Tech4Cryptos Creation System
Tech4Cryptos has released its brand new cryptocoin creation system. All white label clients can enjoy this service, enabling organizations to create their own centralized digital currency etc. in a few easy steps.
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Why Create a Cryptocoin?
Even digital currency enthusiasts encounter situations where a simple, centralized cryptocoin can be useful. Cryptocoins can be used for a broad diversity of purposes ranging from loyalty programs to dividend distribution. The main advantage of a cryptocoin system is that it does not rely on miners, therefore cryptocoin transactions are instant, free and not subject to the same hacking risks as digital currencies. Not designed to replace cryptocurrencies, cryptocoin transactions are an added function used to facilitate certain elements of your business.
What Is a Cryptocoin?
A centralized, database driven cryptocoin is a virtual object with a certain use as defined by its issuer. This can be a frequent flyer mile, a virtual poker chip, a voucher for a coffee, or a representation of a company share; the possibilities are endless.
The creation of a cryptocoin on the Tech4Cryptos platform allows the issue, transfer and use of cryptocoins for almost any purpose. Cryptocoins can be transferred instantly, distributed by email, with flexible value options (fixed or tradable). Importantly, if anyone tries to hack or steal your cryptocoins, the centralized system allows for reversal of transactions so that stolen cryptocoins can be reclaimed.
How to Create a Cryptocoin on Tech4Cryptos?
New clients must first sign up as a white label before the cryptocoin creation feature can be activated. If you are already a white label exchange operator, cryptocoin creation can be done following the simple instructions below:
1. Sign up as a white label and integrate your front end website
2. Request cryptocoin creation from Tech4Cryptos by email or phone
3. Receive notification of cryptocoin creation, make a deposit request for amount of cryptocoins via Tech4Cryptos system
4. Set the markets for your cryptocoin and commence trading
Having created your cryptocoin, you can:
• Transfer cryptocoins by email
• Set a fixed price or make cryptocoins fully tradable
• Set markets against any supported currency on the Tech4Cryptos platform
Advantages of Cryptocoin Systems
• Instant transactions: no need to wait for miner confirmation
• Free transactions: no need to pay for mining
• No charge backs
• No reliance on opening bank accounts
• Anyone can deposit and purchase in any currency
• Not hackable: transactions are reversible therefore stolen cryptocoins can be reclaimed
Disadvantages of Cryptocoin Systems
• Not decentralised: require trust in operator
• No public ledger: note all transactions are logged and can be made public
Who Can Benefit From Cryptocoin Systems?
Due to their broad range of uses, many different types of organizations can benefit from issuing cryptocoins. Tech4Cryptos itself uses a cryptocoin system as a fee structure, for example. Cryptocoins can be used by online betting companies (much like betting chips) to overcome cash transfer issues, as a rewards system for client loyalty, as a free giveaway voucher, and even as a centralized digital currency for parties with a high level of trust. Here are some common use cases:
• Gaming companies: In order to overcome betting industry challenges such as the expensive fees associated with on-boarding money, cryptocoins can be used for betting, much like virtual chips.
• Loyalty programs: Reward clients for their repeated custom by granting loyalty points which can then be exchanged for goods, services, or money.
• Localised digital economies: Much like digital currencies, cryptocoins can be used for the exchange of services by independent parties, without the cost and delay incurred by crypto currencies such as bitcoin.
• Share Issuance and Dividend distribution: Cryptocoins can be issued in lieu of corporate shares, and distributed instead of dividends, allowing them to be freely traded at any time.