I am pleased to announce that we will be introducing Koinyx, a new exchange! The team has worked very hard over the last few months and we are very excited to bring this exchange online for the crypto-communities. Koinyx is an exchange, built by community members, for community members!
What is Koinyx
Koinyx is a US based exchange that is a crypto-to-crypto trading platform that extends traditional trading for a more interactive and community driven experience. Koinyx is pronounced "coin-x", much like how onyx is pronounced.Features of Koinyx
1. Koinyx is an exchange platform able to execute and handle a tremendous volume of coins per second.
2. Security, as with any good exchange, is top notch. Information and the general architecture has been compartmentalized and segregated as additional layers of protection to the standard security measures that any exchange needs to have.
3. Chat box - What's an exchange without a troll box
4. Customer service - Koinyx expects nothing less than the best customer service for its customers. We go above and beyond what is necessary to ensure that you are happy with your experience with us!
5. Transparency - Koinyx plans to be the most transparent exchange as possible, with future plans to have external auditing to ensure proof of reserves.
6. Additional features: We have plans to release some additional features that the community should enjoy quite a bit The team working on Koinyx
Andrew AKA TheMage - CEO
Forceflow - CFO
Umlauf - CTO, Lead developer/backend developer
Muegen - CIO, Director of Security , back and front end developer
Zethien - Director of Innovation, Front end developer, Marketing
As mentioned before, we are an exchange built by community members. Each team member has uniquely contributed to the spectrum of the crypto-ecosystem, from development to marketing to community issues. We care about the community, and that is the reason why we decided to come together and create this exchange for everyone. And rest assured that our team members will continue to contribute back to the community as well as provide a positive and safe experience for trading! We believe in crypto’s, and thats why we want to contribute by creating Koinyx!Legal and compliance
Koinyx is in the process of being registered with the state of Texas as a legal US entity. Koinyx will also be fully Fincen compliant as well as US-EU Safeharbor compliant. We are taking every step to ensure that we will meet or exceed any regulatory requirements.
List of coins we are planning to support
This list has coins we are planning on supporting. They are based on a subset of technical criteria at this time as well as a preliminary review of their code/wallets. Please keep in mind that we will list these pending any other issues or problems we may discover with these coins. This list will be continuously updated with coins after preliminary reviews and a update will be provided when the coin is put into this list.
We will be producing a roadmap for everyone in order to show our plans to incorporate fiat into the exchange! The roadmap may or may not be completed until after launch however.10/22/2014
Closed beta information. Koinyx will be supporting Bitcoin, Litecoin, Dogecoin, Peercoin, Darkcoin, and Namecoin! Take note, this is only for closed beta and we will be using testnet coins only. 10/26/2014
I am pleased to announce that we have the initial preliminary list of coins we plan to support. A new section has been created on this thread called "List of coins we are planning to support". I will continue to reach out to other coins/developers but I also welcome other coins to reach out to us. If anyone here is a part of another coin community assistance in making the connections are also welcome!
I would also like to mention that recently the Neoscoin developer has included a mention of Koinyx in their latest wallet update and announcement. As a large crypto enthusiast myself, I am glad to meet people who are like minded and are in cryptos for the greater good.
Here are the mentions:
Neoscoin official Annoucement: http://forum.neoscoin.com/t/neos-v2-0-1-released-information-and-upgrade-instructions/220
Bitcointalk thread: https://bitcointalk.org/index.php?topic=835131.0
Also, Koinyx has had its first mention in a news article based on the Neos announcement! Here is the article.http://www.cryptoarticles.com/crypto-news/neoscoin-client-update-multipool-news-koinyx-partnership-more
One last very important piece of information. At launch Koinyx plans to open ALL trading pairs for Bitcoin, Litecoin, and Dogecoin! This will be the first exchange to offer all trading pairs beyond Bitcoin.
Thank you all!10/27/2014
I am happy to announce that I have added two coins to the coins supported list, Exclusivecoin and Vericoin!11/4/2014
Small update folks, we are goign to have a small delay with the closed beta invites. I'm sorry to say but looks like we will be sending them out in 2-4 weeks in order to get a few more things accomplished. My apologizes for those who are eagerly awaiting Koinyx invites this week.11/19/2014
A great and important update (sorry it's not about close beta invites sadly....yet
). Koinyx will be utilizing Coinsource's coin trust index!http://www.coinssource.com/trusthttp://www.coinssource.com/trustindex-faq/
What does this mean? This means that we have a reliable source of information that we can pass on to our community members when deciding on what coins they should invest in. The trust index is currently based on 7 factors, which can be read about here http://www.coinssource.com/trust-index-verification/
This also means that Koinyx can utilize this service in order to decide which coins could be listed, greatly reducing interview time on our end in order to focus on other matters. I firmly believe that the crypto world needs a service like this, and I am very happy to include this with Koinyx.11/28/2014
Feathercoin has been added to the list of supported coins at launch!11/29/2014
Fastcoin and Noblecoin is now added to the list of coins supported at launch! EDIT: Added Blackcoin as well!11/30/2014
Reddcoin, Hobonickles, and bottlecaps now added to the list of supported coins!12/1/2014
Vertcoin and Franko will now be supported at launch!12/6/2014
A few updates folks, the first one is that we will be supporting Digibyte at launch!
The second update is that some of the development we are doing is unfortunately taking longer than expected. There have been a few instances where we had to sideline development in order to implement some security measures we did not think we would have to do at this point.....and I will leave it at that.
However, with that said we will be renaming the closed beta a product demo and releasing it very soon to those that I mentioned will be invited. This will have many features that a closed beta would have, but I wanted to ensure that those who would be getting an invite have expectations met. With some slowdown in development, we may not have 100% functionality in place, but the core components will be in place.12/8/2014
Emails for product demos will be out in a few days!12/22/2014
Product demo email was just sent out!12/23/2014
Feedback document sent out to everyone who received a product demo invite. This is very important to us, so please take the time to fill it out!2/2/2015
Ok, so it's been a long while since we posted an update of any sorts. But rest assured that the Koinyx team is working very hard and diligently at providing a safe, stable, secure, and scalable exchange for everyone (hey I should trademark that as "The 4 S's"
Now to the meat of it all....Koinyx Blog posts
I've updated the blog with 3 new entries and pre-dated them to reflect the times they should have been posted. The new Blog entries are "Introducing Koinyx", "Announcing our company registration", and "The successful product demo". We plan to be more proactive in the future with these blog updates and for the time being when something is posted I will also post here as a reminder for everyone. All blog items can currently be viewed at www.Koinyx.comRegulations and customer tiers
One of the larger tasks that have been on our plate is ensuring that we adhere to regulatory compliance. To be perfectly frank, saying that this is a daunting task is an understatement. However, I want to remind everyone that these measures are necessary so that our customers know we are very serious about our company. Koinyx isn't a fly by night exchange that could close shop whenever they feel they have enough holdings in their cold wallets. We are here to stay, and complying to regulations is so our customers know they have protection and can trade safely.Tier 0
Need to provide: Account name and password
Can not trade, withdraw, or deposit (basically for looking around)Tier 1
Need to provide: Full name, state, zip, phone, and date of birth
Withdraws and deposits limited to $1,000 day / $3,000 Month
This tier is for crypto onlyTier 2
Need to provide: Full address, copy of ID, National ID # (AKA social security number), address verification
Withdraws and deposits limited to $5,000 day / $100,000 Month
This tier is for crypto and fiat once implementedTier 3
Contact customer service
Withdraws and deposits limited to $50,000 day / $500,000 Month
This tier is for crypto and fiat once implementedOn fiat incorporation:
As I mentioned in the original post, we do plan to have fiat at Koinyx, but it wont be when we first launch. We are working hard to determine the correct course of action in order to list fiat, and I just wanted to mention it here so people know we are still working on this. We currently have no set time frame on when we can introduce fiat, but it will be there. The exciting news is that this will open up a new world of possibility's not only for Litecoin, but for other alts as well. Which will only strengthen the crypto eco-system and help with crypto adoption.