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Coinlocally: A Crypto Exchange With the Goal To Create Bank DEX

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What is Coinlocally?

Coinlocally is a crypto exchange that offers advanced financial services. The exchange relies on blockchain technology to provide everything needed for trading and investment and supports hundreds of tokens and trading pairs. Its native cryptocurrency is CLYC. The main goal of Coinlocally is to create a Bank Decentralized Exchange or Bank DEX.

Launched in 2022, Coinlocally provides spot, convert, on/off ramp crypto, and various options that users need for logic trading and investment. The platform provides a safe, reliable, and stable environment for crypto trading via web and a mobile app. On Coinlocally, users can increase the security of their accounts with various methods. The products and services are always tailored to users’ needs and suggestions.

Coinlocally Exchange Details

Website https://coinlocally.com/
Native Token CLYC
Number of supported coins More than 300
Fiat Currencies USD, RUB, GBT, EUR
Available on Mobile Android and iOS

Latest Developments and Partnerships

Recently, Coinlocally partnered with the world’s largest digital asset platform Binance. Through this, Binance served Coinlocally with the infrastructure needed to build its own crypto Futures platform with 125X leverage. Following this partnership, Coinlocally began working as a Binance Exchange Broker.

Furthermore, Binance supports the on and off crypto ramps of the company by providing it with fiat pairs. Additionally, financial service provider Mercuryo supports Coinlocally by providing crypto and fiat currencies, such as USD, RUB, GBT, EUR, etc., to the exchange platform.

Current Services and Future Ventures

CLYC Coin

Coinlocally will launch its native token Coinlocally Coin or CLYC in Q3, 2022. The platform claims that a strict amount of one billion CLYC tokens will be produced in total and will run on the BEP20 blockchain network. The CLYC token will be issued on the BNB chain as a BEP-20 token.

Coinlocally NFT

Coinlocally launched its NFT marketplace in July with unique and exclusive NFT collections for the platform users. Users can connect their wallets to the NFT marketplace by clicking on the wallet icon. They can also create their own collection by clicking on ‘My Collections’ and adding banner images, social links, and descriptions, and set a secondary sales fee. Notably, users can purchase their NFTs without any extra fees in July.

The Coinlocally NFT marketplace is focusing on the mining, storage, and trading of NFTs by top digital content creators globally. It will allow customers to access premium and exclusive NFTs by renowned artists.

Angel Program

The Angel program of Coinlocally provides a 40% commission or 10,000 USD monthly for the people of the following categories: well-known social media influencers with more than 10,000 followers or owners of an organization, website, or community group with over 10,000 users. Also, these users will have to bring 1,000 new users to the platform via their link or Angel ID

With this scheme, the mentioned users will get tasks to look after and will have to develop Coinlocally. Currently, the platform seeks help teaching new users to use the platform, responding to users’ questions and comments, and testing and giving early feedback for the beta version. Furthermore, influencers will also have to do promotional activities and translate multi-cultural languages on the platform.

Available Cryptocurrencies

Bitcoin (BTC) Avalanche (AVAX)
Ethereum (ETH) Shiba Inu (SHIB)
BNB (BNB) Uniswap (UNI)
XRP (XRP) Wrapped Bitcoin (WBTC)
Cardano (ADA) Litecoin (LTC)
Solana (SOL) FTX Token (FTT)
Dogecoin (DOGE) Ethereum Classic (ETC)
Polkadot (DOT) NEARProtocol (NEAR)
Polygon (MATIC) Chainlink (LINK)
Some of the cryptocurrencies supported by Coinlocally

Spot Trading Platform

Coinlocally now provides spot cryptocurrency trading instruments in mobile applications for both iOS and Android-based smartphones and laptops. Through this, traders will be allowed to trade their favorite property from the home, office, etc. Coinlocally’s spot trading looks attractive to both professional traders and newcomers to the crypto, as it is available through an intuitive and feature-rich interface. 

The spot trading module has more than 100 assets, including crypto heavyweights BTC and ETH, new DeFi coins like AAVE and 1INCH, top-notch USD-pegged stablecoin UST, USDC, GUSD, TUSD, and major PoS cryptocurrencies ADA and MATIC.

Futures Platform

Coinlocally also added a futures trading module to its mobile application. With futures, traders can profit from price fluctuations in any direction with worthful leverage. Additionally, in bear markets, traders can make gains from short-position trading.

Savings Module Platform

The savings module feature of Coinlocally is available in both the web interface and mobile applications. It serves users with flexible lending programs with a high Annual Percentage Yield (APY). Users can transfer their tokens to savings accounts with zero additional commissions.

Crypto holders of this savings module can lock their assets for a specific period and then receive periodic payments on their inactive crypto money.  As Coinlocally supports spot and futures trading modules, the savings accounts of the platform work with Bitcoin, USDT, and other major altcoins.

Referral Program

The referral program of Coinlocally allows users to earn up to a 20% commission fee if they refer the platform to their friends. Users can give discounts to friends on trading fees on spot and futures platforms. For this, users have to share their unique referral link with their friends and earn crypto whenever the friends start trading.

Conclusion

There are many emerging cryptocurrency exchanges promoting their platform with unique decentralized features. Coinlocally is basically a new generation of cryptocurrency exchange, with the unique goal to become a completely decentralized platform. The crypto exchange deploys blockchain technology to provide its financial services for trading and investment. The safe, stable, and reliable features of the platform enable users to increase the security of their accounts with various methods.

Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CQ. No information in this article should be interpreted as investment advice. CQ encourages all users to do their own research before investing in cryptocurrencies.

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