Renvale Exchange, a proprietary cryptocurrency exchange platform developed by Renvale Capital, becomes the latest in a slew of crypto exchange services as the digital currency market continues to mature. The platform hopes to offer a robust ecosystem for digital tokens.
Renvale Exchange operates using a crypto-economic protocol, mediated by Renvale Capital, a cryptographic token that provides membership access and can be used to pay trading fees. According to Mr. Will Collins, the CEO of Renvale Capital, Renvale Exchange will reduce barriers to capital flow into and between crypto assets; improving efficiency and viability of the emerging crypto economy, smoothing market cycles and enabling the development of more sophisticated capital allocation structures.
Notably, Renvale Exchange has vast reserves of bitcoin holdings amounting to over $700 million USD that will serve as liquidity and to safeguard against financial volatility. The following list consists of 5 bitcoin addresses that are marked as the official reserves of Renvale Exchange:
- 1DiHDQMPFu4p84rkLn6Majj2LCZZZRQUaa: 66,236 BTC ($438,980,780 USD)
- 12ib7dApVFvg82TXKycWBNpN8kFyiAN1dr: 31,000 BTC ($205,531,864 USD)
- 15nMWix4rnpr7HaZkvfMVkdFf2YbUtaGsj: 9,000 BTC ($59,651,102 USD)
- 1Lm8nJJDQVCw6sB7SRKw4qW9RC9izDn2Jq: 2,720 BTC ($18,045,180 USD)
- 19fBtWE5KefBXRbPAvgvaBN9t2wbh5dRJX: 2,720 BTC ($18,045,179 USD)
*Dollar values are accurate at the time of writing
Renvale Exchange will be low cost and affordable to all. Users will be rewarded with several bonus programmes. The Trader Reward Pool Program distributes 30% of trading profits to users based on a tiered system – with more trades made, the greater the percentage share of the Trader Reward Pool. Users of RVC will also get to participate in the Loyalty Bonus Program just by holding onto RVC tokens.
“Crypto enthusiasts should not be made to pay exorbitant trading fees, and they should have a regulated and secure environment to trade. The combination of Renvale Capital’s superior blockchain technology and the Renvale Exchange interface is one that will create a one-of-a-kind, fair trading experience, that puts the customers first.”, said Mr. Will Collins.
At inception, the platform will list the major cryptocurrencies which include Bitcoin, Bitcoin Cash, and Ethereum. When the platform is up and running, the development team plans to support trading for all kinds of digital assets. However, these tokens must pass its strict coin vetting process.
Renvale Exchange is fully licensed by the Estonian Financial Services Authority (EFSA). The popular cloud mining company, Hashflare, is originally from Estonia. Adex, a cryptocurrency exchange platform, Mothership, HashCoins, and Eloplay are other popular start-ups registered within the country. Additionally, Renvale Exchange is in the process of obtaining licensing from Switzerland, dubbed as the “Crypto Valley” of the world.
Cryptocurrency exchange platforms are often targets of cybercriminals. The team is headed by Chief Technology Officer, Vishal Agrawal. He has vast experience having held positions as Chief Technology Officer at Netcraft Retail Solutions, Principal Architect at Microsoft and Senior Engineer at IBM, prior to joining Renvale Exchange. He has implemented robust security features to guard against malicious incursions from hackers.
He shared that Renvale Exchange stores 98% of their crypto assets in cold wallets, which means that they are stored offline. This makes them better placed to safeguard the assets away from hackers. The other 2% is stored in insured internet connected hot wallets for the convenience of their traders.
Renvale Capital aims to continue delivering powerful and risk-adjusted investment returns to their investors as they look to cement their status as a leading Wall Street investment company.
The increased attention in cryptocurrencies paired with their remarkable returns has attracted considerable interest on the firm as they look to finish 2018 on another high and are on course to replicate the stellar years they have had prior to 2018 through the launch of Renvale Exchange.