Coinzoom wants to simplify P2P payments
The exchange, which is headquartered and regulated in the United States, says its goal is to bridge the gap between FOREX, futures, equities and banking - and to ensure that digital assets are available to institutional and retail investors around the world.
CoinZoom claims to provide a platform that allows users to easily convert their fiat into the cryptocurrency of their choice, including Bitcoin (BTC), Bitcoin Cash (BCH), XRP, and Ether (ETH). A diverse range of local currencies is supported.
According to the information, the platform also offers competitive maker and taker fees of 0.20% and 0.26% respectively, and discounts are offered for those who settle these costs using their ZOOM tokens.
BitGo has been selected as CoinZoom's institutionally qualified trustee and digital wallet security provider - and the company notes that this integration means all assets are insured up to $100 million by Lloyd's.
“Our priority is to ensure the safety of client funds,” explains a November 2019 blog post. "If CoinZoom suffers from server damage, our insurance policy will cover all our customers' losses immediately."
The company added that 98% of customer funds are kept in cold wallets not connected to the internet and the remaining 2% in hot wallets to ensure liquidity.
Recognizing the fierce competition that is evident across the industry, the CoinZoom team highlighted: "The cryptocurrency exchange space is very crowded right now. Our team knows what it takes to create a successful and legitimate exchange and stand above the rest."
CoinZoom notes that since its launch in March, it has created several important features - and one of them is a branded Visa card that can be used to instantly convert cryptocurrencies to fiat.
Accepted by over 53 million merchants worldwide, the CoinZoom Visa card can be used for pin payments, contactless transactions, and ATM withdrawals.