Difference between revisions of "CoinField"

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(reddit: "Thanks for your reply. A few things just to mention here. While I cannot say for certain that this is a scam, there are certainly signs indicative of a scam. And in the world of cryptos, scammers are a dime a dozen. Exchanges need to prove)
 
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https://www.reddit.com/r/Bitcoin/comments/by2shk/potential_scam_coinfield/
'''CoinField''' is a fully-regulated European-based [[Cryptocurrency]] exchange serving 193 countries worldwide.<ref>Jose Antonio Lanz,{{cite news | last = | first = | title= XRP Chosen As Base Pair For 130+ Coins By Canadian Exchange Coinfield | newspaper =| location = | pages = | language = | publisher =ethereumworldnews.com| date =23 March 2019 | url =https://ethereumworldnews.com/xrp-chosen-as-base-pair-for-130-coins-by-canadian-exchange-coinfield/ | accessdate =25 February 2020}}</ref> The exchange offers the trade of 21 cryptocurrencies.<ref>{{cite news | last = | first = | title= Canada's CoinField Exchange Set To Launch Ripple And Stellar Trading Pair (XLM/XRP) | newspaper =| location = | pages = | language = | publisher =bitcoinexchangeguide.com| date =14 December 2018 | url =https://bitcoinexchangeguide.com/canadas-coinfield-exchange-set-to-launch-ripple-and-stellar-trading-pair-xlm-xrp/ | accessdate =25 February 2020}}</ref> It currently has more than 200,000 users and a daily trading volume of $30m USD.<ref>{{cite news | last = | first = | title= Crypto Exchange CoinField Unveils Secret XRP Project, Plans to Tokenize Stocks and ETFs | newspaper =| location = | pages = | language = | publisher =dailyhodl.com| date =15 October 2019 | url =https://dailyhodl.com/2019/10/15/crypto-exchange-coinfield-unveils-secret-xrp-project-plans-to-tokenize-stocks-and-etfs/ | accessdate =25 February 2020}}</ref>
 
 
 
==History and Founders==
 
[https://www.coinfield.com/ CoinField] was founded in April 2018 by Bob Ras, who is the current CEO of the company, and Reza Bashash, who is the CTO.<ref>Solomon Odunayo,{{cite news | last = | first = | title=XRP is Better than Ethereum – CoinField CEO, Bob Ras| newspaper =| location = | pages = | language = | publisher =techbullion.com| date =23 November 2019| url =https://newslogical.com/xrp-is-better-than-ethereum-coinfield-ceo-bob-ras/ | accessdate =25 February 2020}}</ref><ref name="NEWS">Khalid Lawal,{{cite news | last = | first = | title= SOLO & XRP Wallet Apps to Go Live on Apple Store & Google Play | newspaper =| location = | pages = | language = | publisher =newslogical.com| date =3 February 2020 | url =https://newslogical.com/solo-xrp-wallet-apps-to-go-live-on-apple-store-google-play/ | accessdate =25 February 2020}}</ref> Before the launching of CoinField, Bob had several successful ventures in manufacturing, marketing, and technology industries while Reza, an engineer and founder of several tech companies, has experience working in Artificial Intelligence and FinTech industries for more than ten years.<ref>Adrian Barkley,{{cite news | last = | first = | title=Ripple’s IPO Will Make The Firm Stronger According To The Sologenic CEO| newspaper =| location = | pages = | language = | publisher =cryptodaily.co.uk| date =20 February 2020| url =https://cryptodaily.co.uk/2020/02/ripple-ipo-firm-strong-ceo | accessdate =25 February 2020}}</ref>
 
 
 
The CoinField Head Office is currently located in Tallinn, Estonia. The company employs 35+ people with a variety of skill sets.<ref name="NEWS"/>
 
 
 
===Regulations and licences===
 
CoinField is fully regulated and compliant in 193 countries worldwide.<ref>Benjamin Pirus,{{cite news | last = | first = | title=Chainalysis to Monitor AML Compliance for Crypto Exchange CoinField| newspaper =| location = | pages = | language = | publisher =cointelegraph.com| date =21 February 2020 | url =https://cointelegraph.com/news/chainalysis-to-monitor-aml-compliance-for-crypto-exchange-coinfield | accessdate =25 February 2020}}</ref> There are 39 countries where CoinField does not offer service due to regulations.<ref>Anthonia Isichei ,{{cite news | last = | first = | title=CoinField Integrates Chainalysis KYT Surveillance Tool to Fight Money Laundering| newspaper =| location = | pages = | language = | publisher =btcmanager.com| date =21 February 2020 | url =https://btcmanager.com/coinfield-chainalysis-kyt-surveillance-tool-money-laundering/?q=/coinfield-chainalysis-kyt-surveillance-tool-money-laundering/&q=/coinfield-chainalysis-kyt-surveillance-tool-money-laundering/ | accessdate =25 February 2020}}</ref> CoinField does not currently operate in the United States but aims to start trading there soon.
 
 
In February 2020, CoinField partnered with [[blockchain]] analysis company ''Chainalysis''.<ref>Ali Raza,{{cite news | last = | first = | title= CoinField Partners With Chainalysis To Leverage KYT and AML Features| newspaper =| location = | pages = | language = | publisher =insidebitcoins.com| date =21 February 2020 | url =https://insidebitcoins.com/news/coinfield-partners-with-chainalysis-to-leverage-kyt-and-aml-features/251561 | accessdate =25 February 2020}}</ref><ref>Lili Chuang,{{cite news | last = | first = | title= Chainalysis Teams Up With Coinfield to Provide Crypto Compliance Solution| newspaper =| location = | pages = | language = | publisher =coinnewsspan.com| date = | url =https://www.coinnewsspan.com/chainalysis-teams-up-with-coinfield-to-provide-crypto-compliance-solution/ | accessdate =25 February 2020}}</ref><ref>{{cite news | last = | first = | title= Chainalysis to Monitor AML Compliance for Crypto Exchange CoinField| newspaper =| location = | pages = | language = | publisher =thebulletintime.com| date =23 February 2020 | url =https://www.thebulletintime.com/news/chainalysis-to-monitor-aml-compliance-for-crypto-exchange-coinfield/ | accessdate =25 February 2020}}</ref> The partnership allows CoinField to access the company’s Know-Your-Transaction (KYT) software, to prevent money laundering and to identify high-risk cryptocurrency transactions in real-time.<ref>{{cite news | last =Emilio | first =Janus | title= Chainalysis Enables Coinfield Exchange To ‘Know Your Transaction’ | newspaper =| location = | pages = | language = | publisher =bitcoinist.com| date =21 February 2020 | url =https://bitcoinist.com/chainalysis-enables-coinfield-exchange-to-know-your-transaction/ | accessdate =25 February 2020}}</ref><ref>{{cite news | last = | first = | title= CoinField Partners With Chainalysis To Leverage KYT and AML Features| newspaper =| location = | pages = | language = | publisher =elevenews.com| date = | url =https://elevenews.com/2020/02/21/coinfield-partners-with-chainalysis-to-leverage-kyt-and-aml-features/ | accessdate =25 February 2020}}</ref><ref>Arnab Shome,{{cite news | last = | first = | title= CoinField Taps Chainalysis’ KYT for Real-Time Crypto Monitoring| newspaper =| location = | pages = | language = | publisher =financemagnates.com| date =21 February 2020 | url =https://www.financemagnates.com/cryptocurrency/news/coinfield-taps-chainalysis-kyt-for-real-time-crypto-monitoring/ | accessdate =25 February 2020}}</ref><ref>Johnson Go,{{cite news | last = | first = | title=Coinfield and Chainalysis for crypto monitoring| newspaper =| location = | pages = | language = | publisher =cryptopolitan.com| date =22 February 2020 | url =https://www.cryptopolitan.com/coinfield-and-chainalysis-crypto-monitoring/ | accessdate =25 February 2020}}</ref>
 
 
 
==Fiats==
 
There are currently six fiat currency deposit and withdrawal options for CoinField customers. These are USD, EUR, CAD, GBP, AED and JPY.<ref>Chayanika Deka,{{cite news | last =Emilio | first =Janus | title= CoinField becomes Ripple’s verified validator; hints at upcoming XRPL project | newspaper =| location = | pages = | language = | publisher =eng.ambcrypto.com| date =11 October 2019 | url =https://eng.ambcrypto.com/coinfield-becomes-ripples-verified-validator-hints-at-upcoming-xrpl-project/ | accessdate =25 February 2020}}</ref>
 
 
 
===Cryptocurrencies===
 
FIAT currencies can be traded on CoinField’s platform for 21 cryptocurrencies including Bitcoin (BTC), Bitcoin Cash (BCH) Bitcoin Gold (BTG) Ethereum (ETH), Litecoin (LTC), XRP, USDT, USD Coin (USDC), ZEC (Zcash), Digibyte (DGB) Ox (ZRX) XLM, Golem (GNT), Auger (REP), OmiseGo (OMG), TRX, SALT, Zilliqa (ZIL), Civic (CVC), LOOM, BAT, DASH and SOLO.<ref>Adriana Hamacher,{{cite news | last = | first = | title= Coinfield to open up 30,000 stocks for crypto trading on Ripple's XRPL| newspaper =| location = | pages = | language = | publisher =finance.yahoo.com| date =15 October 2020 | url =https://finance.yahoo.com/news/coinfield-open-30-000-stocks-124720163.html?.tsrc=rss | accessdate =25 February 2020}}</ref><ref>Alex Dovbnya,{{cite news | last = | first = | title= 130+ XRP Pairs Being Added to Canada’s Coinfield Exchange| newspaper =| location = | pages = | language = | publisher =u.today| date =11 October 2019 | url =https://u.today/130-xrp-pairs-being-added-to-canadas-coinfield-exchange | accessdate =25 February 2020}}</ref>
 
 
 
==Products==
 
===Centralized Exchange===
 
The CoinField centralized exchange platform is hosted by CoinField's isolated servers and utilizes multi-signature cold storage wallets.<ref>Biraajmaan Tamuly,{{cite news | last = | first = | title= XRPTipBot links up with Canada’s CoinField to bolster XRP token adoption| newspaper =| location = | pages = | language = | publisher =eng.ambcrypto.com| date =25 July 2019 | url =https://eng.ambcrypto.com/xrptipbot-links-up-with-canadas-coinfield-to-bolster-xrp-token-adoption/ | accessdate =25 February 2020}}</ref>The exchange infrastructure is consistently audited by third parties to ensure compliance with the cybersecurity standards.<ref>{{cite news | last = | first = | title= XRP is on Fire as CoinField Mulls the Possibility of Using it as a Base Currency| newspaper =| location = | pages = | language = | publisher =cryptovest.com| date =26 September 2018 | url =https://cryptovest.com/news/xrp-is-on-fire-as-coinfield-mulls-the-possibility-of-using-it-as-a-base-currency/ | accessdate =25 February 2020}}</ref>
 
 
 
===Wallet and App===
 
CoinField operates a wallet management system to enable users to quickly and securely interact with their assets on the blockchain.<ref name="Daily">{{cite news | last = | first = | title= Mysterious ‘Game Changing’ XRP Project Underway, Says Crypto Exchange CoinField | newspaper =| location = | pages = | language = | publisher =dailyhodl.com| date =12 September 2019 | url =https://dailyhodl.com/2019/09/12/mysterious-game-changing-xrp-project-underway-says-crypto-exchange-coinfield/ | accessdate =25 February 2020}}</ref> CoinField’s mobile app allows users to evaluate charts on multiple time frames to facilitate informed crypto trading decisions. <ref>{{cite news | last = | first = | title= CoinField announces an incentive program for Open Source Developers within Sologeni| newspaper =| location = | pages = | language = | publisher =globenewswire.com| date =4 December 2019 | url =https://www.globenewswire.com/news-release/2019/12/04/1956137/0/en/CoinField-announces-an-incentive-program-for-Open-Source-Developers-within-Sologenic.html | accessdate =25 February 2020}}</ref>
 
 
 
Wallets are directly synchronized to the blockchain and hosted securely on private isolated servers to ensure secure transactions.The app is available on both the App Store and Google Play.<ref name="Daily"/>
 
 
 
===OTC Trading Desk===
 
CoinField’s Institutional Account & Over the Counter (OTC) Trading Desk enhances the execution of larger trades for corporate and high-net-worth individuals by offering more substantial liquidity, fast settlements, and privacy for each trade.<ref>Adrian Zmudzinski,{{cite news | last = | first = | title= Crypto Exchange CoinField Launches XRP Validator, Teases New Ecosystem| newspaper =| location = | pages = | language = | publisher =cointelegraph.com| date =7 October 2019| url =https://cointelegraph.com/news/crypto-exchange-coinfield-launches-xrp-validator-teases-new-ecosystem | accessdate =25 February 2020}}</ref> There are no trading fees, and clients get a dedicated account manager.<ref>Carlos Terenzi,{{cite news | last = | first = | title= What’s CoinField XRP Project All About?| newspaper =| location = | pages = | language = | publisher =usethebitcoin.com| date =| url =https://usethebitcoin.com/whats-coinfield-xrp-project-all-about/ | accessdate =25 February 2020}}</ref> CoinField is in the process of extending its OTC services to 24 hours a day.<ref>Jimmy Aki,{{cite news | last = | first = | title= Canadian Platform to Become the Major Global Crypto Exchange by Expanding to 100 Countries| newspaper =| location = | pages = | language = | publisher =cointelegraph.com| date =15 January 2019| url =https://cointelegraph.com/news/canadian-platform-to-become-the-major-global-crypto-exchange-by-expanding-to-100-countries | accessdate =25 February 2020}}</ref>
 
 
 
===White Label===
 
CoinField offers a white label package for customers looking to start their exchange using CoinField’s software. CoinField’s centralized exchange has a team of 35+ experts with extensive experience ranging from blockchain to high-frequency trading software implementation.<ref name="CRD">Samantha Hurst,{{cite news | last = | first = | title= Canada’s CoinField Debuts White Label Crypto Exchange Software Licensing Program| newspaper =| location = | pages = | language = | publisher =crowdfundinsider.com| date =20 February 2019| url =https://www.crowdfundinsider.com/2019/02/144717-canadas-coinfield-debuts-white-label-crypto-exchange-software-licensing-program/ | accessdate =25 February 2020}}</ref>
 
 
 
The white-label exchange package includes access to CoinField’s deep liquidity pool to satisfy demand during the high peaks of trading activity, as well as 200+ digital assets, military-grade security systems, market pairing against fiat currencies, and more.<ref name="CRD"/>
 
 
 
===Sologenic===
 
Sologenic is a project backed by CoinField.<ref>Rajarshi Mitra,{{cite news | last = | first = | title= Coinfield to initiate new stocks on the popular XRP ledger (XRPL) | newspaper =| location = | pages = | language = | publisher =fxstreet.com| date =16 October 2019 | url =https://www.fxstreet.com/cryptocurrencies/news/coinfield-to-initiate-new-stocks-on-the-popular-xrp-ledger-xrpl-201910162255 | accessdate =25 February 2020}}</ref> Sologenic aims to facilitate the mass adoption of cryptocurrency.<ref>Ali Raza,{{cite news | last = | first = | title=Sologenic, an XRP Ledger Project by Coinfield, Might Get Stock Trading Ledger Boost| newspaper =| location = | pages = | language = | publisher =bitcoinexchangeguide.com| date =4 November 2019| url =https://bitcoinexchangeguide.com/sologenic-an-xrp-ledger-project-by-coinfield-might-get-stock-trading-ledger-boost/ | accessdate =25 February 2020}}</ref> Built on the XRP Ledger, the Sologenic ecosystem allows trading and investing of 30,000 tokenized stocks and ETFs from 30+ global exchanges.<ref>Udit Agarwal,{{cite news | last = | first = | title= CoinField unveils ‘secret’ XRP Ledger project, Sologenic| newspaper =| location = | pages = | language = | publisher =headlinesoftoday.com| date =21 October 2019 | url =https://www.headlinesoftoday.com/business/coinfield-unveils-secret-xrp-ledger-project-sologenic.html | accessdate =25 February 2020}}</ref><ref>Angela Scott-Briggs,{{cite news | last = | first = | title=CoinField’s Project Sologenic to Allow Stock Trading on Ripple’s XRP Ledger: An exclusive interview with Bob Ras – the founder of Sologenic| newspaper =| location = | pages = | language = | publisher =techbullion.com| date =1 November 2019| url =https://techbullion.com/coinfields-project-sologenic-to-allow-stock-trading-on-ripples-xrp-ledger-an-exclusive-interview-with-bob-ras-the-founder-of-sologenic/ | accessdate =25 February 2020}}</ref>
 
 
 
Sologenic will enable people all around the world to buy stock in their favorite companies using SOLO.<ref>{{cite news | last = | first = | title= Sologenic IEO Will Be Launched on CoinField Exchange on February 18th | newspaper =| location = | pages = | language = | publisher =finance.yahoo.com| date =21 January 2020 | url =https://finance.yahoo.com/news/sologenic-ieo-launched-coinfield-exchange-150000076.html | accessdate =25 February 2020}}</ref> SOLO holders will also have the ability to spend their cryptocurrency anywhere in the world with the use of Crypto Cards.<ref>Rajan Dhall,{{cite news | last = | first = | title= CoinField coy on new XRP project| newspaper =| location = | pages = | language = | publisher =fxstreet.com| date =26 August 2019 | url =https://www.fxstreet.com/cryptocurrencies/news/coinfield-coy-on-new-xrp-project-201908262000 | accessdate =25 February 2020}}</ref>
 
 
 
Sologenic had its Initial Exchange Offering (IEO) from February 18-25 2020, and live trading launched on CoinField’s exchange on March 2nd 2020. The first trading pairs available were USD, USDT, USDC, XRP, GBP and EUR.<ref>{{cite news | last = | first = | title=CoinField Sologenicの初めてのIEO (initial exchange offering) を行う予定と発表| newspaper =| location = | pages = | language = | publisher =coinpost.jp| date =| url =https://coinpost.jp/?post_type=pressrelease&p=133029 | accessdate =25 February 2020}}</ref><ref>{{cite news | last = | first = | title=CoinField Launches Sologenic Initial Exchange Offering | newspaper =| location = | pages = | language = | publisher =globalcoinreport.com| date =19 February 2020 | url =https://globalcoinreport.com/coinfield-launches-sologenic-initial-exchange-offering/ | accessdate =25 February 2020}}</ref><ref>{{cite news | last = | first = | title= Sologenic IEO Will Be Launched on CoinField Exchange on February 18th | newspaper =| location = | pages = | language = | publisher =finance.yahoo.com| date =21 January 2020 | url =https://finance.yahoo.com/news/sologenic-ieo-launched-coinfield-exchange-150000076.html | accessdate =25 February 2020}}</ref>
 
 
 
==Franchising==
 
CoinField offers entrepreneurs the opportunity to franchise CoinField’s brand. Franchise customers can start a CoinField franchise in their own country and have access to CoinField’s services, portfolio of coins, and profit-sharing.<ref>{{cite news | last = | first = | title= CoinField Introduces Crypto Exchange Franchises in 15 Markets| newspaper =| location = | pages = | language = | publisher =globalfintechseries.com| date =23 January 2020 | url =https://globalfintechseries.com/coinfield-introduces-crypto-exchange-franchises-in-15-markets/ | accessdate =25 February 2020}}</ref>
 
 
 
Currently, franchise opportunities are available in Argentina, Australia, Bahrain, Brazil, France, Japan, Malaysia, Mexico, New Zealand, Qatar, Russia, Saudi Arabia, Singapore, South Korea, UAE, United Kingdom, and the USA.<ref>{{cite news | last = | first = | title= CoinField Introduces Crypto Exchange Franchises in 15 Markets| newspaper =| location = | pages = | language = | publisher =globalfintechseries.com| date =23 January 2020 | url =https://globalfintechseries.com/coinfield-introduces-crypto-exchange-franchises-in-15-markets/ | accessdate =25 February 2020}}</ref>
 
 
 
==See also==
 
* [[Sologenic]]
 
 
 
==External Links==
 
* [https://www.sologenic.com/ Sologenic website]
 
 
 
==References==
 
 
 
[[Category:Exchanges]]
 

Latest revision as of 12:59, 28 July 2020

CoinField
IndustryBitcoin & Cryptocurrency Exchange
Founded2018
HeadquartersTallinn, Estonia
Founder(s)Bob Ras
Reza Bashash
Websitehttps://www.coinfield.com/

https://www.reddit.com/r/Bitcoin/comments/by2shk/potential_scam_coinfield/