CoinZoom is a U.S. based, regulated — institutional-grade digital currency trading platform. Before starting CoinZoom, our founder Todd Crosland founded the world-renowned Interbank FX forex firm. Interbank FX reached trading volume of over $80 Billion per month, while serving customers in over 140 countries. CoinZoom is registered as a money services business in all 50 states and territories, and is also a registered Money Transmitter and is available for U.S. customers in 46 US states, with additional states coming soon. CoinZoom is also registered as a Digital Currency Exchange with Australian regulators.
Our mission at CoinZoom is to bridge the gap between legacy FX, Futures, Stocks, and Banking to make digital assets available to both institutional and retail traders across the globe. Here’s how we’re doing it.
Fiat On-Ramp
CoinZoom is one of the few exchanges in the world which allows fiat on-ramping. This is currently one of the most significant issues in the crypto space. It is especially problematic in the United States as fiat-to-crypto transactions are all governed by the Financial Crimes Enforcement Network’s (FinCen) Money Transmission Laws. These laws have been specifically designed to curb money laundering.
There are very few exchanges that allow fiat on-ramping in the United States or globally. Using our platform, users will be able to buy cryptocurrencies such as Bitcoin, Bitcoin Cash, Ripple, and Ethereum, all with fiat.
To ensure the security of fiat currencies on our platform, we have taken the following security measures:
● For U.S. Customers: CoinZoom stores all customer fiat currency in custodial bank accounts. For U.S. residents, the CoinZoom USD Wallet is covered by FDIC insurance, up to a maximum of $250,000.
● For Non-U.S. Customers: For non-U.S. customers, their fiat currency is stored in separate custodial bank accounts. The funds held in those accounts would be returnable to CoinZoom’s customers.
Fee Structures
The trading fees start at the following rates:
- Maker fees: 0.20%.
- Taker Fees: 0.26%.
NOTE: If you pay your trading fees using the native ZOOM tokens, then you will receive up to a 50% Discount.
- Maker fees are paid when you add liquidity to our order book by placing a Limit order that is below the market if you are buying and above the market if you are selling. These are also paid when you add liquidity to our order book by placing a Stop order that is below the market if you are selling and above the market if you are buying.
- If you buy or sell using a market order, you will pay the taker fee because a market order immediately removes liquidity from the order book.
CoinZoom’s Visa Card
Our Visa card is a debit card that can be used to convert cryptocurrency into fiat, instantly. It can be spent at any retail location that accepts chip, contactless, or PIN payments from Visa. It can also be used to make ATM withdrawals.
One of our primary goals is global expansion and greater adoption. We believe that the CoinZoom VISA card is our first solid step towards this direction. Using the card, you will be able to spend your fiat and cryptocurrency at over 53 million merchants globally.
We also provide the following VIP levels — Preferred, Gold, Platinum, and Black. Your level will be dependent on how many ZOOM tokens you hold. Maker and Taker fees will also decrease as you move up the levels.
CoinZoom provides customers with instant Peer-to-Peer fiat and crypto money transfer. Customers can instantly send fiat to friends and family anywhere in the world using ZoomMe. Besides being instant and very simple to use, it’s also free for CoinZoom customers.
Digital Wallet and Currency Security
Digital Wallet Security
We chose BitGo as our institutional-qualified custodian and digital wallet security provider because of their incredible reputation. Another massive advantage of our BitGo integration is that all the assets held by them are insured for up to $100 million USD through Lloyd’s, the world’s leading insurance and reinsurance market.
Digital Currency Security
It is our priority to ensure the safety of customer funds. If CoinZoom suffers a breach of its online storage, our insurance policy will instantly cover all our customers’ losses. Also keep in mind that we will be storing 98% of our customer’s funds in cold storage. Only 2% will be held in hot wallets to provide liquidity.
The insurance policy will cover losses resulting from:
⦁ A breach through our physical security
⦁A breach through our cybersecurity
⦁ Employee theft
Regulation and Compliance
CoinZoom has a team that has decades of experience working in the institutional finance sector. As such, our core team already knows what it takes to run a company that is regulated. CoinZoom’s team has extensive experience in founding and running brokerage firms that are regulated by the SEC, Finra, CFTC, NFA, FinCEN, and ASIC in Australia. Our management team also has decades of legal and regulatory experience working with KYC, AML, OFAC, and FinCEN compliance checks on hundreds of thousands of customers from over 140 countries. See CoinZoom’s Licenses
Conclusion
The cryptocurrency exchange space is hugely crowded right now. Our team knows what it takes to run a successful and legally-compliant exchange to stand above the rest. Whether you trade on our institutional-grade desktop platform, or our IOS, or Android App, CoinZoom has a solution for everyone. With our CoinZoom VISA card, users will be able to experience the full benefits of trading on the platform, and using your balances in the real world.
