What is Coinone?
Coinone is a South Korean based platform for crypto exchange. The exchange of crypto is possible against Korean won, the currency of South Korea. In order words, the trading pair is crypto to flat currency.
Coinone has a motive to bring Bitcoin to the masses. It is a platform that allows to buy, sell or store Bitcoin, Ether and Ether Classic. Recently Coinone has added another cryptocurrency called XRP to its platform. Surprisingly it has taken over Ethereum market in a very short span of time.
In an international market, there is little demand for XRP and more demand for the XRP/KRW and BTC/KRW trading pair. XRP/ KRW pair has generated almost $5.7m.
Coinone uses Multisig Wallet Technology in partnership with Bitgo(block chain security firm in California). Coinone is also the first Asian exchange to implement this technology. Multisig technology adds an extra layer of protection on a wallet. The technology requires more than one signature to approve a transaction.
Coinone also has the facility of a mobile wallet. A device with Android version 4.0.3 can download the wallet. This wallet allows a user to control funds such as depositing the money and exchanging it for Bitcoins. A reverse exchange is also possible i.e. Bitcoin can be exchanged for Korean Won. A trade wallet option is also present allowing convenient trading option on the go. The user Interface is both easy and convenient.