Sharing what you need to know about the Coin Chase network and CCH token
“The rich get richer, while the poor get poorer”. Sounds familiar? The problem of income inequality is due to a multitude of factors, with the existing financial system arguably a major factor in this problem.
Many financial institutions charge high transaction fees and high quality financial services are not accessible to the masses, as they target mostly high net-worth individuals. Financial services such as investing in promising companies are often not open to a retail investor if at all.
Initial Coin Offerings (ICOs) were initially thought to be a reliable gateway for the common man to invest in promising projects. However, there were more speculators than genuine investors, giving rise to scams and investors losing money in the process.
Coinchase aims to eliminate these problems by providing a Crypto community-based financial services network that provides accessibility and trust. Read more to discover how they aim to accomplish this.
The CCH solution
Coinchase offers a variety of financial services that can be accessed by the retail investor, such as investing, savings and loans.
Coinchase provides a simple all-in-one platform for the retail investor to find information and investment opportunities. The information includes ratings for different factors, such as the team, marketing, feasibility and the token of the project.
Company materials such as the project’s whitepaper and telegram group are available to the community on the platform, eliminating fake websites and provides convenient access to users. The Coinchase community will rate the project based on their analysis and provide comments that are open for everyone to see and make their judgement.
Savings And Loans
In addition to investments, Coinchase offers savings and loan services, as long as you hold CCH tokens or other prominent tokens such as Bitcoin and Ethers.
As of now you can take part in the ETH savings plan as well as the 30 days lock position plan of CCH, and receive interest income in ETH and CCH tokens. To make this more enticing, Coinchase charges 0% on transaction fees. You can find the annual percentage rates (APR) of each plan here.
For loans, you will receive loans in USDT by depositing a specific amount of either ETH and BTC as collateral, depending on your loan amount. By using cryptocurrency as collateral, global users can receive small loan amounts within a short period of time without the significant transaction fees which may prove to be signifcant for small loan amounts.
“Break and Return” Insurance
To protect investors from heavy losses, Coinchase has implemented the “break and return” policy. In most cases, there will be a huge sell-off of tokens after their first exchange listing. Under the “break and return” policy, if the price of a token falls below the public sale price on the day of the first exchange listing, users can choose to be refunded by Coinchase.
To be covered under this policy, users are required to be a CCH member. Membership fees are charged on a monthly basis, and you will need to have at least 30 days of membership left after purchasing a token for coverage to be valid. For more information on Coinchase member ship, please read their official announcement.
The CCH token is an ERC20 token, with a total supply of 10 billion tokens. CCH has a few utility, such as payment for membership fees, investment, loans and transaction fees. In addition, Coinchase is implementing both Proof-of-Usage (POU) and Proof-of-Stake (POS).
51% of CCH tokens are allocated to incentivise participation, and that is where POU comes into effect, whereby users who carry out effective activities such as investing, depositing and referrals will receive more CCH tokens. This will likely promote greater movement of the CCH token. Together with a reduced circulating supply with POS, the value of CCH will likely increase if all else remains constant.
In an industry rife with scams and speculators, Coinchase aims to provide a transparent platform with reviews from the community and through their “Break and Return” policy, they have shown tangible backing for projects they selected. These factors may prove to be crucial in tapping on the potential of Cryptocurrency to provide financial services to the masses.
Disclaimer: The above article is a brief overview of the Coinchase project and is in no way an endorsement of CCH from ABCC Exchange or financial advice in any form. Users are reminded to carry out their own due diligence and execute trades based on their research and risk tolerance.
Take Part In The CCH Challenge
CCH is now listed in ABCC Exchange, with CCH/ETH and CCH/USDT trading pairs available on the trading platform. To celebrate this listing, we are hosting a trading competition, with a total prize pool of 1,080,000 CCH to giveaway. For more details of the campaign, read here.
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