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  • Covesting receives DLT license from ‘Gibraltar Financial Services Commission’, but what does it mean?
    by /u/OkBTC on October 20, 2018 at 8:37 am

    Covesting was one of the first exchanges in the world to receive the so-called DLT or Distributed Ledger Technology license from the Gibraltar government. In this way, it is able to profile itself as a highly reliable company within the cryptocurrency market. What is a DLT license? The DLT license was introduced on 1 January 2018 and is issued by the ‘Gibraltar Financial Services Commission’. In order to obtain this license, it is necessary for companies to comply with the nine basic principles established by the GFSC: Honesty and integrity: The DLT provider must always behave reliably, honestly and professionally both internally and in its dealings with the public. In addition, the company must not pose a risk to the people and the reputation of Gibraltar. Customer service: Companies wishing to obtain a DLT license must provide excellent customer service. Complaints must be handled correctly and, in addition, there must be clear and transparent communication. Means: Despite the fact that there are no concrete requirements with regard to the available resources, the GFSC wants DLT providers to have both their financial and non-financial affairs in order. This concerns not only the available capital, but also internal procedures that must be followed and any insurance that may be required. Risk management: Not only should sufficient resources be available, a holistic approach to risk management is also required. Protection of customers' assets: One of the most important requirements for being granted a DLT license is related to securing the assets of customers. In particular, securing the available data as well as other technical (security) aspects is crucial for obtaining a DLT license. Clear corporate governance: The principle of clear corporate governance specifically relates to the way the company is run, its internal structures, procedures and strategy. Cyber security: In order to obtain a DLT license, a company must always guarantee rock-solid security. In addition, any threats must be dealt with as effectively as possible and be subject to an audit carried out by an external, specialised party. Financial crime: A DLT provider should always take appropriate actions to comply with the applicable 'know-your-customer' requirements regarding the 'Proceeds of Crime Act 2015'. Resilience: Finally, every company must be able to show the necessary resilience in order to limit losses as much as possible in problem situations. In addition, the impact or inconvenience to customers must always be kept to an absolute minimum. Benefits for users and investors The DLT license Covesting has obtained brings a large number of interesting benefits for users and investors. This way one can not only be sure one is working with a reliable and solvent party, but this also guarantees an optimal protection of the invested, financial resources. The DLT license also makes it possible for users to make deposits in fiat money such as euros and enjoy the security that advanced risk management brings. All this ensures that the DLT license not only makes the cryptomarket more reliable, but also more accessible to the general public. What is Covesting? Covesting is a cryptocurrency exchange and trading platform that provides users with real-time market data as well as advanced charts. Covesting also offers its users the possibility to copy the trading activities of leading cryptocurrency investors by means of so-called 'copy trading'. This makes the platform suitable for both novice and more experienced traders. Covesting's own COV-token makes it possible for investors to follow professional cryptocurrency traders on its platform. In addition, paying the trading costs with this token provides a discount of 50 percent. This ERC20 utility token also gives access to extra possibilities such as algorithmic trading and arbitrage bots. Finally, users of the Covesting platform can always count on the expertise of an excellent, multilingual 24/7 customer service. Upcoming developments Covesting wants to be a platform that continues to innovate, so we’re planning many new developments in the (near) future. For example: there is currently a trading competition in which cryptocurrency traders have the opportunity to show off what they can do. The best traders can win 10,000 COV, and at the same time, this competition will demonstrate to other Covesting users which traders might be interesting to follow. Another important addition to the Covesting platform is the introduction of fiat deposits with EUR and GBP, with different exchange pairs on offer. These include BTC/EUR and ETH/EUR. Finally, in October of this year, the COV token burn will start, meaning, as the name suggests, the 'burning' of COV tokens, reducing the already low supply of 20 mln. tokens continuously. Would you also like to make use of a reliable and innovative exchange or are you, as an experienced cryptocurrency trader, keen on winning the trading competition? In any case, it is worthwhile to register with Covesting! Registration is very easy and accessible for everyone! submitted by /u/OkBTC [link] [comments […]

  • IBM Blockchain World Wire: How it works
    by /u/submawho on October 20, 2018 at 8:14 am

    submitted by /u/submawho [link] [comments […]

  • ShareRing Development Update 3
    by /u/RealCryptoAnon on October 20, 2018 at 8:12 am

    submitted by /u/RealCryptoAnon [link] [comments […]

  • Last week while the stock market was volatile and unpredictable, bitcoin remained stable - and Wall Street took notice!
    by /u/Digitallifeworks on October 20, 2018 at 6:36 am

    submitted by /u/Digitallifeworks [link] [comments […]

  • Aphelion DEX Adds 8 New Trading Pairs, CPX Included.
    by /u/tomer1992a on October 20, 2018 at 6:16 am

    submitted by /u/tomer1992a [link] [comments […]

  • New X-Rapid partner
    by /u/pdc123 on October 20, 2018 at 5:49 am

    submitted by /u/pdc123 [link] [comments […]

  • Daily Discussion Megathread - October 20, 2018
    by /u/CryptoCurrencyMod on October 20, 2018 at 5:40 am

    Welcome to the Daily Discussion Megathread. Please read the disclaimer, guidelines, and rules before participating. To see the latest Weekly Skeptics thread, click here To see the latest Weekly Support Discussion, click here Disclaimer: Though karma rules still apply, moderation is less stringent on this thread than on the rest of the sub. Therefore, consider all information posted here with several liberal heaps of salt, and always cross check any information you may read on this thread with known sources. Any trade information posted in this open thread may be highly misleading, and could be an attempt to manipulate new readers by known "pump and dump (PnD) groups" for their own profit. BEWARE of such practices and excercise utmost caution before acting on any trade tip mentioned here. PnDs and brigades are not sanctioned by the mod team in any way as they violate rule III. If you discover this thread is being used for these activities, bring it to the mod teams's notice via the modmail. Rules: All sub rules apply in this thread. The prior exemption for karma and age requirements is no longer in effect. Discussion topics must be related to cryptocurrency. Comments will be sorted by newest first. Guidelines: Questions, debates, meta issues, etc are all welcome. Breaking news should be posted separately from this thread. Resources and Tools: To view live streaming comments for this thread, click here. Account permissions are required to post comments through Reddit-Stream.com. Click the RES subscribe button below if you would like to be notified when comments are posted. Consider checking out our Weekly Skeptics Thread for discussion focused solely on critical analysis. Click here and select the latest thread on the search listing. Thank you in advance for your participation. Enjoy! submitted by /u/CryptoCurrencyMod [link] [comments […]

  • Sanad Bahrain using xRapid
    by /u/father_mucker on October 20, 2018 at 5:07 am

    submitted by /u/father_mucker [link] [comments […]

  • Cryptocurrency Market Update: A New Brave Browser Boosts BAT
    by /u/CCNewsBot on October 20, 2018 at 4:58 am

    submitted by /u/CCNewsBot [link] [comments […]

  • Powerledger wins Richard Branson Extreme Tech Challenge
    by /u/OZ_Boot on October 20, 2018 at 3:40 am

    submitted by /u/OZ_Boot [link] [comments […]