Cryptolocator, a global marketplace for Ethereum trading, has announced the launch of its trading platform in mid-October of this year.
The Cryptolocator platform brings together trading partners from around the world and facilitates transactions with popular cryptocurrencies. Unlike most trading platforms that focus on Bitcoin, Cryptolocator prioritizes Ethereum, setting ETH as its default cryptocurrency.
First users of Cryptolocator will be able to trade with significantly lower fees for the first 6 months after the project is launched. There will also be bounty program for active users held on BitcoinTalk.
Features and Security
Users of the platform will have access to all of the traditional features they have come to expect from traditional cryptocurrency marketplaces, as well as new trading pairs and extra service improvements.
As far as available payment methods, an assortment of fiat money exchange approaches is inherent to the platform. Cryptolocator enables users to decide on the most suitable payment methods and their price correlation, whether a bank transfer, electronic money or cash.
Thanks to Cryptolocator’s P2P approach, users have the ability to set their own transaction terms. Both buyer and seller are protected in several ways:
- guarantor service – the system holds funds throughout the transaction process
- 24/7 support by a qualified team of financial, legal and technical specialists
- user reputation system
In addition, all user data is protected and encrypted. Access security is provided by two-factor authentication (2FA). DDoS-protection is provided by an industry leader specialized in fintech projects and a thorough code audit was performed by an independent expert group.
Talent, Funding, and the Future
The talent behind Cryptolocator is comprised of an experienced team of programmers from Russia with expertise in fintech, blockchain, and smart-contracts. The development and launch of the Cryptolocator platform are 100% funded by venture capital. The decision to use such a traditional approach to funding indicates investors’ trust in the project as well as highlighting the founders’ confidence in their own product.
Future upgrades to the platform will be undertaken in several stages and include the development and launch of mobile applications, connecting new cryptocurrencies, additional merchant functions, and more.
For more information about Cryptolocator, or to sign up to receive the latest news and updates about the upcoming launch, please visit their website – cryptolocator.com.
What do you think about the concept behind Cryptolocator? Will its ‘Ethereum first’ focus help the cryptocurrency’s value and market share? Let us know in the comments below.
Images courtesy of Shutterstock