ChainRift opens up to US residents — Zero trading fees for early adopters!
About a month ago, we posted an article (ChainRift’s first 30-day journey) that started this series of “Behind the scenes” posts. The idea is still the same: we share our updates with you on a regular basis so that you can keep track of the main improvements that take place at ChainRift.
Our big news!
October 29, 2018 — ChainRift begins opening up its exchange platform to users in the USA! If you reside in one of the states on the following list, you can now be part of the ChainRift family!
- New Hampshire
- New Jersey
- North Dakota
- Rhode Island
- South Carolina
- South Dakota
- Washington D.C.
- West Virginia
“What took you so long?”
We might have lightheartedly joked in the past about redirecting our US aspiring users to the Canadian immigration website and make them fill out the Refugee application form. But in all seriousness, onboarding US residents isn’t something that can happen overnight. We knew from the beginning that the compliance issues were both expensive and time-consuming. It has remained one of our main goals and we’re proud to open up trading to so many states.
Challenges ChainRift faces in the US
Although we are a US-based exchange, registering in one state does not mean we’re registered to operate in all states. As we open up our trading platform, ChainRift is subjected to each state’s:
- regulatory body (or bodies), and
- ‘regulators’ interpretation of both federal & state laws and regulations.
This state by state evaluation represents a huge amount of researching, analyzing and assessing in order to ensure we’re complying with all the rules in each state we accept traders.
Our Compliance team has been putting lots and lots of hours but the good news is we’re confident that we’re complying with all the relevant regulation and legislation.
If you do not see your state of residence in the list yet, bear with us. The onboarding of US residents is an ongoing process and our goal is to open up to all of the US residents. Our team will continue working to get to every US state and get everyone on board!
One year of zero-fee trading for ChainRift’s early adopters
We want to thank our early users and reward them with something special, as well as celebrate the on-boarding of our US friends. All users who get verified at ChainRift by December 31, 2018 will enjoy a year of zero-fee trading (effective immediately until December 31, 2019).
Our team just deployed the Web Socket API and our liquidity should improve substantially as we onboard market makers over the next couple of weeks.
ChainRift will be first to bring to market some of the most exciting and promising projects in the crypto space over the next couple of months. Be sure to get ready to trade them as they come out!
Have a great week!