Blockchain is a keep-changing technology where dozens of new projects are born every single day. There are opportunities to become rich overnight and yet there are frauds raging everywhere.

As a Platform Stays Alert for Red flags

Crypto veterans or analysts incessantly told investors not to pour money in before researching and reading the whitepapers. $SQUID took a rapid nosedive in mere five minutes and there were indeed lots of red flags before the catasphrophic rug pull incident.

Firstly, there were a bunch of spelling and grammatical errors in its whitepaper and the project's website had registered only for a month. It was more suspicious that the token based on a Netflix's show had no relation to the production team. That seemed to be a perfect trap to take advantage of the series' popularity and supporters. On top of that, the in-game mechanism made selling of the tokens way more difficult than buying them.

As a Platform Only Lists Stable and Secure Coins

According to FAMEEX executives, the above-mentioned case is why exchanges should be far more cautious about new coin listings. As a trading platform providing user-centered services, FAMEEX, aiming to provide a safe investing journey, wants to act as the gate-kepper of any wrongdoings for users.

FAMEEX started its trial operation in September 2019 and officially launched services on 1st of January 2020. It intends to provide a safe and stable investing journey while allowing users to keep up with the current crypto trends in the meantime. Therefore, there are indeed a set of rules before providing service of new coins.

Strict Coin-listing Process

According to FAMEEX's internal codes of reviewing new projects, normally they will undergo a thorough evaluation to see if there are any potential risks behind it. Since they put users as the top priority, any exploitation such as the rug pull tragedies of $SQUID and $TZKI will not be allowed on their platform.

Secondly, FAMEEX has high demand for the project's team in various fields and especially the whitepaper should be ready for reviewing. Only when the practical technology declared by the project team is of clear pragmatic benefit does FAMEEX evaluate the possibility of listing it. Lastly, the certain project needs to meet the regulatory requirements without any compliance risk.

About FAMEEX

FAMEEX has dedicated in providing safe, stable and fast trading experience for users. Since the priority of FAMEEX is security and safety, it only offers the mainstream cryptocurrencies having no exploitation concerns. FAMEEX offers services including, grid trading, perpetual futures contract, spot trading and super commission rebate program.

With a four-layer ladder encryption protection mechanism, users who trade on FAMEEX hardly need to consider the safety issue while enjoying relatively low trading fees. The basic spot trading fee is 1‰ while the futures trading fee is 0.2‰. Through constant optimizations, FAMEEX hopes to offer a more enjoyable trading journey for users who can trade straightforwardly.

Find FAMEEX on:

Official Website: https://www.fameex.com/

Twitter: https://twitter.com/FameexGlobal

Telegram: https://t.me/fameexgroup

Trade on-the-go with FAMEEX's crypto trading app (iOS/Android)