The cryptocurrency exchange industry has not created a particularly favorable reputation for themselves thusfar. Cryptocurrency exchanges are typically associated with fraud and hacks, and not without reason. Earlier this year, bitstamp, a popular exchange, was hacked, losing access to 19,000 bitcoins. The year before, the infamous MtGox shutdown, keeping thousands of users without access to hundreds of thousands of bitcoins.
LazyCoins, a UK based exchange, has learned from the mistakes of their competition, and have been working towards the most secure, user friendly, and hassle free exchange option available. The site recently launched early this March, following a six month beta. As of now, users can exchange GDP and Euros for bitcoin and litecoin.
The exchange received their MSB credentials on January 2, one of only a couple of UK exchanges to do so. What this means for users is same day deposits without fear of banks cancelling payments or freezing accounts. LazyCoins hopes to make purchasing bitcoin easy enough for every day life, and acquiring their MSB is a huge step in the right direction.
Another core value at LazyCoins is security. The company understands that once someone is able to compromise funds, it’s too late. That is why they have taken measures to prevent all possible theft attempts, as well as to ensure that any future security breach will not be awarded with a single coin. 100% of all currencies on the exchange are held in cold storage, and protected by multi-factor authentification. The site does not use any hot wallets whatsoever, and the hardware that holds their coins is located deep in the Swiss Alps, safe from the chaos of the real world.
Security, integrity, and community are the three pillars that LazyCoins is founded upon. The bitcoin world is one inhabited by scammers, hackers, and thieves. The exchange fully understands that, and they are working towards becoming a name free of these entities, a place that people can trust. During the half year beta phase, the company accepted and encouraged all scrutiny against the platform, constantly working towards improving the system to dispel criticisms. They have also designed themselves to be transparent, and the users know what is going on at all times.
The last key ideal of LazyCoins is community. Everything the company works towards is for the users. LazyCoins strives to be the top option in the world some day, and that success is entirely dependent on the people who use it. That is why the site has held just a .24% fee on all transactions. During the six month beta, the site even rewarded its users with feeless trading. LazyCoins has also elected to add future currencies to the exchange based off of credibility and community support, as opposed to voting systems and altcoin donations that other exchanges commonly use.
The company also plans on releasing LazyPay in the coming months. LazyPay plans to empower merchants and businesses with bitcoin support. Used in conjunction with LazyCoins, the company will be able to offer the most secure, efficient, and cheap option for accepting bitcoins in the world. The company feels that bitcoin will be used in daily life at some point in the future, and they hope to spark that movement through their services.