XP Investimentos, one of the largest independent brokers in Brazil, recently announced that they will be opening an exchange platform in the coming months for trading Bitcoin [BTC] and Ethereum [ETH].
XP Investimentos is an integral part of the XP Group that concentrate on several brands in the financial market and has recently joined the cryptocurrency industry, says Bloomberg reports.
At an event in Sao Paulo, Guilherme Benchimol, the CEO of XP Investimentos stated that almost 3 million Brazilians had exposure to Bitcoin [BTC] whereas only 600,000 individuals invested in the stock market. Benchimol was further ready to undertake the risk in pushing XP Investimentos into the cryptocurrency industry. He further added:
“I must confess, this is a theme I’d rather didn’t exist, but it does…… We felt obligated to start advancing in this market.”
XDEX is the new cryptocurrency exchange which will focus on working independently from the other brokerage businesses owned by XP Investimentos. Thiago Maffra, an experienced financial marketing official will be running the exchange. The new cryptocurrency exchange will have around 40 employees.
According to the report, XP Investimentos’ entry into the Over-the-Counter [OTC] Bitcoin space was a huge step. This could result in the biggest banks in Brazil being directly involved in the cryptocurrency market. Itau Unibanco Holding S.A, a financial institution has recently suggested buying a 49.9% stake in XP’s voting capital for 5.7 billion reais [$1.5 billion].
Benchimol further stated that XP Investimentos will also be opening a new bank in the next few months. The main agenda of the brokerage was to accumulate 1 trillion reais [$245 billion] by the end of 2020 which is four times more than what they expect to have by the year-end.
According to a recent post, Central Bank of Brazil and other regulators of the Brazilian Financial System announced that they will use a blockchain based technology platform to open the door for country’s financial regulators to exchange information. The blockchain technology platform, Information Integration Platform for Regulators [PIER] was developed by the Central Bank of Brazil’s Information Technology department and is reported to start operations by 2018.
If we look at the current situation of Cryptocurrency Exchanges, we see big names having only few cryptocurrencies to trade. They tend to choose only those coins from which they just earn the most. That often means cryptocurrencies with low hype rate and smaller communities can’t even try to trade their coins. And not only that they take a fee from the Developer Team to list their coins on the exchange, in addition to that, they want to receive high trading fee’s from the average person trading. With LionBit Exchange we simply change this.
Cryptocurrencies are predominantly obtained by purchasing it from cryptocurrency owners for fiat currency. Usually a digital currency exchange platform is used. Most of these exchanges allow cryptocurrencies to be purchased with fiat currency or other cryptocurrencies. Price quotations can significantly differ based on the platform used. Most countries lack cryptocurrency legislation. This means that cryptocurrency exchange platforms are not required to obtain money service licenses, and transactions with such exchanges are unregulated. Thus, trading platforms sometimes abuse the trust and confidence of their participants for profit. As this practice is lucrative, there is a surge in emergence of unfair trading platforms. However, there is defence against such platforms: decentralization. Exchanges should be made directly between interested parties without the use of intermediaries. At LionBit, we believe in decentralization of cryptocurrencies. People should be free to manage their finances without any interference of third parties.
PROBLEMS AND SOLUTIONS
There are too many many crypto exchanges out there, coinholders or investors have to register on many different exchanges to be able to trade different cryptocurrencies. Investors have often more than 3 accounts on different websites. This make trading harder and if a new coin comes live on an exchange on which they do not have an account, investors have to create another new account and learn how to use that trading platform. In addition to this, in some cases (especially when trading with fiat/crypto pairs), investors have to do a KYC verification which is often time-consuming and complicated, while you just want to trade on that exchange for a single coin you prefer. LionBit Exchange will offer you trading with almost all cryptocurrencies and you will not need to do any KYC verification processes to trade. You only need an properly secured account and funds to trade with.
HOW DO WE DIFFER FROM OUR COMPETITORS?
In contrast tо оur competitors, LionBit is the first P2P рlаtfоrm rеаdу to рrоtесt trаnѕасtiоnѕ with smart-contracts. Smart-contracts рrоvidе аdditiоnаl ѕесuritу tо thе cryptocurrency exchange process, in аdditiоn tо thе vеrifiсаtiоn оf users. Fair сrурtосurrеnсу рriсing is an intеgrаl раrt оf LiоnBit’ѕ ѕеrviсеѕ. Rates аrе саlсulаtеd in rеаl timе, аggrеgаting thе аvеrаgе wеightеd рriсе frоm major cryptocurrency exchanges. Thеrеfоrе, LionBit uѕеrѕ саn confidently аnd ѕесurеlу еxсhаngе cryptocurrencies аt fаir
mаrkеt vаluе. LiоnBit’ѕ ѕеrviсеѕ аllоw uѕеrѕ to enter thе wоrld оf сrурtосurrеnсу investments ѕеаmlеѕѕlу. We еxресt the mаjоritу of LionBit сuѕtоmеrѕ to be асtivе uѕеrѕ оf оnlinе payments ѕуѕtеmѕ. Althоugh thеѕе uѕеrѕ аrе gеnеrаllу familiar with on-line payment systems аnd cryptocurrencies, thеу require a highеr ѕtаndаrd fоr ѕесuritу thаn initial cryptocurrency еnthuѕiаѕtѕ. Aѕ thе сrурtосurrеnсу mаrkеtѕ еxраnd, platforms, such as LiоnBit аrе роiѕеd to ѕеrviсе the nеxt wаvе оf сrурtосurrеnсу users.
If you have any problem you go to the support section and you want to receive help. Unfortunately, the exchange on which you are used to do trading, offer only some e-mail ticket-based support, which start with automated replies and you have to wait days, sometimes months for proper solving of your issue. LionBit Exchange aims to become the number one exchange of the future with regard to professional support. This means, LionBit Exchange will integrate a real Live Support to its website to ensure that you
get prompt help around the clock, at any time of the day (or night). We will have two Live Support Teams and they will perform shift work day and night. So if you get a problem we will always be available and online.
We will issue our token coin, called LBXP. A strict limit of 1.5 Billion LBXP toklens will be created as a maximum supply, never to be increased. LBXP will run natively on the Experience Points blockchain, so every single LBXP transaction will be accounted and could be found in the XP blockchain.
A reward system will work during trading: a certain amount of LBXP will be refunded for those who trade LBXP in our exchange. For example, you traded 1000 LBXP (with one of the trading pairs involving LBXP) you will get back 2% of that amount. The system being developed is to financially encourage you to trade on the platform.
The trading rate using all crypto-coins will be 0.25%, while using LBXP markets, the rate will be 0.25%, with a discount of 0.10%. All markets will have LBXP token as well. Example: in markets like BTC, LTC, XP the rate will be 0.25%, but in the LBXP market it will be 0.15%.
Our business or trading key allows other users to send funds to any type of currency available. User‑to‑user transfers of any available currency are free and instantaneous, so they don’t require waiting for any confirmations. The business keys are given to the user accounts, therefore you can provide this key to anyone you wish.
LionBit Exchange will support
trading markets of the following coins:
The following crypto currency pairs are planned to be traded from the first day of the LionBit Exchange: