CLOVERDEX; AIMED AT CHANGING THE FATE AND FACE OF CRYPTOCURRENCY MARKET.
As the world welcomes and embraces cryptocurrency (a digital asset designed to work as a medium of exchange that uses decentralized control as opposed to centralized electronic money and central banking systems) with the inception of Bitcoin in 2008, there are of course several challenges facing the adoption and everyday use of cryptocurrencies.
Some of the major challenges include:
1. Lack of accessibility of funds in the real world as current solutions to bridge traditional payment infrastructure and blockchain based assets are not seamless and involves high transaction fees either through upfront fees or currency conversion rates, both of which form a disincentive for use.
2. Lack of Usability as current exchanges involve too many steps and are tailored for advance users or assumes that the user has pre-existing knowledge.
3. Lack of Security as cryptocurrency exchanges have been susceptible to hacking and internal fraud because of lack in security focus and funding.
4. Low Liquidity as having not enough people trading on an exchange results in greater difficulty to trade, higher asset costs for investors, and difficulty in withdrawing funds.
5. Low Transparency as hidden trading fees and commission charged results in higher investor cost and lack of trust.
6. Inadequate Compliance as customers are hesitant to enter the cryptocurrency market due to perceived uncertainty in regulations and laws.
7. Lack of Education as most exchanges cater to advance traders and lack proper education and easy to use tools for beginner investors.
But what if I told you that all these challenges are already being met? What if I told you that plans are already in place to make this decentralized control system function effectively, effortlessly, less complex and efficiently? And yes these plans are being executed by CLOVERDEX.
WHATS IS CLOVERDEX
Cloverdex will provide a modular hybrid decentralised exchange and secure multi-currency wallet (implementing multi-signature technology) with strong focus on cryptocurrency market analysis and knowledge sharing, user accessibility and friendliness, social trading, and best practice regulatory and legal compliance .
Cloverdex product offering will consist of three elements:
1. An advance cryptocurrency trading platform which will allow quick and simple trading of many popular cryptocurrencies allowing trading to/from fiat and between different cryptocurrencies. The platform will focus on usability and user-friendliness, education and knowledge, and regulatory compliance.
The purpose of the cryptocurrency exchange is to allow trade between fiat currency and
blockchain based assets, and between different types of blockchain based assets. The
exchange will act as the broker between buyers and sellers and arrange transactions between
parties for a small transparent fee .
The exchange will offer a large number of cryptocurrencies and alternative coins (altcoins)
including but not limited to Bitcoin, Ethereum, XRP, Bitcoin Cash and more. As the platform matures and we begin integrating external exchange trades, users will have seamless access to hundreds more altcoins.
2. A secure multi-currency wallet which will allow users to store, access, and manage their cryptocurrencies in one single location. Users will no longer be required to track multiple wallets across multiple currencies.
The Cloverdex multi-currency wallet will allow a large number of different cryptocurrencies to
be stored and will employ a number of security features such as two-factor authentication and
multisignature (multisig) technology which will require at least two users (i.e. wallet owner and exchange) to sign a transaction before it can be broadcast onto the blockchain.
The main benefit of the multi-currency wallet application is to simplify the user experience in
storing and transacting cryptocurrency. No longer will a user be required to know the unique private keys of each individual cryptocurrency they own. One username and password will allow users to have full secure access to all their cryptocurrency funds .
3. An EFTPOS debit card which will allow users to seamlessly spend their cryptocurrencies (with the best available rates on the market) for day to day purchases across millions of EFTPOS terminals around the world and make online purchases. Instead of being limited to retailers that natively accept cryptocurrencies, users can now make purchases anywhere a normal debit card is accepted.
Cloverdex will provide an EFTPOS debit card that can be used at millions of EFTPOS terminals around the world (linked via Google Pay and Apple Pay) and for online purchases.
Unlike existing solutions that require the user to take multiple manual steps to convert cryptocurrency to fiat and transfer to debit card for use (i.e. preload/prepaid), Cloverdex’s solution in partnership with the payment processor will seamlessly convert cryptocurrency in the user’s wallet to fiat (at an attractive current prevailing market rate) at point of purchase. Users will be able to set per transaction limits and global weekly/monthly spending limits giving them complete control of their funds and how it is used.
All three of these elements combine to provide a unique platform offering forming a one stop shop for all cryptocurrency trading need.
MISSION AND PRODUCT OF CLOVERDEX
MISSION: Facilitate widespread acceptance and adoption of cryptocurrencies by making it easier and simpler for beginners and advance users to participate in the cryptocurrency market.
PRODUCT: The product will support this mission by offering a singular platform which will become the main hub for both beginner and advance users to trade, share knowledge, and increase day to day use of cryptocurrencies by becoming the bridge that links traditional payment systems and blockchain based assets/currencies.
FUNDING OF THE PROJECT
In order to fund this project, Cloverdex will create an Ethereum based cryptographic token (CLDX) which will allow holders to gain premium services/features such as discounted trading fees, access to advanced market analysis tools, early Beta access to the platform, increased trading limits, and more (to be announced).
PRESALE
Pre-sale of the Cloverdex tokens (CLDX) will launch in mid December 2018 for a limited group of contributors. Funding raised as part of the pre-sale will mainly fund initial start-up, marketing activities, negotiations with payments processor and recruitment of technical talent leading up to the public crowdsale. The public crowdsale will start in January 2019.
TIME TO INVEST?
You can agree with me beyond doubts that the solution to the challenges facing facing the adoption and everyday use of cryptocurrencies is here already with the CLOVERDEX platform. So why not take advantage, invest without hesitations and benefit from this cryptographic token (CLDX) that’s built on a secured, easy to use and beneficial platform.
Website link: http://www.cloverdex.io/
White paper link: https://cloverdex.io/wp-content/uploads/2018/12/WhitepaperFinalV1.2.pdf
Telegram link: https://t.me/cloverdex_community
Twitter link: https://twitter.com/cloverdex
Reddit link: https://www.reddit.com/user/cloverdex/
Medium link: https://medium.com/cloverdex
YouTube link: https://www.youtube.com/watch?v=GdgLXYX_2q0
Linkedin link: http://www.linkedin.com/company/cloverdex/
