coinzoom ama
AMA

Coinzoom AMA Full Transcript

AMA (Ask Me Anything ) was conducted with Coinzoom on 26 March 2020 at 3:00 PM UTC live on our telegram group .

We were joined with Cofounder and director of business development at CoinZoom ,Ben Crosland.

Yes! Yes! Hello everyone! My name is Ben Crosland, I am the Cofounder and director of business development at CoinZoom. Todd Crosland is both Founder and Chief Executive Officer of CoinZoom and has operated in Financial Services, Investment Banking, and Venture Capital for over two decades.
Prior to CoinZoom Todd founded and acted as CEO of Interbank FX, LLC (“IBFX”), a Futures Commission Merchant and Retail Foreign Exchange Dealer registered with the U.S. Commodities Futures Trading Commission. IBFX grew into a global entity with offices around the world and over 250,000 customers in more than 140 countries. The company also generated annual trading volumes of over $750 billion making it a leader in the retail Forex trading services industry.
Todd also serves as the Chairman and Founder of Seed Equity Ventures, a registered broker-dealer with the Securities and Exchange Commission, and is a member of FINRA/SIPC. Seed Equity Ventures has over 12,000 registered investors, entrepreneurs, and members, from around the world, and Todd is also the Founder and General Partner of CoinZoom Ventures, a venture capital firm that invests in fintech and blockchain companies such as Mainframe. He has also received a number of awards including The Ernst and Young Entrepreneur of the Year Award and holds the following Securities Licenses: Series 7,24, and 63.
He is supported by a core team which includes the Vice President of Trade Operations Mark Osterloh, who also worked as the VP of Trade Operations at IBFX for over 14 years, while Chief Technology Officer Paxton Powers previously served as Chief Information Officer of IBFX.

About Coinzoom :

CoinZoom is next-generation digital currency trading platform aiming to provide both retail and institutional clients with a highly efficient trading experience that combines high level security and a variety of features that enable everyday ease of use. The exchange allows its users to buy, sell, and spend a range of digital assets with popular currencies such as Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and XRP being supported. Up to 30 digital currencies can be traded on the platform and CoinZoom also facilitates fiat to crypto trading and supports fiat deposits and withdrawals via both bank and credit card transfers.
The team behind the project have extensive experience in operating a global financial services company, and have focused on remaining regulatory compliant and CoinZoom Australia Pty Ltd. has been granted a Digital Currency Exchange License by AUSTRAC the governing regulator in Australia. In addition, CoinZoom Inc. is registered as a U.S. Money Services Business (MSB) in 50 states, and has been licensed as a Money Transmitter in over 45 States. The project is also expanding into Europe and its subsidiary CoinZoom Europe, Limited has been registered in Ireland.
Strong relationships with multiple US banks allow for funds to be held in FDIC insured accounts, and the team also make use of multi-layer security protections including cold storage, and multi-factor authentication and authorization. Retail clients are also well served by features such as, comprehensive charts with over 100 technical indicators, IOS and Android mobile Apps and the CoinZoom Visa Debit Card.The issues surrounding current cryptocurrency trading platforms are well known and include an overall lack of stability as legislators continue to shape the regulations that govern the industry. As a result, a number of exchanges seek to avoid falling foul of regulators by sticking to providing crypto to crypto services and not supporting any fiat currency transfers. The team address these issues head on by applying for and securing a number of licenses which allow CoinZoom to support fiat currency transfers and remain regulatory compliant.
CoinZoom also aims to address issues related to poor security with a number of leading exchanges suffering significant hacks, and a lack of responsibility/transparency regarding users’ transactions and funds. High frequency traders also often face significant price discrepancies, extreme lag times, and even low liquidity when not trading on one of the most popular crypto exchanges. CoinZoom aims to provide a next generation trading platform with a responsive UI and order matching engine, alongside deep liquidity.
With regards to institutional clients, CoinZoom aims to focus on security and ensure asset protection by providing secure custody and control of users’ assets. In addition, the team aim to provide a trading service that suits the requirements of high frequency traders and incorporates fair and orderly markets with comprehensive high quality market data available to all users. Platform users can also look forward to efficient trade execution with orders being completed at the best available price, and deep levels of liquidity as a result of partnerships with institutional liquidity providers.

Community Questions:

Q. Zoom rewards starts when you have 10k zoom tokens. Are there special rewards for holding them an specific amount of time?

As time goes on, the demand for ZOOM will increase

Q. Coinzoom is the first in offer an p2p system like ZoomMe, how an instant transaction can be completly free? How this can be done?

Through our unique architecture and wallets system

Q. CoinZoom is already available on the AppStore for iOS users. What about Android users? Will CoinZoom be on the PlayStore very very very soon?

CoinZoom will be available for Android users in 4-6 weeks! 🙂

Q. Security plays major role while dealing with crypto Exchange. Does the assets on my CoinZoom account is secured by any insurance? Do I need KYC CoinZoom account and What are benefits of KYC?

Yes all users must go through full KYC to utilize our platform. Through us you get $100,000,000 worth of insurance on all your crypto assets deposited

Q. What factors did you consider when designing the ZOOM Network architecture in such a way that it would make ZOOM an integral and economically valuable part of the system?

ZOOM tokens allow our customers to get discounts on trading very easily compared to other exchanges. It allows you to be rewarded as being an earlier adopter and supporter of CoinZoom

Q. zoom run in ETH blockchain why? ETH have scalability issues.. in future do you have any plans to launch own blockchain ?

That may be true but there is a lot more ERC20 wallets out there than say NEO wallets. We will consider other chains in the future but for right now we want mass adoption. That’s why we chose ERC20

Q. What is the minimum in getting a CoinZoom visa card

Just sign up and fund your account then you will receive virtual Visa card if you are US resident

Q. In Short period of time CoinZoom has done really great Job & it is already competing with Big players like #Coinbase and #Gemini in U.S.
Coinbase has also rolled out its Visa card program, How Coinzoom’s Program is better than others?

We charge .26% per card swipe. Coinbase charges 2.5% per swipe!💀

Q. From your point of view, What’s your outlook on the future of cryptocurrencies (especially $ZOOM)? What can we do to keep increasing adoption? Will your platform add feature like lending,futures,staking etc?

CoinZoom will be apart of mass adoption of crypto. The CoinZoom Visa card can be used at 53 million locations around the world. With the Visa card you can spend your crypto at anyone one of these locations

Q. Does your card offer me the option to select which type of cryptocurrency I want to use with CoinZoom Visa?

Yes before you swipe the card you preselect which crypto you would like to use

Q. Is your team the best?Do you have any blockchain engineers on the team or have plans to add additional?

We are the best! We have a team of engineers with years of experience in the Fintech arena.

Q. User Funds Security is very important. So, how safe is CoinZoom? Is it enough for users to feel believe and well protected assets and personal information?

The safety of clients funds is the main priority for CoinZoom. Cold storage Wallets are provided by BitGo, the leader in digital asset financial services. BitGo Custody carries $100,000,000.00 in insurance protections through a syndicate of underwriters through the Lloyd’s, the world’s specialist insurance and reinsurance market. And this premium service comes in at no additional cost (details can be found here)
The $100 million policy covers digital assets where the private keys are held 100% by BitGo in the event of:
• Third-party hacks, copying, or theft of private keys
• Insider theft or dishonest acts by BitGo employees or executives
• Loss of keys
CoinZoom has chosen BitGo as its custodian because BitGo provides 100% cold storage technology in bank-grade Class III vaults and the BitGo platform is SOC 2 Type 2 certified. Advanced authentication mechanisms are employed to ensure the authenticity of data, and assets are distributed geographically and organisationally.
It is the account holders’ responsibility to safeguard their accounts by means including but not limited to using a strong password, enabling two-factor authentication and controlling all login credentials to CoinZoom.

Q. Why Coinzoom only in US but not another country? What are the advantages of Coinzoom?

CoinZoom is available globally. It’s just the CoonZoom Vida cars that is only available in the US right now .

Q. What solutions does Coinzoom have for users to easily purchase cryptocurrencies by fiat?

The ability to deposit with a debit card .

Q. Your charges are very low compared to other exchanges, in your instant swap you charge nothing.. How sustainable is this to the ecosystem?

Do you have any other special funding from investors aside trading fees and other fees?

We have the lowest fees because we want traders the ability to execute quickly on our platform. We are the quickest way to buy, sell, and spend cryptocurrencies .

Q. As a TOP Exchange like COINZOOM,

How IMPORTANT is a BIT LICENSE?

Because Sir Ben Mention that as a Must, Even though you comply almost everything in 🇺🇸 USA regulations?

We are working on obtaining that license right now. That would put us in a very exclusive group of exchanges. Only two other exchanges have the Bit License.

Q. With ZOOMME, users could instantly transfer both fiat and crypto for free to anyone in the world, so CoinZoom will face to some bad activities like laundering money, arms trade through ZoomMe. How will solve this problem?

This is why we do full KYC on all customers 🙂

Q. What about Margin trading feature whether you will Launch the feature?

Yes margin trading coming in next 3 months .

Q. Is #Coinzoom easy for new users? What are the highlights that attract users of #Coinzoom?

Yes, anyone can download our app or sign up on desktop to buy and sell crypto very easily.

Q. CoinZoom intends to play a key role in the Latinamerica decentralized movement?

We recognize the demand for alternative currencies in Latin America. I myself have lived in Brazil for a few years. We want to be a catalyst of crypto adoption in South America .

Q. How Can Regular user like me participate on ZOOM STAKING program?
What’s the requirements?

Just need to sign up. I believe you already have! 😉

Q. Will the Coinzoom team launch the application or already have it?
and will coinzoom be traded with tokens other than btc / usdt?

We will have that ability very soon .

Q. Why is ZOOM token for on your platform? How to get can motivation to hold ZOOM token in the long term? How will you plan to dominate market?

Q. VISA CARD ISSUANCE to users is another reason for blockchain Mass Adoption to be a REALITY.

BUT,WHy does out of HUNDREDS of EXCHANGE PLATFORMs out there, only FEW made it?

That includes COINZOOM

That is because of our reputation and professionalism. Most exchanges are run by very young inexperienced teams. CoinZoom is by fintech veterans with decades of experience. It is because of this we’ve secured partnerships with VIsa and others and will help us dominate this market .

Q. Why is CoinZoom better than other platforms? How easy is it to use CoinZoom in your existing infrastructure?

CoinZoom offers more security, better liquidity, and more features than a minority of exchanges around the world. We are the only exchange besides Coinbase to offer a crypto Visa card .

Q. How safety is the fund that is going to be kept on #Coinzoom platform? What is the problem of #Coinzoom?

The safety of clients funds is the main priority for CoinZoom. Cold storage Wallets are provided by BitGo, the leader in digital asset financial services. BitGo Custody carries $100,000,000.00 in insurance protections through a syndicate of underwriters through the Lloyd’s, the world’s specialist insurance and reinsurance market. And this premium service comes in at no additional cost (details can be found here)
The $100 million policy covers digital assets where the private keys are held 100% by BitGo in the event of:
• Third-party hacks, copying, or theft of private keys
• Insider theft or dishonest acts by BitGo employees or executives
• Loss of keys
CoinZoom has chosen BitGo as its custodian because BitGo provides 100% cold storage technology in bank-grade Class III vaults and the BitGo platform is SOC 2 Type 2 certified. Advanced authentication mechanisms are employed to ensure the authenticity of data, and assets are distributed geographically and organisationally.
It is the account holders’ responsibility to safeguard their accounts by means including but not limited to using a strong password, enabling two-factor authentication and controlling all login credentials to CoinZoom.

Q. For increasing Black VIP memberships, we need to encourage many users purchase of ZOOM tokens and HODL, so what the key points of CoinZoom attract angel investors hold ZOOM token in long term?

As you know. Exchange tokens have done very well. We see the ZOOM token being comparable to BNB in terms of adoption .

Q. As I know crypto exchanges are very hard to build, and even harder to attract customers to use the exchange, what are your plans to build a strong community, hence, bring more volume to CoinZoom exchange?

Through connecting to various crypto communities around the world .

Q. I am curious about the true value of ZOOM token, Its roles and utility in throughout the CoinZoom ecosystem and when it’s listed on other exchanges such as Binance, Okex, Kucoin…?

Q. What your plans in place for global expansion, are you focusing on only market at this time? Or focus on building and developing or getting customers and users, or partnerships?

We are focusing on the global market. Our services are open for everyone. I he CoinZoom Visa card will be available worldwide soon 🚀

Q. What difficulties have been encountered during the development of #Coinzoom?

Getting all the proper licensing and registration has been very difficult especially in the US but we know that having a complaint exchange will bring trust to the customers of CoinZoom .

Q. Can you explain more details about P2P Tradisional and CoinZoom ?

I would love to. ZoomMe is a P2P money transfer service. Think of Venmo or WeChat pay but for free and cross border. Most payment remittance systems like these are limited geographically and have super high fees involved. With CoinZoom’s unique wallet system we allow our customers to send and receive fiat or crypto to anyone around the world for FREE. How it works? Upon signing up with us, you will create a username for ZoomMe. Once that username is created you can share it with your friends and family all over the world. I sent BCH to my friend in Brazil in milliseconds yesterday. ZoomMe transfers Crypto instantly! If I had sent it out of my BCH wallet to his BCH wallet it would have taken hours. This is the magic of ZoomMe 🎉.

Q. 98% funds are stored in cold wallet and only 2% in hot wallet.

Going forward with CoinZoom’s global expansion plans, don’t you think using only 2% for liquidity and in hot wallet will partially affect liquidity?

We have sophisticated wallet system where we’ll be able to attend all of customers needs with ease in this regard.

Q. How CoinZoom choose projects for listing? And what are the benefits these projects from listing with CoinZoom ? What is the main differences between CoinZoom and other platforms?

https://www.coinzoom.com/coin-listing/

Q. Is the there any staking rewards itself for the community?

Yes, staking ZOOM tokens will allow you to be apart of our VIP program. You will be able to get discounts on trading. 5% back on all purchases. Higher spending limits. And higher interest earned in staking .

Q. Sometimes, many traders choose a reputation of exchanges for trading instead of products, so how is your view about that and how to build up reputation for COINZOOM in future?

We have a great reputation just starting now. We have a partnership with Visa. You won’t see Binance or other exchanges getting those kinds of partnerships .

Q. What about Margin trading feature whether you will Launch the feature?

Margin trading will be on CoinZoom platform very soon .

Telegram IDs of AMA winners are given below :


@metamaskbet

@NickyJack1

@celllife

@steve_alive

@dustyllanos

@munrraxx2

@ShawnnaZuniga

@Misun1

@MigTyO

@DtKross

@ngoccam

Above users are required to dm @proplene (telegram user id ) with your erc20 deposit address .

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230 cr
230 Cr has been interested in the cryptocurrency since 2017 when his friend introduced him to bitcoin .Interested by the bitcoin technology and suffering from centralised banking system he then decided to pursue his career in this space .

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