Users of the NEM community who register at www.cryptofacil.com with the Promo Code NEMFREETRADES will have FREE TRADES until 31/3!
Cryptofacil is a cryptocurrency trading platform that launches its operations from Latin America but with global projection, and that with the support of the Bittrex engine and security it promises to be a differential within the existing trading options in the region.
NemEspañol - What has been your trajectory in exchanges or the market of exchanges assets?
Andres Szafran - For many years now, both my partners and I have worked, each one separately, in the technological sectors of telecommunications, finance and entertainment, but we found Blockchain technology really disruptive and decided to start a new project in that area. Personally, I began to trade different tokens on several platforms: Bittrex, Poloniex, Xapo and Bitstamp among others. What happened to me in almost all cases, was that I saw that the user interface of the exchanges that I tested was more thought for professional traders or people who had some prior knowledge than for new people who came for the first time to inquire about the topic. They were not simple to understand the exchanges with which I tried to trade and I saw that they did not support in Spanish.
NemEspañol - What was your first approach to cryptocurrency or blockchain?
Andres Szafran - While one part of the other, we must differentiate Blockchain technology from cryptocurrencies.
My first approach was with the Blockchain ecosystem and particularly with Bitcoin. What struck me the most was beyond the possibilities brought by the blockchain technology, and it can have the same potential as the launch of the Internet at the time. Internet when it was launched was only for military and academic use, without great uses or access possibilities for the consumer market. The technology was perfect, there was a debacle of the .com, today the whole world lives thanks to the Internet. I believe that the Blockchain technology is just beginning and the cases of use of information by the consumer market are beginning to develop, but I see a future where society can be tokenized, coexisting in parallel with the current reality in the matter of means of payment. For that there is no maturation in technology. Blockchain and that much more adoption by people to cryptocurrencies.
NE - When did the idea of CryptoFacil Exchange start?
Andres Szafran- In October 2017, the idea of developing an Exchange of cryptocurrencies focused on the public in Latin America and the Caribbean, but with a global reach, was born as such. The 4 Co-Founders of Cryptofacil had in separate form the idea of undertaking in the Blockchain world. We met a couple of times and decided to develop a project together the 4 instead of each developing something on their own. That’s how Cryptofacil was born. We detected that there was a space in the region to launch a trading platform with support for a large number of tokens, with a nice and simple interface for users, and that did not have so many complicated functionalities but the most used features by traders . With Cryptofacil we develop an exchange where the new users of the crypto world do not get scared when they want to get closer to know about the topic.
When we started talking with the Bittrex team we realized that they were the perfect partner for what we wanted to do. Luckily they saw in us a serious and qualified team, with a clear idea of what we wanted to do which was aligned with their expansion project.
NE - How do you see the regulatory issue in the region for the launch of an exchange like yours?
Andres Szafran- As we are using the Bittrex trading engine, all the operations carried out by the Cryptpofacil users are executed under their platform. And being a US platform (Bittrex), they follow the guidelines of the regulatory issue of that country.
But beyond that, there are very few countries in Latin America that have begun to work on the regulatory issue of cryptocurrencies. In other parts of the world there are countries that not only have already regulated this issue but are making specific laws to encourage the development of the Blockchain industry, such as Malta, Switzerland and Liechtenstein for example.
NE - How is Crypto Fácil Exchange different from other exchanges in the region?
AS- We understand that with the launch of Cryptofacil, users in the region will benefit from it through different aspects:
Platform & Security
The engine that is behind Cryptofacil supports hundreds of thousands of trades per minute, including Bittrex has just made a very large update in its trading engine in recent days, which puts them at the forefront of trading technology. We are also in the same way covered by the Bittrex security system that has been one of the few exchanges that have not suffered massive computer attacks. The tokens deposited in Cryptofacil are stored in Bittrex, which maintains a policy of permanently having more than 90% of its funds in cold wallets.
The issue of liquidity is very important for users because when they place an order in an exchange, be it purchase or sale, they often do so with the idea of executing their trade immediately. For this to happen, the exchange must have many thousands of users generating orders concurrently, so that there is sufficient demand and supply in the tokens supported by the exchange. That’s where we differ a lot from the other exchanges in the region. Thanks to the fact that we are part of the engine and pool of Bittrex partners, we belong to a “repository” of orders in which all orders of sale and purchase of Bittrex and its partners are found. In this way we can give greater security to Cryptofacil users that their orders will be executed in the shortest possible time.
In terms of commissions, Cryptofacil does not charge any commission on the Market Orders and charges a commission of 0.25% on the Limit Orders, which is a very important differential if we compare with the commissions charged by other exchanges in the region. Since we just launched, and we want everyone to try our platform, we decided to offer the NEM community a FREE TRADES promotion until 31/3! Just register on our website www.cryptofacil.com and use the Invite Code "NEMFREETRADES".
We offer our users the possibility to trade with more than 230 currencies, with pairs BTC, ETH, USDT and USD (above 390 pairs). There is no exchange in the region that has so many tokens listings.
Purchase of BTC with VISA and Mastercard Cards
From Cryptofacil we give the possibility to users to buy Bitcoins using their VISA and Mastercard, with a minimum purchase from 50 USD. In this way users who wish to start buying and trading cryptocurrencies with low initial amounts avoid the high costs of bank drafts.
In terms of withdrawals, we support the withdrawal of all the tokens we support and in the specific case of withdrawals in USD we can make bank transfers for users who wish to withdraw from USD 3,000. The latter implies a specific KYC process by the user.
NE - Are you going to hold the offer of the +230 coins and +390 pairs in trading?
AS - While we have the ability to support the currencies and pairs that Bittrex and Bittrex International have, it does not mean that we will always support all pairs. It is important to listen to users and see which currencies and pairs generate a demand and which do not.
NE - Why was it important for you to consider NEM in your trading portfolio?
AS- For several reasons. First of all we know the team behind NEM and we know about their professionalism. Last year at the Blockchain Summit in Uruguay I had the opportunity to speak with several of them, including Pedro Gutiérrez, and I was impressed with the roadmap of the project. Second, we know that the Latin American community of NEM is very important and of the largest in relation to other Blockchain projects. And last but not least, NEM is a token that has been in the top 20 of capitalization for quite some time now, and it is logical that we want to give support in Cryptofacil to this type of important projects.