CoinContracts.eu

 

Welcome to CoinContracts.eu!

 

Every now and again there is news about some exchange being hacked. Apart for the actual loss suffered by those whose accounts got plucked there is the far greater damage done by a drop in the rate of the coin and the reputation of crypto safety in general.
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Although the media are quick to point out a 'hack', in reality it is mostly about sloppy security or outright theft by employees.
The problem with most exchanges is that you need to deposit coin in their wallets in order to be able to trade. When there are thousands of customers the total amount deposited in the exchange wallets gets huge making them an attractive target for attacks or theft.
CoinContracts.eu is  a system where the exchange acts as a mediator, or clearing house, between parties that want to trade. In that system coins are only moved to the exchange to execute an agreed trade so there is no accumulation of coins on the exchange itself.
On our platform traders put up buy/sell 'contracts' for coins. The exchange lists all available contracts so traders can easily select a deal. For instance, if you want to buy some XVP you could enter into a contract with someone offering to sell say 1000 XVP at USD$10.00
After selecting a contract the exchange will send a message to both buyer and seller - in our example, the seller will be asked to put 1000 XVP into the exchange wallet and the buyer will be asked to deposit $10.00 to the exchange account. When both parties have done their part the exchange will perform the actual transfer to the contract parties. If either one of the parties fails to respond in time the deal will be canceled and funds received will be returned to the originating party.
Besides being a secure way of trading coins this system is also much easier to understand and use than regular exchanges.