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CoinCola trading platform review

02/10/2018 10:00
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CoinCola trading platform

Unstable economic situation and lack of sureness about future living in the country urge Venezuelans to turn their attention to new modern technologies and internationally adopted practices related to investment in digital currencies and getting profit from it. Cryptocurrency trading platforms like CoinCola are providing an easy way to buy bitcoin as well other altcoins.

Such attention to modern technologies in the third-world country is mainly related to the dropdown of prices for oils which has been the main source of income for most citizens in Venezuela and the basis of the country economy. A significant decrease of oil prices and country currency five zeroes inflation has prompted government officials to put a lot of restrictions on the exchange and purchase of foreign currencies.

Of course, such restrictions make the negative impact on business conducting by making all privately owned and international companies working under Venezuela legislation to look for alternate options of money saving and operational costs decrease. One of such options has become ElPetro cryptocurrency created on the intention of Nicolas Maduro Venezuelan president. But a lot of casual people and crypto experts became skeptical about this cryptocurrency and highlighting various drawbacks of its usage for economical purposes and countering the country economy crisis. Due to the fact that such skepticism has been nourished by various informational hooks about these cryptocurrency technical aspects like the fact of its platform functioning either ERC20 (Ethereum) or NEM, the reputation of Nikolas Manduro, who is considered to be quite a controversial politician. Such lack of trust to Venezuela leader crypto product has made the citizens of Venezuela start searching for various crypto stock exchanges having good international approval and dealing with more popular and stable cryptocurrencies like BTC and others.

About CoinCola

CoinCola is OTC platform which deals with digital assets management has all chances to become such crypto stock exchange. This platform has been incorporated by CoinCola Limited company, headquartered in Hong Kong, which main mission lies at the provision of convenient and secure services to people around the world and building the internationally accepted platform for global trading. The CoinCola platform created by this company allows people to use their local currency to buy and sell Bitcoin, Ethereum, Bitcoin Cash, Litecoin, Tether, Dash. as well as other altcoins. The platform enables customers to reply to the trading advertisement and direct online trades. Obtained Bitcoins are being stored at platform built-in wallet, which allows people to use world number one crypto for the payment of various products and services online from any part of the world.
The company believes that the usage of widely popular and widespread cryptocurrencies might help the citizens and companies operating in Venezuela to enter international market and use all benefits of modern world like digital technologies and get more options for using popular cryptocurrencies like BTC, ETH, DASH and others by thus avoiding the necessity to rely on El Petro and Bolivar.

CoinCola and Venezuelan economy revival

The usage of such platform might help this country citizens to integrate into the worldwide community and overcome difficulties arising out of legislation restrictions imposed by government officials in form of various exchange rates for foreign currency making to lose the significant amount of money for transaction fees and exchanges difference.
CoinCola is doing its best to study various aspects of Venezuela economic and social situation to make its presence to be the most profitable for Venezuelans private persons and companies who are forced to live in the surrounding of various restrictions which impede country’s full integration into international society. Such study will cover various aspects like the condition of Venezuelan cryptocurrency market status and amount of overall Bitcoin transactions in Venezuela. This aspect will become useful for local traders dealing with cryptocurrencies and its studies by CoinCola might help to settle mutually profitable partnership of CoinCola and local traders, who might advise as well on how to improve OTC platform services for “El Petro country” segment.
The ways of crypto usage for casual citizens, medium and small-scale entrepreneurs in Venezuela is another important aspect of company research due to the following reasons:

  • The necessity to bypass legislation restrictions related to Bolivar exchange into foreign currency
  • The necessity to save on transaction fees offered by other crypto platforms and fiat money platforms when sending and receiving funds
  • Possibility to buy food and other commodities at the fixed price, as a lot of local stores and private sellers of various products can change products prices almost every day taking into account the level of inflation.
  • Possibility for medium and small-scale entrepreneurs to save profit from inflation paces, save and develop their businesses and bring them to the new level
  • Possibility to buy internationally accepted products and services without overpaying significant sums in fiat money
  • Option to have fixed income for employees as the salary paid on one day might turn into ‘nothing” the next day depending on the inflation.

Ways of this crypto platform usage

Let’s review in details how CoinCola platform can help Venezuelans to access internationally accepted benefits. Speaking about the necessity to bypass legislation restrictions the partnership with CoinCola might be profitable for private persons, various level companies, who constantly deal with foreign funds sending and receipt. CoinCola will conduct the profound studies of all the issues such people and entities run into when performing such actions. Such studies will become possible due to the fact that CoinCola will open its office in Venezuela to have the possibility to conduct the situation onsite assessment.
Other aspects are partially connected with the one we have stipulated above and deal with the main issue of how to save funds on the conditions of country’s constantly growing inflation. CoinCola platform will take all these aspects into account and develop the appropriate services package which will be mutually profitable both for Venezuelans and the platform.

Partnership with DASH and common views on cryptocurrency development in Venezuela

CoinCola is not the one who want to help Venezuelans to overcome the economic crisis and inflation. Dash cryptocurrency shares this point of view as well. That is why it has become the most popular cryptocurrency in the country and mode of payment in various stores, companies and between private persons. If to judge by news feeds and informational hooks it stays in the second place after Bitcoin based on the number of transactions. This crypto is accepted in around 400 companies ranging from various grocery stores, restaurants to local departments of various well-known worldwide brands. Such popularity of Dash has prompted Dash Treasury DAO to provide financing for Venezuela entrepreneurs in order to help them to overcome the economic crisis and prompt country economy future raising.
Aiming to build long-term and fruitful cooperation in Venezuela CoinCola will allow Dash trading at stock exchange with no extra fee. Such promo is for a limited time only. Usually, the trading fee makes 0,7% of the deal amount.

CoinCola advantages over other platforms

The company main mission is to build trustful and transparent ecosystem helping casual citizens to use all benefits of digital technologies. CoinCola is both shop and integrated platform offering peer-to-peer OTC trading possibilities enabling to buy fiat and digital money together with the option of crypto-to-crypto exchanges and trading. The platform principal advantage over other competitors is that it offers both OTC trading and crypto-to-crypto trading, while others provide OTC options only.
Another advantage is the presence of several cryptocurrencies for usage and trading, while others only BTC. CoinCola understands other cryptos popularity in the country and the intention of companies and citizens to use them for the payment of internationally accepted products and services.

Other benefits and pros of CoinCola for Venezuelan users

CoinCola promotional launch offer: 0.5% OTC transaction fee until October 31st, 2018 for all CoinCola traders outside of China. Normal rate will remain 0.7% for CoinCola traders in China. These fees are lower than the one of CoinCola competitors, which charge 1% for OTC trade.
The commission for coin-to-coin trading makes 0,2% from transaction amount. The rate is the same for all crypto exchanges without any promotional options and discounts.
In frames of promotion and taking into account Dash popularity in Venezuela CoinCola will charge no fees for Dash trading until October 31, 2018. Moreover, traders in Venezuela can participate in the referral program. Just to set an example if the person you have invited makes OTC trade transaction for 1BTC you can earn half of the trading fee. If in numbers,
0.25% of 1BTC trading fee makes 0.0025BTC.
Moreover, CoinCola provides rather low fees on the trading via mobile applications if to compare with other crypto exchanges.

Conclusions

Generally speaking, this platform has all the chances to become the number one platform for Venezuelan companies and private persons aiming to get access to all modern technological options, products, and services. The chances are high due to the numerous cryptocurrencies presented in the list for trading, various range of services and low commission fees for transactions completion. At the same time, the presence and operation of such cryptocurrency platform in the country with so many restrictions on fiat money exchange and inflation level might turn Venezuela government officials to review their monetary policy and make it more convenient for companies and private users. This in its turn might bring Venezuela to new development level and get maximum profit from the resources this country provides and turn it into Latin America prosperous sector.

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