The unprecedented growth of digital assets and their trading in the past few years came as a pleasant shock to the global financial markets. As of October 2021, the total crypto market cap is comfortably sitting at over $2.1 trillion, with 300 million users spread across the globe. These numbers might seem huge at first, but on further inspection, we realize that they are minuscule in comparison to our traditional financial systems.
Even after cryptocurrencies successfully stood the test of time and flourished in the wake of the pandemic, their adoption rate seems to be low. This is mostly because of their lack of accessibility and liquidity. The truth is that the complex processing involved in the buying, selling, storing, and trading of cryptocurrencies deters people from getting involved in the decentralized space. Wallets like Metamask, where users can buy and store cryptos, are not user-friendly and DEXs do not accept fiat payments. So, beginners are only left with centralized exchanges to buy crypto from. To make things worse, users are forced to rely on too many platforms for their different needs in the crypto space, which becomes extremely difficult to manage.
However, these centralized exchanges, as we’ve seen recently, have some serious security issues, and a single hack can wipe off all users’ assets. These factors combined make digital assets unappealing to beginners. But, we now have a solution to all these accessibility woes in the form of Coinovy.
The All-Rounder Wallet
Coinovy is an all-in-one cryptocurrency wallet application that aims to make cryptocurrencies easily accessible to the masses. Through its all-inclusive interface, the platform aims to minimize the friction for everyone to buy, sell, store, trade, insure, shop, and withdraw cryptocurrencies. It is built so as to lower the barriers to entry for beginners while still ensuring that it effectively caters to the needs of seasoned crypto users.
The Coinovy wallet acts as an excellent bridge between the traditional finance and digital asset worlds to ensure seamless transfer of funds. As a multicurrency wallet, it supports a variety of digital assets including BTC, ETH, and LTC, meaning that users no longer have to rely on multiple wallets to store their assets. What stands out the most, however, is the crypto-to-fiat conversions that Coinovy facilitates. Users can withdraw the crypto assets stored on Coinovy wallet to a global VISA-powered debit card and spend it anywhere with ease. This debit card can also be linked to Apple Pay, making it even easier to spend cryptos.
Apart from being a crypto wallet, Coinovy is a crypto exchange that features more than 100 exchange pairs so users can easily trade their tokens of choice. Furthermore, users of Coinovy are assigned an International Bank Account Number (IBAN) that makes it easy for them to transfer funds across the globe to over 150 countries. For those worried about the safety of your assets on this platform, Coinovy has partnered with BitGo to insure user assets and compensate them in case of a security threat.
With these features, Coinovy sorts the accessibility problem, but that’s not all. Coinovy has a lot more to offer to the crypto world.
Considering the problem of interoperability that is prevalent in the crypto world, Coinovy has created a bridge that facilitates cross-chain transactions between Binance Smart Chain and Ethereum. The platform also provides instant loans of up to $5000 to users against their crypto holdings in a bid to help them fund other ventures of their life without having to lose their crypto by selling etc?. Or, users who have their crypto assets lying idle can stake them directly on Coinovy and earn handsome incentives. Apart from this, Coinovy also helps investors grow their assets with AI-based predictions and forecasts on asset values.
To power the platform and to settle transactions, Coinovy has a native token called C2F. This ERC-20 token has a maximum supply of one billion C2F and serves as a payment method on the platform, alongside all the other supported cryptocurrencies. The holders of the C2F token are entitled to various incentives and discounts provided on the Coinovy platform. They can also use it for paying fees, purchasing goods and services, exchange listing, staking, and advertising on the Coinovy platform.
What Does the Future Look Like?
With cryptocurrencies growing in popularity by the day, we now have so many new users looking to make their way into the world of decentralization. To all of these new users, Coinovy comes as a welcome windfall. It lowers the walled gardens of the crypto ecosystem to make it more accessible to everyone across the globe. If implemented well, Coinovy could become key to the mass adoption of cryptocurrencies.