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All About KuBitX



Business Model
KUBITX's business model consists of revenue streams from market commissions and management fees. This section will explain how the revenue stream and KuBitcoin token (KBX) has been integrated into the system, giving an idea of ​​how KuBitcoin token (KBX) holders will be rewarded.

25% discount for using KuBitcoin tokens (KBX): KuBitcoin tokens (KBX) are easy to use as a payment method for negotiation costs. In addition, users who choose to use KuBitcoin tokens (KBX) as a method of trading commissions will receive a discount of 25% compared to the original commercial rate. If the accounts receivable are NEO, we will calculate the exchange ratio of NEO to KBX at the market price, based on the market price of NEO / BTC and KBX / BTC. Exchange rate NEO / KBX = NEO / BTC [price Market] / (KBX / BTC [market price]). The KuBitX update cycle for the market price is 1 second.


ADVANCED PLATFORM
KuBitX is one of the most advanced and robust cryptocurrency trading platforms designed in a very user-friendly manner to enable people from all regions and backgrounds get a stronghold of the ideas revolving around the Blockchain and the cryptocurrency space. It is built to transact at 12 million transactions per second. Avoiding exchange crashing, creating more to trade at faster speed.

SECURED WALLETS
Contained within the KuBitX ecosystem are the KuBitX Trade engines, the secure KuBitX wallets, and an advanced Admin dashboard for regulating the activities within the Trade Exchange.

FOR BUYERS AND SELLERS
By targeting even the remotest people for their inclusion in the cryptocurrency market, our goal is to become one of the most diverse cryptocurrency marketplaces for buyers and sellers worldwide.

EDUCATION
Emerging markets need more awareness on cryptocurrencies. KuBitX education focus will drive more literacy levels in emerging markets with on the ground seminars and workshops. Currently in Africa, only 4% of the continent is engaged in Crypto. KuBitX focuses on heavy education campaigns that will infiltrate emerging markets. There are 10 big emerging markets and economies in the world.

LANGUAGE DIVERSIFICATION
KuBitX has identified that language barriers becomes issue for customer support, as a result - poor customer support ratings happen. At KuBitX, our global channel ambassador program will ensure that we have local dialect presence in each country so that customer support experience can be heightened and turn around time can be faster for responses.

FASTER TRANSACTIONS PER SECOND (TPS) SPEED
KuBitX competes with global rivals with current exchanges doing about 1.4 million transactions per second. KuBitX is built to trasact at 12 million transactions per second. Avoiding exchange crashing, creating more to trade at faster speed.


The idea to create a new cryptocurrency exchange came up when the founders identified some crucial shortcomings in the present Cryptocurrency exchange ecosystem. The founders had a strong belief that the cryptocurrency exchange ecosystem has more to offer.
Following are the biggest gaps which caught our attention:
1. Lack of a mature ecosystem -lack of regulations on the way trades operate on the exchange often allows “whales” to manipulate the prices of certain currencies which is against the interests of other traders. Despite the cryptocurrency space growing rapidly and currently having a market cap of about $300 billion the trading ecosystem is still premature. There are several exchanges which suffer from serious liquidity concerns and many charge high trade fees which are very expensive to many people around the globe. 

2. Friction in dealing with fiat currencies – Often getting liquidity in fiat currencies against crypto assets is a hassle and leaves currency holders at the mercy of market volatility which often can lead to people losing out on money due to delayed processing either by the exchange or the banks.

3. Lack of good customer support –Traders often complain of bad user experience due to the non-responsive customer support provided by many exchanges. Often it is either the lack of management staff to handle the requests or a lack of will which leads to a poor customer support. We identified that most of the exchanges do not spend enough on customer support. 

4. Security issues – the cryptocurrency space is often being bombarded by hackers who try to use the vulnerabilities present in the exchanges to their benefit. Many exchanges in the past have suffered cyber-attacks which has led to losses in the order of billions of dollars. Often, not following the industry standards and neglecting the basic rules of cyber security allow for such attacks to happen. Thus, exchanges do have a huge responsibility on their shoulders to protect the hard earned money of their customers.

5. Lack of awareness and education among the masses leading to a low adoption rate – Due to a lack of education and knowledge about the Blockchain and cryptocurrency space, people are reluctant to be a part of the cryptocurrency ecosystem which has led to the market being dominated by a select group of traders who are able to manipulate the market at will. This fluctuation and volatility further lowers the rate of adoption of cryptocurrency trading.

Thus, we got motivated by the idea that we can provide sustainable and progressive solutions to the above-stated problems through comprehensive planning and diligent work. Moreover, though Africa has the smallest share of the number of cryptocurrency exchanges when compared to the world (4% of the total exchanges) according to a study conducted by Cambridge University1 on cryptocurrency exchanges, the adoption rate is on the rise. This not only acts as a source of motivation but also puts a great deal of responsibility on our shoulders to deliver the best services to people belonging to developing and LDCs (Least Developed Countries).


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