Koinex Loop - Features and comparison

in #crypto6 years ago

 

Koinex  is coming up with a new peer-to-peer platform Koinex Loop which is  going to be launched on 15 July i.e Tomorrow. Here is the latest tweet  regarding Loop:https://twitter.com/koinexindia/status/1017728030045851649Koinex  was the first in India to introduce Ethereum , Litecoin, Ripple and  Bitcoin Cash along with a open order book exchange in the times where  other exchanges looted people by keeping a huge buy and sell difference  in BTC prices. Recently Wazirx has launched their P2P platform. I used  it and it doesn't work so well. It allows you to only buy and sell USDT  using INR and the prices are fixed by Wazirx. Also they don't work like  localbitcoins meaning they don't allow you to place a advertisement for  buying or selling at your price. They ask you the amount you want to  buy/sell and then they do internal order matching to complete the order.  I have tried it and none of my orders got executed till now. First  trade cannot be made for more than 16 Tether. None of my orders got  executed. They tried to find the seller for 1-2 hours after that i had  to cancel it manually. Here's how it looks on Wazirx.
Wazirx P2P: All the orders had to be manually cancelled and not a single one was executed successfully.Coming  to Loop, it will allow you to buy/sell BTC/ETH/XRP using INR. The  Koinex wallet will be fully integrated with Loop, forming a closed  ecosystem. Users will be able to buy and sell digital assets using INR  through Loop on a peer-driven network with direct transactions occurring  between two users (without any banking interface with the exchange).  Users will then be able to see the same effective balance on Koinex  also, which will allow them to trade seamlessly in Crypto/Crypto  corridors on Koinex. They won't be having internal order matching. Few  of the features of Loop that are highlighted are: KYC verified users for  increased trust, A technology enabled dispute resolution mechanism and  integrated Koinex wallets for seamless Crypto to Crypto trading on  Koinex. Apart from it, Loop will have zero network and transaction fees.  The team behind Koinex is really talented and they have delivered solid  products in the past. All that said, i am really excited for Koinex  Loop and eagerly waiting for tomorrow to get my hands on the platform  and buy some cryptos.

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Coins mentioned in post:

CoinPrice (USD)📈 24h📉 7d
BTCBitcoin6288.910$0.77%-7.93%
ETHEthereum438.285$0.93%-11.13%
LTCLitecoin77.251$0.62%-9.35%
USDTTether1.001$-0.1%-0.51%
XRPXRP0.440$0.4%-10.35%