Review on Koinex by Naomi Ilani
They Were Willing To Work But Never Got The Best Working Condition
TThere have been many records of companies that rise and fall. Having another don't seem new but the reason seems new to me.
The exchange platform in question is the Koinex exchange platform. The Koinex exchange platform is an Indian based and operated exchange platform that has been in existence since the year 2017. They have been able to rapidly make it up the ladder by offering their users one of the best services, some of which includes a nice trading interface and an affordable trading fee of 0.15% for both Makers and Takers. The exchange platform keeps getting better not until the year 2019 when they publicly announced their shut down.
Before now, I saw any exchange platform that shuts down as incompetent and not serious ones not until I came across the reason for which the Koinex exchange platform stopped its operations. In the public announcement, they made it clear that the reason for not providing services is because of how hard it is to comply with the rules laid down by the Indian government. I think this reason looks acceptable enough.
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Pros
- The exchange platform didn't stop functioning intentionally, it was because of the strict rules they have to abide by
Cons
- The platform doesn't function any longer
