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Our Shariah compliant business model will tackle all of the above stated problems. Biokript token will eliminate manipulating trading volume since Biokript holders will receive trading revenues and it will not be sustainable to do wash trading by basically giving free money to token holders. Moreover, since all of Biokript’s transactions are done on blockchain, everything Is open for audit and review.
We will also employ top notch security for our exchange where all our files will be encrypted with latest encryption technology. Our exchange will be non-custodial, which means users will completely control their funds and the incidents such as above stated Quadriga or Thodex can never happen. Users will have multiple two-factor authentication options and before the withdrawal, our system will also notify our users about that withdrawal so if anything is suspicious, the user can block that withdrawal before it happens. Our system will also automatically block withdrawals after changing account data because changing email address or phone number is the typical behavior of a hacker.
We will offer top notch customer service, including a video-call support for faster authentication.
And we will offer many fiat currencies including BAM, EUR, and USD, along with many payment options such as credit card, wire, and ACH transfers.
To be fully compliant with the current laws we will require all users using fiat to go through full KYC/AML.
We will also post relevant educational information so our traders and community can stay up to date about the crypto industry.
Because of Shariah compliance, we will offer investment opportunities with a minimal risk and eliminate risky trades such as futures and leverage trading.
Biokript exchange is built with security and customer support while at the same time giving the users full control of their funds. 2 Factor Authentication will be a requirement for all users in order to ensure safety of those accounts. To fully secure all accounts, 100% of users’ funds will be locked in a smart contract which is unhackable unlike centralized exchanges. User’s IP address will be whitelisted and if the account is accessed from a different IP address, the user will immediately get notified.
Biokript’s customer service will be available 24 hours a day, 7 days a week and users will be able to contact our representatives through phone calls or live chat system for immediate help.
Biokript’s goal is to create a community of people willing to educate themselves and are open to help others. We will do that through our social media connections and our affiliate program where you can invite friends to trade on our platform and receive 25% of their trading fee.
Biokript will initially offer 3 fiat currencies for deposits and withdrawals: USD, EURO, and BAM with many more coming in the near future. All of our cryptocurrencies will also be paired with those currencies.
Since we are fully compliant crypto exchange, all of our users will have to go through KYC/AML from the very start if they are trading with fiat currencies. We’ll implement this process right after the user registers his or her account.