Mt. Gox used to be the top cryptocurrency exchange, a veritable giant of the nascent industry that commanded boundless trust from its customers. In August 2013, over 47% of all Bitcoin transactions were processed through Mt. Gox, but on April 15, 2014, it filed for bankruptcy after losing 850,000 Bitcoins. Did someone hack the exchange and take the money, or was it the company that scammed its users? We may get answers to these questions one day, but the money is lost forever.
The Mt. Gox story and the more recent Coincheck heist demonstrate that traders risk losing all their crypto assets when storing them on third-party accounts, which are vulnerable to external threats and unscrupulous top executives. To avoid getting into ruinous situations, traders should retain control over their money at all times, which is next to impossible within the cryptocurrency industry at the current stage of its infrastructure development.
SafeCrypt.io is developing a cryptocurrency trading platform using cascade encryption and other advanced security algorithms and a fail-proof design that will allow users to perform operations with digital currencies without entrusting them to the exchange. All assets are kept on users' hard drives and are never exposed to external shocks.
The SafeCrypt.io team expects to capture upto 9.6% of the crypto exchange market due to its competitive service fees (as low as 0.6%) and the enhanced level of anonymity for traders, who do not have to disclose their identities to perform transactions via the SafeCrypt.io platform.
SafeCrypt.io core features:
- Fast transactions: coins reach the recipient in less than 24 seconds
- Vast selection of crypto assets: 44 are already accepted, more to come
- Risk-free trading: users retain control over the assets
- High level of anonymity: use of advanced encryption methods to protect information
- Secure cloud environment temporarily storing transactions' metadata
SafeCrypt.io ICO details
SafeCrypt.io plans to carry out the crowdfunding in two stages. The public pre-sale round starts on March 26, while the main stage begins on April 2 and will be live for five weeks, or until May 7. Investors can purchase SFC tokens with 44 cryptocurrencies at the exchange rate of 1 ETH = 15000 SafeCrypt.io tokens + available bonuses. The exchange rates for other cryptocurrencies are based on fixed ETH to SFC exchange rate (1/15000). Early participants in either the pre-sale or the crowdsale are entitled to a bonus, and token holders will be eligible for dividends and can benefit from the project’s token repurchase strategy.
SFC is an ERC20 token that can be kept in any ETH compatible wallet. The project will issue 1.5 billion tokens, with 70% of the total supply to be distributed in the ICO.
If you seek more detailed information about the project, visit the official website or subscribe to its updates on Twitter and Telegram.
This article appeared first on Cryptovest
