CoinPark is a digital assets exchange designed to be a one-stop solution for cryptocurrency trading and portfolio management. It is a Singapore-based trading platform registered in June 2018. Its team is committed to providing international efficient, safe, and fast cryptocurrency management services.
CoinPark provides users with a cryptocurrency exchange, margin trading, OTC, lending, borrowing, and options trading. To use option products, users need to open and fund their option accounts. Correspondingly, in order to conduct transactions with financial derivatives and margin trading, investors need a margin account. Margin trading is available for BTC/USDT and ETH/USDT pairs on the exchange. The master account is used for deposits and withdrawals.
Withdrawals at CoinPark must be verified by the internal server after which the assets are sent to the blockchain for the miners’ confirmation. A receiver sets the safety confirmation number and when withdrawal reaches it, it is considered successful.
CoinPark offers 3x leverage to investors. The time period for each loan is 7 days while users have to pay a certain percentage of the margin on each loan. Lenders, in turn, are able to buy insurance against the risk.
The CoinPark token or CP is an Ethereum ERC20 standard token created to incentivize customers to use the trading platform. The maximum supply is limited to 2,909,939,258 CP coins. 40% of them were pre-issued and frozen, and 60% of the total amount was reserved for mining. 11.2 % of coins have been released into circulation. At the time of writing, the coin is inactive and not listed on any exchange.
CP is generated through transaction fee mining, a reward model in which the exchange compensates fees paid by traders with its own tokens. In the case of CoinPark, you need to make at least one trade per week in the Mining Zone that includes such cryptocurrencies as BTC, ETH, ETC, BCH, and LTC paired to USDT.
The CP coin is used to reward the CoinPark exchange members for trading and holding it. If a user trades in the Mining Zone, he or she receives a reward in the form of CP tokens. 80% of the collected commissions from newly released coins are distributed among users. CP holders also get a percentage of commissions earned by the exchange and the possibility to add their token to CoinPark for free.
The core CoinPark team consists of professionals in various fields of industries. Holden Hackies is the co-founder and CEO of the CoinPark platform responsible for Front Office Engineering, programming, and quantitative development. Daeeun Min is the co-founder and COO with 20+ years of expertise in strategic planning, business development, and risk management. Sigmund Bull is the CTO who has worked in financial software engineering, databases, and network architecture for over 15 years. Tricia Andrewson is the Chief Marketing Officer.Read More