CoinMetro AMA: December 18, 2020

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CoinMetro AMA: December 18, 2020

Quant Staking is now LIVE!

If you are holding QNT on deposit in CoinMetro… you are getting staking rewards RIGHT NOW! Paid in XCM at a rate of 2.5% or 5% per year, AND the rewards are updated every four hours.

How many ‘soons’ until CAD?

1,000 retweets on a tweet for Canadian dollars on the exchange and we’ll add it :)

We need there to be a proven demand before we spend on supporting additional currencies, we are aiming to focus spending on high impact updates. If people want CAD we will support CAD.

Volume on CoinMetro is up a lot recently! What is the increased revenue allowing you to do?

We are still below the burn rate. So it isn’t necessarily that cut-and-dry. So mainly going to expenses. But it allows us to have some breathing room and most money we have set aside is for marketing.

Is it secure to hold QNT on CoinMetro?

Your money is secure on CoinMetro! We have countless protocols in place to keep your money safe. Kevin goes very in-depth to explain what our employees are doing to remain secure and avoid any issues.

What do you think about the future of Quant?

As CEO, Kevin must be careful with speculating. But simply put, he thinks they are great and views them very positively. CoinMetro would not be working with them if we didn’t feel they could help benefit our community.

How does CoinMetro use the QNT that is being staked on the platform?

CoinMetro does not directly make money from clients depositing QNT. However, that does potentially mean a new client. And a new client with QNT liquidity, which we want.

We have great features on our platform, and even more coming in the future. So we are confident that when a user comes to us, they will fall in love and use our other services as well. In fact we are SO confident, we are going to pay you to come check us out!

Will you do the #OneChipChallenge when XCM reaches 10c?

Kevin has no clue what this is. But he lived in Mexico so he can probably handle it.

Will you set up a QNT gateway?

We are ready to support the Quant community any way, shape, or form that we possibly can. We have a couple of employees looking at gateways and ready to handle the setup project and any frontend requirements when the time comes. The question is “When gateways?”, not a question we can answer ;)

Do you plan on expanding the QNT staking sum of 50,000 XCM if the QNT inflow continues to be that strong?

Short answer, yes. We will have to look at metrics when that time comes to be sure, but that is definitely something to which we are open.

What is the future relationship between Quant & CoinMetro?

Honestly, whatever Quant comes to us and asks us to do… we will do it (within reason). Kevin sees the two communities as almost one-in-the-same!

How many individuals made QNT deposits?

Nearly $2,000,000 worth of QNT Tokens were deposited to CoinMetro over the first few days. This number is still growing and ties to over 100 users moving in funds.

QNT Staking Launched on CoinMetro

What do you think of Coinbase taking their business to the stock exchange?

This is something Kevin has figured would happen for a while. Tokenization will grow and as it does, it will evolve into traditional finance.

CoinMetro has a bunch of ships in the water at the moment, how does the company prioritize tasks/opportunities?

There’s a dart board in the office.

Just kidding.

In the past the priority has been building a solid ecosystem of products. We are NOW shifting to prioritizing GROWTH.

Why does it appear no more XCM are being locked in the vault?

This is not accurate. There is just a new vault, Devs now updates this!

What are your thoughts about Kraken adding support for bitcoin Lightning? Might CoinMetro consider this?

CoinMetro is always and forever OPEN to CONSIDERING anything our community wants.

What are the exact amounts and times that funding is coming in? Will there be announcements?

When deals are closed, announcements will be made. We obviously can’t divulge before then.

There is low liquidity and trading volume for XCM on Uniswap.

CoinMetro does not directly support that. This would be against AML policy and put our community at risk.

We are considering a way of rewarding users for providing liquidity there, however.

My bank blocked a USD deposit due to them not working with PrimeTrust LLC due to fraud claims. Can you comment on this?

Fraud does not happen at PrimeTrust, but people do sometimes defraud THROUGH it.

This user must have been trying an ACH deposit. And it happened to us as well once actually! Kevin gives a good explanation of how some bad users take advantage of the services of PrimeTrust. It is actually quite simple. Banks are just tired of having to deal with it.

However, they themselves are a solid company and it doesn’t mean you working with them is a risk.

Any upcoming security token listings in Q1 of 2021?

We expect TWO to launch in January!

Is there now a liquidity provider on the PRQ/EUR pair? The book is lively and the spreads are small.

PRQ does have an LP, but Kevin is not sure if that is even in use. He believes the changes you see could be just from more users trading on the platform.

I tried to get my friends in New York but they couldn’t make an account.

Correct. New York state requires the bit-license. We are a fully regulated exchange and we follow the law. Therefore, we cannot serve clients from New York at this time.

But this is something we are planning to resolve in the future.

Do you think of Parsiq has the ability to basically stop scams in crypto? The defender initiative was game changing.

When looking at this from a business standpoint (regulation, law & order, protecting clients), Kevin thinks it is great! This is more of crypto going “traditional” as mentioned earlier in the AMA.

USD has instant deposits on CoinMetro. Are there plans to expand to other parts of the world?

Absolutely! We do allow debit, credit cards which is basically instant. But yes, we are hoping to find quality solutions in those other parts of the world to keep us, and clients, safe.

What is the best vacation you have ever been on?

Kevin has not gone anywhere on a personal level for more than 5 days. And even then he has always had to do work everyday anyway.

He takes his daughter to Disney all over the world. That is their thing. But while standing in line… he’s working.

If the CM bond does not pull in decent funding, will that discourage others in listing their tokens on Ignium?

Kevin would say no, absolutely not.

Many of these companies that come to us, will already be bringing in many of their own investors. We are growing the userbase everyday, including with each security token listed.

How is marketing going in the US?

When asked this last time the number was at 70. Now it is up to about 260. And PrimeTrust is getting quicker everyday in approvals.

When will the new app be released?

We are going back and forth with the developer right now. Being transparent as he always is, Kevin admitted they are not seeing eye-to-eye at the moment. BUT we are getting very close!

Is IOTA on your radar for listing on CoinMetro?

It is on the short list! We have been talking for some time about this, but it is coming soon.

What is the future for Basecamp? Will they try to raise funds on CM again?

That could happen. It looks like some bank financing will get the funds required. But there could be a small listing again in the future.

Next Friday is Christmas… will you do another AMA?

Kevin Murcko aims to please! If the CoinMetro community will be there to watch… HE’LL BE THERE!

Although longer than 30 minutes his wife would kill him. But sacrifices must be made!

https://www.youtube.com/watch?v=SDyu1dQ6M1A&t=1s

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A one-of-a-kind, fintech platform fueling the future of blockchain innovation. [Join our Telegram Group https://t.me/CoinMetro]

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