Covex Platform – The Next Generation all In one Digital Trading Platform. Powering Data for the new equity blockchain.
CoVEX is a one stop trading platform for Cryptocurrency Exchange, Social Trading, Margin Trading & Lending, P2P Loan, Prepaid Card, Payment Gateway and ICO Underwriting services.
CoVEX smart contract is based on the next-generation ERC223, where traders can trade and exchange cryptocurrencies, copy trade skills and compete with each other’s trades within their investment groups. In other words, they are taking social/copy trading, margin trading, and payment gateways to a transparent, highly secure and reliable way. The CoVEX token—which will be implemented on Ethereum Blockchain under ERC223 standards—will act as a revenue-generating cryptocurrency. It will allow the token holders to receive revenue in the form of transaction fees.
CoVEX tokens will be available for interested participants during the ICO that is set to run from May 2018. During the ICO, the total volume of 250,000,000-25,000,000*23% CoVEX coins will be released to interested coin holders.
Ultimately, this platform will make trading accessible to everyone and improve the overall user experience. This platform will transform the foundation of crypto markets such as start ups, incumbents, traders, consumers, and merchants into a viable ecosystem that boosts mass adoption of cryptocurrencies.
Features & Services
Cross-border Crypto Currencies-Exchange Platform: Covex is creating opportunities for traders and investors to buy, sell and exchange their favorite cryptocurrencies at current and determined prices with low fees charge.
Social Trading Platform: The platform will allow users to set their funds and tokens to copy-trade form top traders, and top traders can share their trading experience with the new users which helps new investor to learn more about market. The platform is transparent and security will be enhanced, thereby giving users complete control of their trading funds and investments.
Cross-border Margin Trading: The platform will allow traders to borrow or lend tokens for margin trading.
CoVEX Payment Gateway: The payment gateway will allow our users to effortlessly trade between cryptos and fiat currencies in future such as the USD, GBP, and the EUR. In future, the wallet service will be complemented by prepaid cards or credit card which will let users quickly access their funds.
P2P Loan Service: CoVEX will be implementing a platform that allows lenders to issue loans to borrowers based on a selecting credit decision package. It will be specified by ML algorithms which scores the recommended fraud, identity and other credit rating agencies.
ICO Underwriting: CoVEX will provide complete package for new ICO starter helping them with smart contract code reviews, and legal compliance.
CoVEX assertive R & D team is developing a stable, secure platform. When CoVEX competes its’ development, it will be truly a one stop platform.
Inside CoVEX platform, traders not only exchange cryptocurrency but also share their ideas, copy trade skills and compete with others’ trades within the CoVEX network. We believe social aspect between traders, and sharing information is invaluable. CoVEX provide hybrid trading platform to traders with excellent trading tools, volatility alerts, market update, current news and the dedicated team of customer support.
The key highlights:
1. Financial Safety
2. Multiple Cryptocurrency Support
3. System Security
4. High Perfomance Engine
5. Unique facilities for learner to export
6. Financial Level Stability
7. Daily Bonus dividing between CoVEX Holders
8. Invitation Bonus
9. Copy trade
10. Provides 24/7 online customer services
Token Financial Details
Pre ICO Starts: 12th May 2018
Ends: 8th June 2018
Number of tokens: 3000000
1 ETH = 3000 CoVEX
1st ICO Starts: 7th July 2018
Ends: 3rd August 2018
Number of tokens: 81250000
1 ETH = 2000 CoVEX
2nd ICO Starts: 1st September 2018
Ends: 30th September 2018
Number of tokens: 81250000
1 ETH = 1000 CoVEX
Web presence & Social Media
Website: Click here
Official announcement: Click here
Twitter: Click here
Facebook: Click here
Telegram: Click here
Youtube: Click here
Medium: Click here
Reddit: Click here
Final Verdict of BestICO
BestICO has analyzed the project well from every possible aspects and we have rated the project based on the below factors,
Branding: (1 out of 1)
The branding of the project is very well done and very well thought. Website is nicely designed and the project details are very well mentioned. Whitepaper, token sale terms and Legal terms are integrated within the website which gives a detailed overview of the project and also the future plans are very well mentioned.
Office address & registration: (2 out of 2)
The company is registered in UK and the office address is mentioned as “International House,24 Holborn Viaduct, London, EC1A 2BN”. We have checked the company directory of UK and found it is a registered and legal entity in the name of “Covex Labs Technology Limited” registered on 7th March 2018. The company registration number is 11238645.
Working product: (0.5 out of 2)
A test version of the exchange is not yet available. As per the roadmap, the alpha version of the exchange will be available by the end of Q2, 2018. So as of now, we won’t be able to provide any marks on that. However, the ratings will be changed, once the test version of the platform is available online.
LinkedIn profiles: (0.6 out of 2)
Covex has a team of 7 members. However, we could verify only 4 LinkedIn profiles and out of these 4 profiles, we see only one profile has 500+ connections. However, a short bio of each member is available in their project website and can be accessed by clicking on each picture.
Business feasibility: (2 out of 2)
Covex is working to build a complete trading solutions for the crypto traders with many unique functionalities. They are aiming to provide Social Trading experience coupled with margin trading and p2p loan facility. A prepaid card facility will also be introduced in future to enable users to have complete control on their own funds.
Another unique offering of Covex Platform, is their ICO underwriting service. We have seen separate companies to offer such facility. But Covex Platform is aiming to provide this facility to the new ICO companies from their own platform. So the platform of Covex will be a multi-dimensional one which we have not seen before. However, a lot of things depend on the proper execution of such a big project.
The market is already overwhelmed with many crypto exchanges nowadays. However, the kind of functionality Covex Platform is aiming at, will be able to leave a mark in the market provided the execution is correct. We see immense business possibility in it upon proper marketing and execution.
Our rating: (0.9 out of 1)
Covex Platform is aiming to create a self sustaining eco-system for themselves as well as for the end consumers. In today’s dynamic world, no business can sustain on their own, so creating a self sustaining eco-system is the key challenge for long term profitability and sustenance. The vision and goal of Covex Platform looks great at this point of time. We will wait for the platform to release and we certainly hope it will be one-of-a-kind offering to the community.
After thorough research, BestICO decided to award a rating of 7 out of 10.