Ecoins launches as new Brazilian Bitcoin / Litecoin exchange

Ecoins Brazilian Bitcoin / Litecoin Exchange
Ecoins Brazilian Bitcoin / Litecoin Exchange

Bitcoin is on the rise in Brazil, in fact, in October 2013, Brazil introduced a law that allowed for the regulation of Bitcoin. This shows the extent to which Bitcoin acceptance is growing in Brazil. In this fast growing Bitcoin market, a new Crypto Currency Exchange called Ecoins has just launched.

 

Ecoins is an online Crypto currency Exchange where one can trade Bitcoins and Litecoins as of now. Developed by the company New Vision, Ecoins is a platform where one can trade crypto currencies in real time, in the utmost secure and agile environment.

 

General Website

A somewhat unique feature is the site allows trade in in both Bitcoin and Litecoin at launch. The site posts a live Bitcoin and Litecoin asking price in terms of GBP. Moreover, it also displays a live graph of the Bitcoin and Litecoin prices, volume, and transactions made. It also provides an order book which shows all recent orders (Amount, Unit Value and Total Value) for both Bitcoin and Litecoin transactions.

 

Registration

Creating a user account is easy. In the New Registration tab, after reading the Terms of Use, one can fill in a few details and open an account. Basic details such as the CPF, Email, Name and Password are necessary to create an account. The Cadastro de Pessoas Físicas (CPF), which is Portuguese for Natural Persons Register, is a unique number attributed to each taxpayer in Brazil by the Brazilian Revenue Agency. This number is similar to the Social Security Number issued by the Internal Revenue Service of USA. The Terms of Use clearly state that the website would not share any user details whatsoever. Apart from this, it also provides answers for many general concerns in the simplest language possible. After registering, one can login the website through the Login tab using just the email and password.

 

After Logging In

After Logging in, the website provides dashboard containing different currency balances (Reais, Bitcoin, Litecoin), Active Orders of Deposits, Sales, Purchases and Withdrawals in Reais, Bitcoin and Litecoin. Furthermore, on the top of the homepage are different tabs like Trade History, Contact, Withdrawal, Deposit, Purchase and Order Book which help the user to navigate the website in a better way.

 

Making a Transaction

Making a transaction buy/selling is made easy with Ecoins. The website provides large intuitive icons to help the user to buy and sell both Bitcoins and Litecoins. The transaction fee (commission) charged is also competitive with the ongoing market prices. As an inaugural offer, the website provided zero fee deposits and withdrawals in Reais, Bitcoin and Litecoin, 0.3% fee for purchase and sale orders that are executed. But, the general rates are as follows:

 

Deposits in Reais                                            : 1.55 %

Withdrawals in Reais                                      : 1.55 %

Execution of Sell Order                                  : 0.55 %

Execution of Purchase Order                          : 0.55 %

Deposits in Cryptocurrencies                          : Free

Withdrawals in Crypto currencies                  : Free

 

Furthermore, all deposits and withdrawals in BRL are done through Banco do Brasil, Itaú, Bradesco, Caixa Economica and Banco Santander. The fact that Ecoins allows deposits and withdrawals through some foreign banks makes it a viable choice for foreign users and investors.

 

Security

After the downfall of many Bitcoin Exchanges all over the world, security has become a huge factor in choosing the right Exchange. Ecoins provides a six-digit alphanumeric token used as the Transaction Password which protects each transactional data from any breach. The website is SSL 256-Bit encryption certified, which adds to the security of the Exchange. Furthermore, the website stores 90% of the transactions in “cold storage” paper wallets (thus eliminating the possibility of theft by hacking) and 10% in digital wallets (to ensure faster processing and agility).

 

The site also allows the user to view the most recent sessions on their account including the IP address and browser, a detective control that can be used to determine if there has been suspicious activity. In speaking with Ecoins directly we were told the trading platform was built to adhere to and exceed the standards of security design set forth by OWASP. In addition the Ecoins has enlisted third party pentesting firms to validate the security of the trading platform. The company presented a strong posture for providing secure transactions for their customers.

 

Conclusion

In the growing Bitcoin economy of Brazil, Ecoins provides a new, safe, agile and intuitive Crypto currency Exchange. With its innovative features and easy-to-use tabs, one can easily make crypto currency transaction without having to worry about the safety of their money.

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