time crypto news and events fed straight from Telegram, WhatsApp and FB Messenger.
Here are the official details, as released in the MyOS whitepaper:
o Monitor your assets with advanced alerts, set and receive real-time notifications via SMS, e-mail or receive
o push notifications on your mobile device and browser.
o MyOS Black (Business) wallet holders benefit from advanced iMyOS, dedicated live support and instant
o payment notifications, including the option to send time stamped invoices.
Subscription community crypto pools
Now for more on the community vibe at MyOS. The iMyOS is going to allow users to form crypto pools, combining their funds for shared trades — allowing them to capitalize on larger size buys, better pricing and a crypto pool that is far more liquid than with traditional platforms.
Here’s the lowdown from MyOS…
o Can collectively make 1 x 1,000,000 MyOS trade (without the use of leverage).
o Subscriber pools will be bracketed according to the size of the weekly deposits required to remain an active member.
o Tier 1–100 MYOS up to 1000 MYOS
o Tier 2–5,000 MYOS up to 50,000 MYOS
o Tier 3–100,000 MYOS upwards
o Each pool is able to run a subscription content service and offer ways for creators to build relationships and provide exclusive experiences to their subscribers facilitated by the use of MYOS.
MyOS advertisement service
Given the community-focused structure of MyOS, the platform will offer a type of PPC — allowing businesses, groups and individuals to connect with user communities for a small fee.
Mobile trading application
The fluctuating nature of crypto means that users must always be connected if they’re to react to the latest falls and rises, so it makes sense that MyOS will be ready for on-the-go traders via Android.
Users of the app will be able to access many key features, such as trade reports, and portfolio and account information, all in a user-friendly interface.
MyOS is currently (as of Q2 2018) in alpha, with a crowdsale planned in September 2018 and MyOS version 1.0 full release scheduled for Q4 2018.
MyOS is still counting down to its crowdfunder, so there’s a lot to do between now and the planned first version release in the winter of 2018.
Yet despite this MyOS undoubtedly has an original approach with a lot to bring to the market, and users would be wise to keep their ear to the ground as to the latest MyOS developments.
Unproven platforms are always a risk — that’s the first fundamental of cryptocurrency trading. Yet we all know that it is in unproven platforms that the largest gains can be made.
If MyOS are as good as their word, and their features and platform reflect their vision, could they be the next technology to disrupt our way of life?