For most consumers, cryptocurrencies still lack enough transparency and hold a lot of doubts. But a US startup is trying to break the ice for new users.
For the everyday consumer, who is not a crypto enthusiast, the world of cryptocurrency is difficult to traverse and understand. Many of us have a hard time wrapping our heads around the notion that currency created on the internet can actually have real-life value and application in our day to day lives. Well, it really can, and does. Let’s look at one company in this space and the innovations they are executing to make cryptocurrency as viable to the general public as it is to investors and digital nomads.
Coin, a US-based FinTech startup founded by a 16-year Microsoft veteran, has announced the launch of its decentralized exchange intended to disrupt current cryptocurrency wallets and exchanges by providing mainstream consumers and crypto enthusiasts with the easiest and most secure way to manage their assets.
Put simply, this is a digital financial service that is not dependent on the traditional intermediaries. Unlike banks and other financial institutions that handle transactions and charge fees for their involvement, the only person who controls and can access funds is the actual account holder. How does Coin plan to do this?
Coin presents the Coin Exchange. This is an all-in-one cross-chain Peer-to-Peer (P2P) decentralized cryptocurrency wallet, exchange, and assistant- powered by atomic swaps and artificial intelligence (AI) technology.
Coin Exchange includes an integrated cryptocurrency wallet for users to store popular digital assets such as Bitcoin, Ethereum, ERC20 supported tokens, and more. For exchanging assets, Coin Exchange leverages atomic swap technology that has a built-in fail-safe which replaces the need for any third party involvement. This, in turn, ensures little to no fees as well as the most secure method of transferring value, as transactions occur directly between users and on the blockchain. This also makes Coin Exchange non-susceptible to hacks.
The Coin Exchange includes browser extension support for the Internet’s most popular web browsers such as Google Chrome and Safari. When installed, this feature extends its capability by using AI technology to execute transactions faster and provide insights to help users save time and money.
‘The Grammarly of crypto’
Similar to Grammarly’s grammar recognition, Coin Exchange includes an assistant that can recognize blockchain-related keywords from any webpage. This allows Coin to provide education, pricing information, or help consumers execute financial transactions directly from any webpage that has an input field. For example, users can send, receive and exchange transactions in a guided process or simply by typing text commands such as “Send $50 Bitcoin to @cryptojane” in any input field on the Internet. What is currently considered a complex task that requires navigating to a company website, can now be completed in a matter of seconds while browsing the web.
Unlike other solutions in the blockchain or banking industry today, the Coin Exchange brings a fresh innovative user experience to an industry filled with complexity and confusion. Coin Exchange creates a seamless, unified experience while browsing the Internet, to help bridge the gap and bring cryptocurrencies to the masses.
“By leveraging emerging technology, we are placing the power back into the hands of the people, and empowering consumers to manage their wealth with an innovative digital assets experience that is simple, secure, and personalized,” says Damon Nam, founder and CEO at Coin.
With the extensive support of its growing community, it looks like Coin can ensure alignment with the latest developments and the evolving needs of both mainstream consumers and crypto enthusiasts.