There are many cryptocurrencies on the market, and while the difference may be a useful point, the downside is that it can make it hard to keep track of one’s currencies and to trade them efficiently as well. One company has designed a trading platform for the exchanging of cryptocurrencies and their derivatives to overcome this vital challenge.
What is Coinut?
COIN Ultimate Trading (COINUT) is a complete exchange that enables trading in spots, futures, options, and binary options on a single platform. Its Founder and CEO Xinxi Wang began the exchange back in 2013, and it has been operating securely so far with no major hacks. All cryptocurrencies are collected offline, and withdrawals are reviewed and processed semi-manually. Moreover, in 2017 Coinut started an Insurance fund to defend against losses and an API service with both REST and WebSocket prepared. Its website is accessible in English and Russian.
The company owning the trading platform, Coinut Pte. Ltd., is incorporated and registered in Singapore, a country that is recognized “ICO Haven.” The city-state and has comparatively liberal access to cryptocurrencies and crypto-exchanges, although the the Monetary Authority of Singapore (MAS) announced its proposals to support in advance digital tokens that constitute securities before their ICO and to control cryptocurrency exchanges.
COINUT uses a superior matching engine that can manage 2.6 million orders per second, which is amongst the quickest of all cryptocurrency exchanges that include Binance. The company’s backend operation was written in C/C++ preferably of the more accepted but slower scripting languages like NodeJS or PHP. According to Mr. Wang, their restrictive technology is not based on LMAX, which may have concerns in failure recovery.
Coinut Features and Benefits
With this three-year old platform and its latest successes, users will be capable of counting on the system for the steady and fast performance of their orders. Additionaly, the team behind the platform contributes an exceptional deal of information and direction to make the process as simple and secure as possible.
Here are the main benefits when utilizing the system:
This platform gives users the opportunity to perform extensive trading. The trading system highlights all of the trading possibilities that one needs to effectuate their trades in the most auspicious manner.
Second, this platform is highly stable. Those who use the system can be assured that all of the data they give to use the platform will be revealed to one. Besides, all withdrawals are checked and processed semi-manually.
A Fast System
Those who utilize this platform are bound to enjoy how quickly transactions can be done and how many of them can be effectuated as well. Based on the platform, the system processes millions of orders per second.
Finally, the system presents users with the capacity to perform fair trading. There is no market manipulation, orders go in first in first out the execution, and all of the processes are on the books as well. It means, there are accountability and clarity regarding the processes that take place.
Apparently, there are several benefits to utilizing this platform. The system provides the user with a significant deal of support when it comes to trading cryptocurrencies, futures, options, and binary options, all on a single website as well.
Trading instruments (cryptocurrencies)
Coinut currently highlights Bitcoin, Litecoin, Ethereum, Ethereum Classic, and USDT (USD Tether, a cryptocurrency, supported by real dollars). In case users would like to experience more altcoins, exchanges like Bittrex could be an option.
At this point, Coinut doesn’t back margin trading, which is not unusual, since most crypto exchanges do not permit this functionality. That being the case, if users wish to gear up trading, they may either select among some of the trades that provide leverage (Kraken, Poloniex, Bitfinex, etc.) or choose a forex broker instead. Lately, an increasing number of forex brokerages, like IG, HYCM, easyMarkets, Plus500, Swissquote, who are contributing CFDs on some of the most modern cryptocurrencies.
While many markets charge both market takers and market makers, Coinut employs only a 0.1% Taker expense, which is rather low, as the average trading charges are 0.20% – 0.25%. It makes Coinut rather contentious regarding trading fees.
Charging market takers more than market makers or not charging the end at all is a standard policy in the crypto world (Poloniex, Bitlish, and many others), as the “makers” are those who contribute liquidity to the exchange. Nevertheless, other exchanges, like the Singapore-based Wex, have initiated a different approach.
Coinut doesn’t support reserves of US dollars, Euros, Singapore dollars, Chinese Yuan or any other kind of fiat currencies, so most used payment systems like credit cards, bank wire, electronic payments like PayPal, are not possible with this crypto-exchange. But, users can use USDT, which can be obtained from other exchanges such as Bitfinex or Kraken.