Ethereum trading platform Cryptolocator will get an international marketplace as early as this October, reports claim. The platform teams up trading partners and facilitates transactions with popular cryptocurrencies, setting ETH as its default cryptocurrecy.
Cryptolocator allows to select the most suitable and convenient for users payment methods and their price correlation, be it a bank transfer, digital money or cash.
The new marketplace is promised to grant users an access to a set of common features and mechanisms, new trading pairs and will also boast some service improvements. Moreover, the development team composed of highly qualified professionals in blockchain technologies and FinTech area is currently investigating the possibility of smart-contracts implementation.
The technical side will be assigned to a group of developers from Russia while the code review will be performed by an independent group of experts. A legal entity is registered with set and clear policies regarding the cryptocurrency market.
The launch of the project is funded according to the traditional approach – by venture capital only what indicates investors’ trust in the Ethereum trading marketplace and highlights the founders’ confidence in their product.
As it became known, the platform’s first users will trade with significantly discounted fees within six months after the launch. Which is more, most active users will join a benefit program on bictointalk.org.
P2p approach allows market participants to define the transaction terms. Fairplay will be ensured by the guarantor-service — the system which holds funds throughout the operation, instant support by a qualified team of the relevant specialists and the reputation system.
As far as the platform’s security is concerned, it should be mentioned that user data will be completely protected as the system will feature two-factor authentication. DDoS attacks will be prevented by the industry leader specialized in FinTech projects. Code audit was performed by an independent expert group.
The product’s creators assure that it will be delivered in several stages with the later updates such as mobile applications launch, new cryptocurrencies addings, the marketplace of things introduction and other features enthusiasts will like.