Week 6 OneCoin Exchange Platform Update 17/6/2019
- Stabilizing of the synchronization between blockchain and back office – done
- Ongoing work for creating an additional mechanism based on One Ecosystem concept.
- Which establishes coin price stability and also facilitating Exchange demand.
Licensing and IT Audit
- Still waiting for an exact date proposal on when the Exchange company to be invited to participate in a final physical meeting with the CB.
- The IT committee report regarding the coins and tokens will be presented during that meeting together with the fee approval.
- Business continuity plan – still in the process of preparation.
- Payment gateway – proposals for payment gateways that work with cryptocurrencies have to be made next week.
- Exchange limits – proposal to be prepared next week.
- The Exchange company hasn’t received any updates per country from responsible authorities yet, both from their old and their new request.
- Regarding the European license – all legal papers from the establishment of the European Exchange’s subsidiary – notarized and authenticated: Application for company formation uploaded and paid.
Next step -> approval by authorities, then the application for the exchange license.
Exchange platform weekly summary **
- Testing – the deposit function OLN ->Exchange is running smoothly as expected from the system.
- Previous withdrawal error has been fixed. And Payments can be withdrawal easily.
- The team is working parallelly to establish the synchronize between Back Office and Blockchain.
- Our developer team is working for stabilizing a connection between Exchange and Dealshaker.
- Liquidity account – It is completed.
Licensing and IT Audit
After completing the IT audit the following report is finalized by the team.
- The central bank is looking at how another exchange price is decided and how this interface work. The central bank is looking for the concept of Bloomberg, and the Netdania platform process.
- The company is trying to check the technical methods along with the central bank’s fee.
- This is very necessary as the price of other cryptocurrencies is decided by the trading volume of the last 24 hours.
- Our team has sent a proposal to the central bank regarding the fees like buy margin, buy rate, exchange rate margin with different banks.
- As we are planning to offer crypto to crypto and crypto to fiat exchange.
- Looking at the time and the situation, the margin is set up to about 50%. And hopefully, we will get its approval from Central Bank.
- There is no answer in the central bank so far for the medium to be used to transfer the payment from the exchange.
- As soon as the response from the Central Bank is received, a new report will be prepared by the IT Committee in which the list of Queens and Tokens will be made.
In order to operate the exchange, the information has also been sent to some countries, their details are as follows.
- New Zealand,
- The UK.
Week 2 OneCoin Exchange Platform 17/05/2019
- Deposit function from OLN to Exchange is running smoothly.
- Withdrawal function is still in test mode.
- Currently, withdrawals can be sent out from the blockchain successfully but a minor error is displayed after execution of one of the commands.
- Working on eliminating the error.
Limits and fees –
- Awaiting suggestion by the end of the business day.
- Reviewal and approval are expected during the next week.
Payment gateway should be implemented –
Awaiting the response from the Central bank on which one is most suitable.
Connection ‘Dealshaker – Exchange’ – coming soon
Licensing and IT Audit
- It has been confirmed that there is no legal objection.
- Awaiting recommendation by Compliance to be released.
- Compliance and IT have joined forces and are examining all profiles and technical documents.
- When their work is done, both teams together will release a final report for the licensing.
- The report is expected to be ready within the next 2 weeks.
- File already released by legal – no further comments on the legal structure.
- This means that the Central bank has completed the procedure and it has been approved (companies, ownership structures, the scope of work, etc.)
- This week applications for 2 European licenses (exchange and remittances) have been set up.
- They will allow fiat to crypto, crypto to fiat, crypto to crypto.
- Expected to start – next week with local company registration
- Application for European licenses and opening of a bank account – both pending
- The updated file regarding compliance and operational jurisdiction for the Exchange is forwarded.
Below the current report.
Week 1 OneCoin Exchange Platform 11/05/2019
Deposit of coins including ONE- done
Withdrawal of coins – done
Deposit and withdrawal of FIAT- done
KYC procedures- done
Testing – next week
Connection ‘Dealshaker – Exchange’ – has to be done
Limits – has to be applied
Licensing and IT Audit
The Licensing procedure is currently an assessment stage. There is more time necessary for final approval and testing. Moreover, the IT audit of the platform will provide a principal opinion in the next weeks. A further revision of a list of all cryptocurrencies on the platform is undergoing.
Operational funds were raised and deposited in the Escrow account ready to be transferred. Legal documentation was finalized and under final review. No new updates from specific authorities regarding the allowance of the provision of services in the state.
There is a delay in the licensing committee due to the fact that new requirements for separate CDD platform arose as a specific requirement of the Central Bank to apply transparency in the Due Diligence Process and to maintain the high level of Monitoring and Control over the flow of funds while reporting to the Central Bank. However, we have good news that we can start with a limited tolerance time.
OneCoin Exchange Announcement
Edited 6 March 2019: Dear Friends as per some top leaders OneCoin top leader Konstantin Ignotov will announce the exchange launch.
And we all are aware that currently he is in the USA and the next hearing is scheduled for the 26th April 2019.
So It becomes mandatory that Konstantin should come out as soon as possible.
The company scheduled Miss OneLife event on 7th April 2019 and tomorrow is that golden opportunity.
Events like Miss OneLife, Miss world and so many others are organized to promote something globally.
And not through OneLife company want to introduce OneCoin with the world. As Konstantin is in the USA they will not launch the exchange but they may announce the launch date.
After all, the announcement of the exchange date is very important for promoting the company at the world level.
Hello, friends, The Onecoin exchange is going to be launch very soon. One coin announces in its official press release that they were working on a long term corporate plan.
This corporate plan is related to the entire usability, merchants and exchange system.
And recently on the 18th March newsletter, they announce that their corporate presentation plan is ready.
From this point, it becomes convinced that the company is working according to the statement given by it.
This is a golden sign for reducing tension in the USA case. In reality, these two have nothing to do with each other. All things are going well at their own time.
One coin Exchange Announcement From Top Leader
Hello, Friends Onecoin exchange launch news is received from the top leader. He announces this news from Bogota on Sunday. According to him, everything is ready for exchange and it is about to launch.
But it will take some time to launch and he predicts 3 months from the current month of March. So as expected it is going to launch in June.
Actually, I have written a detailed article regarding this. And I would like to see that once you read it all the things have been given in detail.
I had told that the exchange account will be held in Dubai on March 23. And if it does not happen then it will be in the next in May during the Barcelona event.
OneCoin Exchange Launch Date
One coin exchange launch is becoming more and more trending question nowadays. Because Onecoin officials have announced that One coin is going to launch in the current year 2019. But they didn’t announce any official confirm date.
This is the reason because many people looking a positive outcome from Onecoin officials.
One coin is providing training programs in different countries for Dealshaker operations. Recently they have completed 2-3 major training programs in India.
Really these were awesome and we all proud to be a part of this awesome opportunity.
One coin company is going to do the biggest event in Dubai in the coming days. This event may be a game changer for every Onelife member as they may announce the Onecoin exchange launch date.
This is very important as the top leaders and Senior executives from OneLife, OneCoin, DealShaker, And Xcoinx are becoming focus personality.
Nothing similar has seen before in history.
This event is scheduled for 25th and 26th March 2019. We all are waiting for that great time curiously.
One coin has tested its beta version before and nothing to worry now.
OneCoin Exchange Launch Preparations
One coin exchange launched a beta version for selected merchants and the Onecoin executive.
XCOINX exchange is showing under maintenance message for the public.
One coin company wants to check everything before going to the public.
So Onecoin launched a beta version for testing exchange function properly.
One coin invites several executives and selected merchants for testing the beta phase of the XcoinX exchange.
When everything will be fine for merchants and investors.
One coin will launch its exchange publicly for everyone.
What is Onecoin Exchange Testing Version?
The Onecoin company is very responsive to its merchants and wants to make them secure.
So before launching the original version, One coin launched a beta version.
The beta version is a testing version. It is similar to NewDealshaker.com.
NewDealshaker.com is a beta version of the upcoming largest e-commerce website.
Similarly, XCOINX.com beta version is launched to find the exact functioning of the Onecoin exchange.
What is the Proof of Onecoin Exchange Beta Version?
I get this information from the Onecoin social media platform.
One coin official social media page share this information publicly.
According to this news, One coin is going to launch publicly very soon.
We just have to keep our eyes on the upcoming official news from Onelife.
Very soon they are going to announce it officially.
One coin Exchange date finally confiOnecoin Price today in Euro for Exchange
Latest Update From Onelife Onecoin
After 8th January Onecoin releases a press note and says clearly that they are just One step away from the exchange.
One coin announces officially that the final audit is under process and since the almost 50 days have passed.
I mean to say that the audit is over and the exchange beta version is launched.
It’s not a new thing when Onecoin launched a beta version.
XcoinX was launched before for the training purpose.
Very soon we will be able to exchange our cryptocurrency into fiat currency.
What is the need for the Onecoin Exchange Beta Version?
During the press release one-coin team elaborate some special information which I am stating here.
One coin merchants security is our priority.
We want to make Onecoin a stable coin so that merchants could get the exact exchange rate.
Bitcoin price fluctuates so much that by merchant doesn’t involve it that too much.
We are creating Onecoin usability as much as possible and soon we will be able to do that.
Does Onecoin Exchange give money in 2019?
The exchange of One Coin Company will be launched in 2019.
Likewise, The image is attached to the official proof. And That’s why we all should be rested.
The company is doing everything on time and according to the vision.
Most of us are thinking that the company is a fraud and all have run away with the money.
The company is absolutely fine and working correctly.
The company has completed all the legal processes.
Many companies open the exchange immediately after coming to ICO.
This type of company does not carry much vision.
Most of these companies do not even know us.
But I can explain it to you in a very easy way.
Example of Amazon.com IPO
Amazon.com is one of the world’s 5 largest companies.
Amazon.com’s IPO was too late.
Even people here craved their money like the One Coin Company.
Investors of Amazon.com also repeatedly asked about their invested money.
Some of them were telling frames to amazon.com and were thinking that their money was drowned.
But today we tell the examples of this company’s promotion to other people.
Only the company that progresses focuses on its vision.
Likewise, One Coin Company is the world’s largest and most successful company.
We are members of the OneCoin Company, we should be proud of this.
What is the Status of OFC Bundles?
OFC bundles are closed as the ICO period is over.
20% OFC will be released for Onecoin conversion in the first 3 months.
OFC conversion rate will be as follow:
300 OFC = 1 ONE (For ICO)
How to Exchange One coin from OFC?
If you purchased OFC through ICO then make an account on www.onelife.eu website.
Here you have to sign up similar to other social media sites.
So You have to create a username and password for your account.
Likewise, You have to mail your username at email@example.com
Within a given time your 20% OFC will be converted into One coin.
You can check your Oneco in balance on your Onelife Dashboard.
Now You can exchange your 20% Onecoin officially.
I am giving you this information in very simple terms.
Very soon the exchange is going to be open.
It is a matter of great pleasure for us. Our long wait is going to end now.
OneCoin Exchange Launched Conclusion
Onecoin exchange is going to launch very soon for the public.
Beta version is already in the testing phase.
And We all are waiting for the final exchange launch.
Our waiting is about to end.
Now after the long wait, the time has come for celebrating happiness.
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