Cointal takes a new approach to the world of cryptocurrency exchanges by cutting out the middleman and offering a peer-to-peer marketplace. In fact, the approach is so new that this is the very first peer-to-peer Ethereum and Ripple marketplace. The name “Cointal” is a shortened form of Coin Portal, a logical name for a platform of this sort.
The main goal of Cointal is to make it easy to buy and sell cryptocurrencies from other users with an incredible range of payment options. At the moment, trading options include Bitcoin, Ethereum, Litecoin, Ripple, and Bitcoin Cash, with additional cryptocurrencies to be added in the near future.
What Issues of Other Exchanges Does Cointal Improve Upon?
- 1 What Issues of Other Exchanges Does Cointal Improve Upon?
- 2 What Are Some Key Features of Cointal?
- 3 How Does Cointal Work?
- 4 How Does Cointal Maintain Security?
- 5 What Is the Unity Program?
- 6 What Should You Know About the ICO?
- 7 Read the Whitepaper
- 8 What Else Is Planned for the Future?
- 9 Conclusion
- 10 Useful Links
The team members behind Cointal took a look at the various ways that users could trade cryptocurrency and noticed some issues. They found other platforms used tedious protocols and spent even more time with verifications that didn’t even improve security. The team also didn’t like the withdrawal and deposit limits imposed by other platforms or the high charges and fees. Cointal improves on all of this while adding a healthy dose of security and transparency.
Because Cointal is a peer-to-peer marketplace instead of a rigid cryptocurrency exchange, the platform has to follow less strict guidelines. This frees up resources to focus on what matters most to users. Therefore, Cointal can focus on security, delivering a quick platform, and developing new features that will help it stand out from the crowd, like the Unity Program.
What Are Some Key Features of Cointal?
To help it stand out from the other crypto exchanges, including peer-to-peer marketplaces, Cointal makes it possible to buy for free and enjoy quick transactions. In fact, you only need five minutes (or less) to buy Litecoin, Ripple, Ethereum, or Bitcoin. To make enough money to keep running, Cointal charges sellers a 1 percent fee, much less than other platforms and exchanges. The services are worldwide, and there is even free insurance to give you confidence in the safety of Cointal.
Users will also appreciate the fact that, unlike most similar platforms, Cointal offers 24/7 customer support via a live chat representative that is a real person. You also get support tickets and the choice of calling the support phone number, if you prefer. There is even an affiliate program where users can refer people and then earn a small amount from each transaction done by the person referred.
How Does Cointal Work?
Using Cointal is incredibly intuitive, even for those who don’t have much experience with cryptocurrency. Sellers will post coin offerings just like they would in a peer-to-peer fiat exchange. Buyers search the marketplace for the quantity and cryptocurrency they want to buy and find deals that match their query. Then, they can pay using a long list of options, such as their debit or credit card, PayPal, a bank transfer, or even Western Union. Both parties agree to the terms, and the payment is validated via a multi-signature escrow process on the chain.
To make Cointal truly accessible to everyone, it is supported on every major operating system and browser. Users can access Cointal via their smartphone, tablet, or desktop, using browsers like Safari, Chrome, and Firefox.
How Does Cointal Maintain Security?
The free insurance on every transaction already mentioned is just one way that Cointal protects users, preventing cyber-hacking. In addition, a third-party service monitors and regulates the portal. It authenticates every participant’s identity to protect stakeholders against things like fraud, spam, and phishing.
For users who want a secure wallet to store their cryptocurrencies, Cointal is partnering with BitGo, a cryptocurrency enablement leader. The wallet supports instant transactions and has a low fee of just 1 percent of each sale.
What Is the Unity Program?
The Unity Program will make it possible for users to sell and buy an incredible range of cryptocurrencies, such as Bitcoin Cash, Ripple, and IOTA. Best of all, this service makes it possible to do so with ACH bank transfers, PayPal, and credit cards, some of the payment methods mentioned above. With the Unity Program, Cointal should be able to dramatically increase its reach, getting new people interested in the world of cryptocurrency. It allows Cointal to eliminate spending limits and deliver instantaneous transactions.
What Should You Know About the ICO?
The Cointal ICO will be coming up in the near future. Although details are still limited, you can stay updated by keeping an eye on the website. The ICO will help provide Cointal with the funds it needs to keep running while maintaining such low fees. It will also pave the way for a future service that lets users pay with Cointal. Once launched, that service makes it possible to use the Cointal payment wallet at ecommerce stores and third-party developers. Essentially, users will be able to spend their currency however they want.
Read the Whitepaper
[pdf-embedder url=”https://blockonomi.com/wp-content/uploads/2018/01/Cointal-White-Paper.pdf” title=”Cointal White Paper”]
What Else Is Planned for the Future?
One of the biggest future goals of Cointal is expanding the number of cryptocurrencies available for trades on the platform. Eventually, team members hope to offer the ability to buy and sell each cryptocurrency. In the meantime, however, the existing list is being expanded with an additional 10 cryptocurrencies, following the already completed addition of Bitcoin Cash since the launch.
Cointal has already proven its worth, processing more than $15 million worth of transactions in two months as of late December 2017. With the imminent launch of the Unity Program, the reach will expand to those who are new to cryptocurrency and make it easier for those who already own crypto-assets to get more. We see great things in the future of Cointal. As the first peer-to-peer marketplace for currencies like Ethereum and Ripple and more currencies to come, Cointal is paving the way for the future. It also should be able to get ahead of other similar platforms that try to copy its structure in the future.