Coinchum is a Peer to Peer marketplace with various cryptocurrency offerings, including Bitcoin, USDT, Ether, XRP, and the Chum token. Coinchum integrates web-based features with an intuitive interface that enables users to learn from education resources and trade cryptos using advanced market tools that allow for the efficient monitoring and analysis of market trends. CoinChum opens up opportunities for both novice traders and pros to cash in on crypto trades by facilitating one-on-one interactions between users. Pros can leverage copy trading to monetize their strategies and profit from novice traders to maximize their returns.
Tiered deposit or withdrawal fees for all the cryptocurrencies.
Awesome affiliate program (Users earn a percentage by their referrals.).
Cryptographically secured wallet provided by Multi-Party Computation (MPC) technology
Flexible exit plans for investors (SPAC setup and operation in Hong Kong)
Coinchum’s wallet security is protected via MPC which is cryptographically secured and protects the wallet from any human error or cyber-attack. Security to a wallet address is necessary as many individuals and institutions are entering this ecosystem. MPC provides four layers of security. These consist of:
1st Layer - Multi-Cloud with MPC
The Multi-Cloud provides security to the private key as it is never on a single device. The MPC and CMP (Certificate Management protocol) remove any single point of contact from both the internal and external hackers.
2nd Layer – Software Guard Extension (SGX)
SGX is encryption by the CPU of a portion of the RAM (i.e. computer memory) used to store each private key. The RAM and data are encrypted in the SGX which protects them from any hack or malware attack, even if the hacker has overall control over the Operating System.
3rd Layer – Policy Engine
This layer enables institutions and organizations to set their approval policies for the transaction, hence, it is called Policy Engine. The Policy Engine is also client-facing: it enables users to set their own rules and validation processes needed before transaction approval.
4th Layer – Settlement layer
Since the deposit address’s authentication is automated, the settlement layer helps in mitigating risks by authentication rotation. This is very important as at stake here is institutional asset security.
Problem (with prevailing P2P crypto platforms) & Solution(by Coinchum)
Limited choices on coin selection. No risk hedging tools.
- An open voting system
- Binary trading pairs with low fees
Poor or non-existence customer service
- Fast reply from online chat
- Fast resolution for login & account issues
Less security on account and wallet
- Assets insurance
- Fund password Account Security
High fraudulent probability
- Anti-Scam (before trade)
- Anti-Scam (after trade)
Lack of cryptoanalysis tools
- Detailed price analysis tool
- Powerful events & information terminal
Lack of education
- Cryptocurrency Academy
- Education resources
Inflexible fee structure
- Affordable and user-friendly fee rate
- Deductfees by Chum Token
How to make profits
- Leaderboard dashboard system
- Make profits by social trading
|Trading fee||1-2%||1-5%||0.5% and flexible|
|C2C and B2C||No||No||Yes|
Coinchum targets markets with excellent future growth
Global cryptocurrency adoption is skyrocketing. Overall, North America remains the most active. In India more than 90% of the users who come onboard from fiat currency use P2P marketplace. Africa as a whole is the fastest growing among all continents in terms of P2P trading volume. Africa’s Crypto Market has Grown by $105.6 Billion in the Last Year (2020).In raw numbers, this translates to $105.6 billion worth of crypto assets between July 2020 and June 2021, accounting for 1,200% crypto value growth. Nigeria is the largest volume driver in Sub-Saharan Africa. The country currently accounts for 48.5% of the total weekly P2P volume in the region, and it is currently the second largest nation in terms of weekly volume globally, only behind the U.S.
CRYPTO AND SPAC ERA
If Coinbase’s IPO has brought cryptocurrency into the mainstream of asset classes, it could have implications for SPACs. There are around 430 SPACs looking for deals and, it is highly likely given SPAC's role as lightning rods for speculation, that we'll start to see more cryptocurrency/bitcoin SPAC deals in the near future.
Indicative of future developments here is the news recently announced by Blockchain technology developer OBIT. OBIT announced in January 2021 that it is itself working to form a SPAC to combine with an emerging blockchain target.
DraftKing’s (NASDAQ:DKNG) 52-week low of $9.85 and a high of $64.19 shows how big a gain is possible when buying and holding a SPAC on an uptrend.
Use of proceeds
Coinchum aims to expand horizontally into new market segments in the future, thereby moving beyond its initial function as an innovative trading platform for cryptocurrencies. We will integrate more popular functions into our system. These functions include but are not limited to B2C, Social trading, Contract and Margin trading, as well as a professional trading system. Our goal is to build an ecological closed-loop system where traders can achieve their goals: trading and profiting. When we have more and more active global users, CoinChum will go to the next stage. Chum intelligent chain (CIC) will be a real updated smart chain where developers are able to build decentralized applications (DApps) and help users manage their digital assets cross-chain with low latency and large capacity. CIC is an easy-to-use public chain for users. And we need to take more social responsibility. That's why we will set up CHUM labs to support unlimited crypto startups like us now. We hope we can solve some problems in developing countries, like poverty, education, pollution. We will set up a foundation to help those countries who are in deep poverty from Africa, India, Latin American countries where our most users come from.
Below are some of the expectations that investors can get from CHUM token and CoinChum company
- Token appreciation
- Strategic acquisitions
- Management buyouts
- Initial public offering (IPO) via S.P.A.C
What are we planning to achieve?
Coinchum will be guided by the following product roadmap. The dates in the roadmap are indicative and are subject to change. In the event that amendments are made to the calendar detailed below, Coinchum will update this white paper accordingly.
What we’ve done so far?
As of the first week of Jan 2022, we have completed front and backend development, installed and tested SMS API successfully. Our engineers and a selected group of traders have begun to test the system and fix bugs. We are installing the final series of functionalities that will be available on the interface, with the result that a final product will shortly be ready to go to market
Core Team Member
Daniel YanCEO and founder
CEO and founder
Tech Entrepreneur, founder of Smart Web Construction Platform, senior crypto P2P and OTC trader, 10 years experience on forex and equity trading
Nitesh MishraCPO and co-founder
Co-founder and CPO
Serial Tech enterpreneuer, Founder of Bramble (Publicchain), Blockchain Development & Implementation, ML / AI Analyst
Serial entrepreneur, 20 years experience on Global Asset Management & Hedge Fund Strategies
Lokesh ShanbhagFinancial advisor
Early crypto investor and tech entrepreneur with expertise in the world of Metaverse, NFTs and P2E. Strategic Advisor for early stage projects & helping companies to fill in the gaps by connecting dots.
Xavier BravoCompliance advisor
Nine years of expertise in Customer Management and Compliance, Expert in the FinTech industry, Certified Bitcoin Expert™ (CBE) and Certified Crypto currency Expert™
Emanuela LuisaInvestment advisor
Fintech entrepreneur. Experienced advisor on crowdfunding and blockchain strategy. Helping early stage companies to reach investors
Yury SalamakhoMarketing advisor
Blockchain professional with C-level startup background and extensive experience in Marketing, Business Development, Operations, and Research. Experienced in startup investments and trading.
Simon HussStrategic Advisor
Strategist focusing on blockchain Technologies A decade of experience of solving Senior Leadership Teams toughest business problems, working with leading global corporations and with startups.
Jamilia GrierLegal advisor
Global regulatory and Blockchain attorney and entrepreneur, Founder & CEO of ByteBao, Legal Advisor to NFT and crypto projects