Is CoinList safe to use?

For the time being, I will be exploring information about Coinlist.co under the title Coinlist review. The first time I found this site was quite interesting because I had to face a captcha challenge before finally being able to access the site.

This means that this site is specially designed with high-security standards at the beginning. That will limit each site visitor to only 10 minutes to access the information on the site.

We now know that there are thousands of cryptocurrencies listed on the exchange. Of the thousands of cryptos, not all of them are good and get bright prospects because of the few enthusiasts.

Coinlist.co is a site that deals with crypto listings on exchanges. Well dig deeper into this in the Coinlist review.

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Coinlist Explained

In simple terms, Coinlist is a place where a cryptocurrency is created, developed, before being auctioned on the secondary market.

There are several advantages offered by Coinlist, including getting access to new tokens before listing on the exchange. This allows for an initial screening of a project, whether it is assessed as new or not, so as to determine investment.

Users can also select trades via the Coinlist platform which is accessed via Coinlist pro. It allows for trading access to cryptos listed on Coinlist, such as Celo, Algo, AAVE and others.It functions as a crypto asset exchange, with pairs of USD, or USDT and BTC.

Through staking, it is also possible for users to get earning on Coinlist wallets such as Celo, Algorand, Flow and NuCyphers NU. Apart from that Coinlist also offers BTC to WBTC conversion and contributes to the Defi project.

How does Coinlist work?

Broadly speaking, Coinlist is a meeting place between cryptocurrency developers and crypto investors. Where the Coinlist service is not only an exchange platform, but more than that, there is also a lending service launched in 2019.

At the time the press announced on the coinlist blog that more than 40 thousand new tokens had been registered on this exchange.

Usually they will notify via blog update if there are new tokens that might attract investors to participate in the project to get rewards.

Coinlist Referal program

This is a special attraction for users, they offer a referral program, where anyone who can invite someone to join the Coinlist community and make a minimum purchase of $ 100 is entitled to get $ 10.

The commission will be transferred to the Coinlist wallet, however it is not available for trading on Coinlist pro.

Referral programs are an effective way to expand the reach of a business by providing a reward boost to members who spread information about Coinlist and successfully bring in new customers into the community.

Coinlist History

Coinlist was discovered in 2017, with a similar conceptual framework to Angellists first launch in 2010. Some of the people who joined the team that discovered Coinlist are Andy Bromberg, Brian Tubergen, Graham Jenkin, Joshua Slayton, Kendrick Nguyen, and Paul Menchov.

Coinlist is headquartered in California USA. It becomes a platform to meet fundraising investors connect to the initial token sale.

In 2017 Coinlist successfully organized an ICO for Filecoin and raised over $ 205M from over 2100 investors. Besides hosting the Filecoin ICO, Coinlist has also hosted Blockstack, Props, and Origin.

2018

In its history in 2018 Coinlist managed to raise funds of up to $ 9.2 million from Polychain, Electric Capital, Libertus Capital, Digital Currency Group FBG Capital, and CoinFund.

2019

In 2019 Ocean Protocol via Coinlist is holding an ICO with a fundraising target of reaching $ 6.77 million in Bitcoin. This year, Jack Dorsey developed a trade on Coinlist with an investment of $ 800 million.

Can coinlist be trusted?

Coinlist is considered a trusted company because it also has a legal license, like a business license that is registered in several regions, such as Alabama, Arizona, Connecticut, and many other regions with different license numbers depending on the region where the license is issued.

However, in general, it is registered with CoinList Markets, LLC is registered as a money services business with the Financial Crimes Enforcement Network [FinCEN],

Coinlist does not accept users from Alaska, Hawaii, Minnesota, Nevada, New York, Puerto Rico, Virgin Islands, U.S. Some countries are also not accepted, such as North Korea [North], Syrian Arab Republic, Cuba, Crimea region of Ukraine, And other jurisdictions as determined by Coinlist.

However, not all reviewers have given positive sentences on Coinlist. Like the reviewer on Trustpilot out of 194, this reviewer is a bad exchange. And he only got a 1.4-star level out of a total of 5 Stars.

To register on Coinlist you also have to meet KYC requirements and AML rules, it requires several documents as a requirement to pass verification.

Coinlist casper

Casper is a network dedicated to adopting developers who are members of the Casper network. Casper has a native CSPR token that manages all transactions on the Casper network.

The Casper network is the generic name for Ethereums next big update, and Casper is the hard-fork of Ethereum. The Ethereum team hopes Casper will help Ethereum in its challenge of facing massive adoption globally, as this protocol will provide already developed scalability capabilities and counter the risks of centralization that are often associated with the PoW consensus.

Why was Casper needed?

Casper will make sure Ethereum moves from PoW to PoS. There is a huge difference between the two. For example, miners will be replaced by validators. Then the validators will gain consensus by taking turns submitting and voting on the next block. As the name suggests, the weight of each validators vote depends on the size of the validators stake [deposit].

Initially, Casper will run a hybrid consensus mechanism, combining PoW and PoS. this will ensure platform stability during the transition process. In addition, ETH holders can stake their tokens in a special wallet. For their services to the Ethereum network, they will be awarded ETH. The more ETH a validator keeps, the bigger the reward.

Type of Casper

There are two versions of Casper called Casper the Friendly Finality Gadget [FFG] and Casper the Friendly Ghost: Correct by Construction [CBC].

FFG will ensure the functioning of the hybrid mechanism and ensure a smooth transition from PoW to PoS. New blocks will still be created via PoW, FFG will be placed on top of them using a smart contract.

The CBC version is designed to fine-tune the partially built PoS protocol until the system functions properly.

Coinlist how to buy Casper

The Casper network uses Coinlist in its bid to pre-launch, to get CSPR tokens the only way is to buy via Coinlist. You need to register on Coinlist, then follow the instructions for purchasing CSPR tokens.

CSPR tokens are offered through three ICO options.

• 1 12-month lockup: $ 0.015 per CSPR.
• 2 6-month lockup: $ 0.02 per CSPR.
• 3 Freely trading: $ 0.03 per CSPR.

Coinlist will display information on the token sale period, on the Coinlist / Casper page.

But unfortunately, during the time press, all of these options were Sold out, so after the token sale, how to get CSPR could contact the Casper Network.

Coinlist mina

Coinlist has become the first place in many startup fundraisers or new blockchain companies. Besides the Casper Network, there is also the Mina protocol that uses Coinlist as the start of pre-launching.

Mina Protocol itself is a solution for heavy blockchain technology, the size of the Mina protocol is claimed to be only 22 KB while blockchain in general reaches 300 GB. Mina is the lightest version protocol compared to blockchain. Read more Coinlist/mina.

Mina protocol size remains constant at 22 KB despite increasing usage. At first, the Mina protocol was the Coda protocol which later changed to the Mina protocol in October 2020.

Mina in collaboration with Coinlist held an ICO which was on April 13, 2021, 14:00 April 14, 2021, 23:59 UTC, and April 16, 2021, 14:00 April 18, 2021, 23:59 UTC, which are currently sold out all tokens offered.

Difference Mina with another blockchain

• Blockchain is generally heavy, but Mina is the lightest protocol, it is only 22 KB in size and will remain the same size as usage increases, other blockchains increase in size as usage increases.
• Mina can interact with the website privately, it can also interact with the internet, which blockchains generally cant do.

zk-SNARKs work

zk-Snark stands for Zero-knowledge succinct non-interactive arguments of knowledge. Mina protocol uses the zk-Snark method because it has advantages, such as Proving statements on private data, Anonymous authorization, Anonymous payments, as well as Outsourcing computation.

zk-SNARK means zero-knowledge succinct non-interactive argument of knowledge [short empty knowledge non-interactive knowledge. Zk-SNARK evidence has been used by the JP Morgan Chase blockchain-based payment system, as a way to secure authentication of relations to servers.

However, zk-SNARK is under development for widespread use and adoption, however, the zk-STARK proof is now mentioned as the latest and updated version of the protocol, addressing many of the weaknesses of the previous zk-SNARK.

Coinlist buy with credit card

To make a deposit to a Coinlist account, users can choose options using cryptocurrencies such as BTC, ETH, and so on. The deposit will be received on your Coinlist wallet. It can then be transferred directly to the Coinlist pro trading platform.

The deposit option besides using Crypto is to choose USD. The available options are to use wire transfer and ACH transfer by selecting bank transfer.

Perhaps another way to deposit using a credit card is to use another exchange that supports credit cards. Such as Coinbase, then buy a cryptocurrency and send it to a Coinlist wallet.

Is Coinlist a good exchange?

From account security, like other exchanges, Coinlist uses 2-factor authentication or 2FA. This company claims to be a trusted exchange compared to other exchanges.

The reason is that they partner with top custodians like Bitgo and Gemini Custody.

However, to give an exchange value is good or bad, not only from one perspective. If you look at the companys claims, Coinlist claims the best, but we also see how users say. From Trustpilot user reviews. There are a lot of bad statements regarding Coinlist. This resulted in a poor rating on Coinlist which only received 1.4-star reviews.

Citing from CNBC, according to CEO and Coinlist founder Andy Bromberg said the majority of ICOs are scams. Furthermore, Andy gave suggestions to avoid ICO scams. It by evaluating the integrity of the company, the technical team. And what products the company has built in the past.

Final Thought

Coinlist is a platform that is quite attractive to ICO fans, as they will find new startups offering blockchain technology. Although it is quite risky because the data revealed is more ICO scam than profitable.

So using the Coinlist platform should also be aware that it is a fundraising platform for startups and a risk for investors. Stay wise in investing in cryptocurrency. Although there are also success stories of someone getting rich because of crypto.

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