Coinfield is a Canada-based centralized cryptocurrency exchange The platform located in Vancouver was launched in April 2018, and since then it has always continued to evolve and improve its credibility. Now the exchange with a large portfolio of coins offers its services around the world. The platform is available for users in over 100 countries and targets both individuals and institutional investors. Being a fiat-to-crypto trading platform, it is fully regulated by the FIU (Financial Intelligence Unit).
The infrastructure of the platform is developed by the dedicated in-house team that consists of high-quality specialists. The company tries its best to make cryptocurrencies accessible to all people globally. The developers of the resource set the goal to take their ecosystem to a higher level.
Coinfield wants to attain the position of the most influential international blockchain company. Trying to expand the functionality and possibilities of cryptocurrencies, it constantly works over the modernization of traditional functions.
The system uses PoS (proof-of-solvency) mechanism that is absolutely transparent. It enables clients to audit their assets at any time. Transparency and asset security are highlighted as the core principles of the exchange. As it has already been said above, the company adheres to the legal regulations and complies with AML policy. It is also worth mentioning such advantages as cold wallet storage and the steps the platform takes for fraud prevention.
One of the main priorities of the exchange is security. The team does everything to protect its users from hackers’ attacks. A matching engine employs low-latency algorithms, which are capable of coping with the load that can reach 20 million transactions per second. The functionality of the platform is developed to provide advanced trading services for consumers of different proficiency levels.
The team has also come up with a cutting-edge wallet management system that guarantees secure interaction of user accounts and corresponding blockchains. A reliable wallet system is developed on the basis of the proprietary infrastructure that is capable to conduct ACID (Atomic, Consistent, Isolated, and Durable) transactions. It means that the operations within a transaction are performed as a single operation bringing to the transaction failure in case some of the operations fail.
The synchronization of the wallets with the corresponding chains is performed via nodes that connect wallets to the blockchain. The wallets are hosted on the private servers of the platform. Additionally, the system employs third-party custodian services for the management of wallets with larger transaction volumes. The company cooperates with BitGo Enterprise that offers such services for the company.
It delivers a hassle-free performance due to the robust, powerful, and advanced technologies. Created for global traders, the main task of the exchange is to deliver a seamless experience without delays when operations are processed. Long verification time is excluded on the platform and the transfers are fulfilled incredibly fast and easily. The trading fee varies from 0.05% to 0.25%.
Being a rapidly-growing platform, Coinfield provides a dynamic trading environment for fiat-to-crypto exchange and vice versa. It is easy to use and all issues are solved by support in a nick of time.
The platform is mobile-friendly and caters to the needs of users who are often on the road. Therefore, the team has developed versions of the application for the most popular operating systems, Android and iOS. The intuitive app features all necessary functionality and can be easily used even for the most sophisticated trading strategies. The features offered to mobile users include the trading charts, depth charts, limit orders, and price alerts. Pulling the latest data from the powerful API developed by Coinfield, the mobile app can provide the same level of consistency and security for traders as its desktop version does.
There is also the OTC desk developed by Coinfield for professional and institutional traders. It works round the clock and delivers a personal approach to its users concerning such issues as custody, favorable pricing, and liquidity sourcing.
Apart from all the services offered above, the team can also develop a turnkey solution for the company that wants to run a digital asset exchange. This offer comes as a White Label Exchange Package that features an intuitive dashboard ready for operations and trading functionality panel with lots of features.
The platform was founded by Babak Bo Raz, CEO, who previously took the position of a Senior Global Expansion Adviser at Hardex Brakes and Reza Bashash, CTO, a serial entrepreneur, who invested into different startups including a coupon site SideBuy and semantic search text service inextweb.
The team includes highly qualified specialists. When they accumulated their general experience of work, they received over 120 years of expertise in blockchain, trading software development, and other spheres required for the successful functioning of the exchange. The team includes senior blockchain developers, backend/frontend developers, and security specialists who honed their skills working for other companies and now use them to improve Coinfield. The cryptocurrency exchange established strong banking relationships and, also, has the backing of the XRP community acting as an XRP ledger validator.