ProBit, a cryptocurrency exchange, is set to be one of its kind as the platform’s trading services are backed by superior technology and noted for having an exceptional matching engine. The engine has the capacity to manage more than 1.5 million transactions per second, making it one of the fastest engine in the world. Additionally, the processing speed is fast, ensuring that the users have a solid advantage over the rest of the market.
ProBit aims to be one of the key cryptocurrency exchanges in all the major financial markets. They will be launching ProBit.com, a global Coin-to-Coin [C2C] exchange, which is set to be the main part of the upcoming Fiat-to-Coin [F2F] exchange. Notably, the upcoming exchange will be set-up in several countries.
The other important aspects that stand out with ProBit, are the features built into the exchange. This includes customizable dashboard, and multi-lingual customer services. This, in turn, results in the exchange creating a huge user base and also pooling in more liquidity for all the cryptocurrencies into the space. ProBit will also be launching marginal trading and ICO platforms in the future, after building the base of its operations.
Most importantly, the platform aims to provide the key important aspect, which is looked over by majority of digital assets exchanges, security. It will be offering customers a wide range of options for its users to secure their assets, and to ensure that the users feel safe to store and trade cryptocurrencies on the exchange.
Cryptocurrency exchanges are hailed to be the gateway into the cryptocurrency world. Ever since the Bitcoin boom in December 2017, the entire world has kept a tab on the new emerging market backed by technology. As cryptocurrencies became more and more mainstream, the demand for a trustable, secure and reliable cryptocurrency exchange increased in the space.
This is considered as one of the most important aspect in the crypto-community given that the stories of Mt. Gox continue to haunt the entire space. The exchange was once the biggest Bitcoin [BTC] exchange in the world that was the gateway for over 70% of Bitcoin transactions.
However, it soon tumbled to the ground as the exchange was compromised to a hack, resulting in a loss of over 7% of the customers funds. The customers who went through a massive loss are still struggling to get their funds back from the exchange, which has now shut down their services. This has prevented several investors from entering the cryptocurrency space and is also one of the key problems raised by several regulatory bodies.
Hence, choosing the right exchange that prioritizes security and customer support should be given the utmost importance by everybody involved in the cryptocurrency space. ProBit has stepped into the space with its eyes set on providing the security, trust and reliability expected by users.
To ensure this, the platform has three key security features. They are:
- Storing at least or more than 95% of cryptocurrencies in cold wallets/ cold storage
This refers to storing cryptocurrencies in an offline wallet. The wallet will not be connected to the internet, which, in turn, would ensure that there is no unauthorized access, hacks or vulnerabilities that are prone to occur when the devices are connected to the internet.
- Storage of data with the utilization of the strongest encryption algorithm
Encryption algorithm refers to encrypting data in a mathematical procedure. The data is transformed in to illogical cipher text and the only way it can be transformed back to its original structure is with the help of a key. Additionally, users’ private information and the private key of their wallet is also encrypted multiple times by the platform.
- Supports U2F security hardware key and software based two factor security authentication
Universal Second Factor [U2F] security key is a hardware authentication which allows users to access several online services with the use of a single security key. FIDO U2F hardware is one of the latest protocols which is supported by the exchange.
ProBit has also enabled 2FA security keys like Google Authenticator. This is a software authentication which uses one-time based password algorithm that is time constrained. It also used HMAC based one time password algorithm. This allows users to access the exchange platform safely, securely and quickly. Moreover, hackers will not be able to access the your accounts without the key.
Additionally, ProBit will implement extra security protocols for ProBit.com. This will include entire session management like monitoring for inactivity and initiate time-out sessions if required, and website security like using HTTPS [SSL]. They will also be ensure that the exchange is safe from attacks like DDoS, SQL injection and cross site scripting.
Apart from giving the utmost priority to security, ProBit also concentrates on providing one of the best trading experience to the users. The exchange will have a comprehensive interface which can be utilized by both professional traders and beginners. The platform will have a modular dashboard which enables complete customization, empowering the trader to set up their dashboard, based on their preference. The exchange ensures that the trader is provided with all the trading options such as Stop limit trades, Market trades and limit trades.
Unlike most of the centralized cryptocurrency exchanges that have only the USD and BTC as the base currency, ProBit has successfully broken through from the usual tradition. The exchange will support five cryptocurrencies as their base currency, including Bitcoin [BTC], Ethereum [ETH], EOS, Tether [USDT], and ProBit Token [PROB], the platform’s very own token. The platform will also add support for over 150 cryptocurrencies and numerous pairs.
PROB, a ERC20 token and a utility token, will be mainly used to pay trading and listing fees on the exchange platform. ProBit has set a limit of issuing only 200 million PROB. The token can also be utilized for several things such as:
- Avail discounts and for trading fees
ProBit will also introduce a membership that would follow a tier system for all its users. This would include “Standard” and “Premium” users. The tier system is structured on the basis on the number of PROB tokens held by the users, and will be modified on a daily basis.
The platform will be providing the Premium users with extra benefits such as:
- Voting rights for listing new tokens
- Increased referral bonus
- Early access to new features
Trading fees will be the main source of revenue for the platform. The exchange will offer users with a discount upto 50% for users choosing to pay the fees with PROB. Otherwise, the platform will charge a very low fees of 0.050%, which is their base rate.
Allocation of the tokens:
- 10% of the tokens are allocated for sale in several rounds before and at the launch. The tokens will be the released on through private sale, pre-sale and IEO.
- The tokens will be first released during the pre-sale and in order to participate, users will be required to register for a account at ProBit.
Trade mining, commonly known as Transaction, is a form of rebate wherein users mine the native currency by placing trades. ProBit exchange is one of the exchanges that supports Trade Mining, which will begin along with the launch of the exchange. The platform has allocated 50% of the tokens for Trade mining. PROB worth 80% if the trading fees which will be based on the market price of the PROB will be mined and distributed to the trader in the form of a reward.
Much to the users’ delight, they will be able to earn a reward through the platforms referral program as well. The referral program is an optional program meant to reward users who invited other users to trade at the ProBit platform. The referral bonus will be provided as a commission to the referrer [i.e., inviter] on the trades by referee [i.e., invitee]. For standard members, the referral bonus is 10% of the referee’s trading fee while for Premium members, the referral bonus is 20% of referee’s trading fee.
With the funds raised, ProBit will be strategically distributing them in 4 main departments, operations, legal and compliance, product development and marketing and brand. The division is as follows:
Additionally, the platform has also taken a step forward to ensure that they meet the standards of Know-Your-Customer [KYC] and Anti-Money Laundering [AML] in the markets it will be operating in. This is solely to prevent funding to terrorists and for illegal practices. ProBit will have multiple steps of verification, which will be correlated to users trading access on the platform.
The price of the ProBit token is expected to rise, leading to long-term sustainability and profitability for both the exchange & investors. To maximize your potential earnings, we advise you to grab the opportunity and invest on ProBit tokens as early as now!
PROB is currently holding a Pre-Sale event from November 5 to November 28 wherein ProBit tokens will be available for purchase at a 10% bonus to those who have completed the registration in the ProBit website.
Hurry up and participate in the pre-sale event by signing up on the portal. To try a demo of the interface, please visit the demo website. Please feel free to ask questions and leave your comments below!
Register an account on the official website
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ProBit Token [PROB] Pre-Sale:
ProBit is holding a Pre-Sale Event of ProBit Tokens [PROB] from November 5 to 28, Main Sale will be from November 30, 2018 to December 30, 2018. ProBit Tokens are available at a 10% bonus during this period. PROB tokens are never used for bounty and marketing services. 20% of ProBit Exchange profits will be used to buyback PROB tokens.
Purchase PROB tokens here!
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Tron [TRX] energy cost to be reduced from 20 sun to 10 sun
The whole cryptocurrency market has been witnessing a steep downward trend for the past couple of weeks. Even the major cryptocurrency like Bitcoin [BTC], Ethereum [ETH] and XRP, have lost the battle against the ice king. This negative trend has broken down most of the new projects in the market, especially the investors’ sentiments. There are also a few projects and team that are finding it hard to continue their operations because of the bear’s ever-growing presence.
Despite this, Tron [TRX], the tenth-largest cryptocurrency by market cap, continues to make advancements in terms of network development. Justin Sun, the founder and CEO of Tron Foundation presented the second proposal, Proposal 9, has been approved by 2/3rd of the governing body. The proposal is aimed at making the network a developer friendly environment by reducing the energy cost from 20 sun to 10 sun, which, in turn, reduces the cost of smart contact.
At the time of writing, the proposal had received 22 approvals and no disapprovals. The representatives who voted for the proposal includes Justin Sun Tron, Tron Society, BitGuild, Tron One, Lianjinshu, uTorrent, Crypto Guy in ZA, Infinity Stones, Alle Exchange, Tron Alliance, TronWalletMe, Raybo Tron, BitTorrent, Blockchain Org, CryptoChain, Sesameseed, callmeSR, DApp House, Tron Spark, TRX Market, Sky people, and Tron Europe.
The first proposal of the month was related to maximizing the energy limit of the network, which was also aimed at supporting the developers of the ecosystem. The proposal was approved by all 28 Super Representatives of the network. Super Representative are the representatives of the community and validators of the node who are elected by the token holders. These representatives are given the power to vote for the activation of the features of the Tron Virtual Machine, with the focus on the betterment of the entire community.
Earlier today, the CEO of the Foundation spoke about how Tron surpassed Stellar Lumens, the fourth largest cryptocurrency by market cap. He said on Twitter:
@CoinMarketCap, there are 159 trading pairs of #TRON which already surpassed 157 trading pairs of Stellar. #TRX was already listed on more than 100 exchanges, including Crypto/Crypto & Crypto/ Fiat trading pairs”
XRP/USD Technical Analysis: Sideways movement to end as breakout imminent
As the cryptocurrency market switches their allegiance between the bull and the bear, XRP is painted red at the moment. The token is slumped by more than a percent wherein the coin is trading at $0.3 with the market cap of $12.4 billion. The 24-hour trading volume is calculated at $305.8 million.
In the 1-hour price chart, the downtrend is ranging from $0.315 to $0.311 whereas the uptrend is extending from $0.301 to $0.308. A clear possibility of a trend breakout is visible as the prices are packed tightly, ready to explode in either direction.
The Parabolic SAR is bullish on the cryptocurrency as the dots have assembled themselves below the candles to support the bull.
The Aroon indicator is showing a greater strength in the downtrend, which is a bearish sign for XRP. However, it can be observed that the red trend is losing its power and crashing.
The Awesome Oscillator is slightly bullish on the coin as the bars have turned green at present.
In the 1-day timeline, the downtrend is stretching from $0.51 to $0.31 whereas the uptrend has been observed from $0.27 to $0.3. A trend breakout is not visible as of now.
The Klinger Oscillator has made a bullish crossover by the signal line. This indicates that the reading line is traveling in favor of a green trend.
The RSI is extremely bearish on the cryptocurrency as the indicator has crashed to the bottom of the graph. A trend reversal is not expected as well, as the reading has not hit the oversold zone.
In this technical analysis, it is clear that the indicators are giving a mixed sign, advocating for a sideways trend. However, since a trend breakout is predicted in the shorter timeframe, a bullish win might take over the price chart.
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