Users can entrust professional traders to perform trades utilizing their funds. Geco.one protects users by offering built in stop loss, trader records, and no time limit on investments. Users can check out the trader’s record and select one who has a good rating. The user also has the option to withdraw their investment at any given stage of the process. According to Marcin:
“Geco.one is a global PAMM platform that allows Cryptocurrency Futures Trading which offers short and long positions on crypto assets using leverage. Geco.one, is one of the first platforms in the world to move tried and tested solutions from Forex to the Crypto market.”
The IEO Route and Legality
Instead of using the traditional ICO route, Geco.one has decided to use to a safer and secure IEO method. In ICOs, the investors pay directly to the team, which offers little to no assurance that the team will deliver on promises. In an IEO, an exchange that has much more stringent rules and checks on the token and platform developers gives backers a level of assurance. Marcin said:
“Though ICOs have been in decline, the Initial Exchange Offerings (IEOs) have been gaining much attention recently because of the rise in popularity and the rapid sales cycles that are reminiscent of ICOs. An IEO is an ICO except that it is launched and managed by an existing exchange instead of the organization that created the token. The exchange holds and sells the token on behalf of the project team. This small change has brought about significant improvements to the entire process. I think that the cryptocurrency sector is evolving at a swift pace. Today, IEOs are furthering the impetus for the market, and may even contribute to faster mainstream adoption of cryptocurrency as a whole.”
Marcin also prefers the IEO model, since it has more legal protection for all parties involved:
“Exchanges will commonly have a well-organized legal structure that protects them from regulatory consequences. Well-developed exchanges can offer legal advice and clarity as well as access to a full legal team to help nascent start-ups traverse through the minefield that is the blockchain industry. The exchange will also commonly have some Know-Your-Customer (KYC) verification required to use its services. With ICOs, all you needed was an Ethereum address. Though IEOs are more restricted than ICOs, it does not mean that they are safe from regulators completely. That is why partnering with reputable exchanges is so important.”
LATOKEN and COINEAL
“The goal here is to work with the right platforms. We will work with the right platforms to raise funds in the most efficient way both for us and our investors. Primarily, an IEO happens through the facilitation of the cryptocurrency exchange. Notably, all our investors need is an account with the exchange and some cash in their deposit accounts.”
During development, the Geco.one team spent a considerable amount of time selecting the exchanges to launch their tokens, citing good reputation, excellent security and a broad range of users:
”During our research, we discovered that COINEAL had achieved a strong reputation globally. Simultaneously, COINEAL has also become the most influential digital asset exchange in a wide range of countries. As of March 2019, there are 2 million users from 40+ countries trading on Coineal, with daily transaction volume exceeding over 1bln dollars.”
He further said,
“LATOKEN is a rapidly growing crypto assets exchange focusing on creating liquidity for new tokens. LATOKEN entered CoinmarketCap’s Top-20 in March 2019 and hasn’t looked back, with over $400m daily turnover and more than 300.000 registered traders.
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Media Contact Details
Contact Name: Marcin Wituś
Contact Email: [email protected]
Geco.one is the source of this content. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. Cryptocurrencies and tokens are extremely volatile. There is no guarantee of a stable value, or of any value at all. Token sales are only suitable for individuals with a high risk tolerance. Only participate in a token event with what you can afford to lose.