Denmark, A Friendly Place to Trade Crypto Currencies with Security and Safety and a Reserve Fund

BLOKHUS, Denmark - May 25, 2014 - PRLog -- CCEDK / Crypto Coins Exchange Denmark ApS (https://www.facebook.com/CCEDK), an online exchange platform for digital currencies, announces its entry onto the global market this coming week, end of May. To support ongoing development of the crypto market as well as to guarantee security on their site, CCEDK offers transparency, safety issues and a reserve fund as their strongest selling points.

CCEDK wows to offer its services to users all around the world. In an interview with Bloomberg (http://www.bloomberg.com/news/2014-05-22/bitcoin-exchange-guarantees-clients-crime-free-trade-in-denmark.html), Chief Executive Officer Ronny Boesing, indicated that the exchange will allow its customers to trade the two most popular digital currencies against each other, bitcoin and litecoin. Boesing also said that its customers will be able to trade in and out of their positions in exchange with traditional fiat currencies, including the Danish and Norwegian kroner, British pounds, dollars and euros.

A recent advisory released by the European Banking Authority in December warned those dealing with digital currency to be cautious, saying that no “specific regulatory protections exist that would cover you for losses if a platform that exchanges or holds your virtual currencies fails or goes out of business.”

In a recent article Crypto Crimson (http://cryptocrimson.com/2014/05/first-crime-free-bitcoin...) writes: While regulatory uncertainty is a concern of Boesing’s, as is it with many other digital currency exchanges, the CEO seeks to stay one step ahead of the curve by taking all potential regulations in stride and adopting them in a proactive manner, adding that “there could be a decision to regulate this kind of business in the future. We are also ready for that.”

Meanwhile, Denmark’s Financial Supervisory Authority released additional guidance in December, saying that it is currently assessing whether or not there is a necessity for an increased degree of regulation throughout the industry. The oversight committee’s chief legal advisor, Michael Landberg says that if the committee finds it necessary to enhance regulatory guidelines that there would likely be an “amendment to existing financial legislation so that we have regulation covering it.” He adds that Danish regulators will simply “seek to follow the mainstream,” saying that in general, “it just needs to be regulated.”

The importance of Transparency

To further explain the importance of offering transparency as part of any successful business, Boesing said:

“We wish to help mature the crypto market by being visible to the world with easy accessible information from public directories, social network and our own website as a few examples of that.”

Another way of summing up can be found in a recent article in Bloomberg Business week, in which Boesing was quoted:

“Our strongest selling point will be that clients will know where we are, that the jurisdiction Is Danish, and that there’s complete transparency. We link to our lawyer on our website in case anyone feels they need one.”

Safety issues

When asked about the obvious advantages operating from an address Denmark, Boesing answered:

“Internationally, Denmark is considered a steady and stable country with political and financial stability as well as zero corruption. I think it is therefore fair to say that the legal environment could well be a crucial factor to define the present as well as the future climate of the crypto market, and in particular for a country like Denmark, as it is now one of the few countries in the world with little to no restrictions towards crypto currencies”

Cointelegraph wrote: That the company is registered in Denmark is a point of focus. Boesing said, this fact lets customers know who is running the exchange and from where. This also allows the team to import “Danish values like integrity, honesty, transparency, and trust.”

Security

LEGAL SECURITY - All the questions in the event of problems will be solved with a legal entity located in Denmark, a country where the government does not preclude the development of a crypto currency network. This can help protect the customer’s business as a whole.

BANKING SECURITY – As a legal exchange platform according to Danish rules and regulations, all payments and withdrawals in fiat currencies EUR, USD, GBP, DKK and NOK will be sent directly to and from the bank account of CCEDK, in this way avoiding the involvement of some dubious financial intermediaries.

CYBER SECURITY - All payments in crypto currency initially sent to user accounts are then forwarded to a cold storage also known as cold wallet, impossible for hackers to find. In the case of outgoing payments a withdrawal wallet is stored outside the platform to avoid any unwanted access. In addition, the system provides double confirmation paymentsand once a day, the database of the platform is encrypted and archived on multiple servers.

Reserve Fund

The legal environment in Denmark allows CCEDK to welcome investors and traders from USA, Europe, Asia, Australia, Africa, and South and North America in general, or simply those wanting to exchange crypto currency to fiat money. Although only one exchange out of many, the people of CCEDK are confident that customers will find it, and use the platform constantly, feeling comfortable trading on a platform entitled to all the people believing in legality, openness and trust!

To support this belief and in order to increase credibility, transparency and confidence in the eyes of their customers, 30% of CCEDK revenues in digital currency is transferred to a reserve fund, visible on the platform and updated accordingly.

The Bitcoinexaminer (http://bitcoinexaminer.org/danish-bitcoin-exchange-crime-...) explained it quite nicely in their recent article on CCEDK:

Besides, the exchange will keep 30 percent of its revenue aside in order to create a fund that can protect its clients from crime-related losses. This means that although the security measures used by the platform might be fallible, at least there will exist a buffer ready to shield the clients in case of capital loss due to some sort of criminal activity.

And BtcNews (http://newsbtc.com/2014/05/24/new-danish-bitcoin-exchange...) commented in a follow up article:

While many exchanges don’t go light on the talk, this particular exchange is putting their money where their mouths are and is said to be planning to set aside thirty percent of revenues to create a doomsday fund.

About CCEDK ApS: CCEDK is an online trading platform of digital currencies order-to-order, on which seller and buyer meet to perform their transactions peer-to-peer from crypto to crypto or fiat to crypto or vice versa.  The company is registered in Denmark, a country in the EU, under the name CCEDK / Crypto Coins Exchange Denmark ApS, providing exchange services of crypto currencies like BTC and LTC paired with the fiat currencies USD, EUR, GBP, NOK, and DKK in a safe, secure and transparent environment. Payment services are provided on the basis of PSP services, SEPA transfers, Wire transfers and instant pay options.

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If you would like more information about this topic, or to schedule an interview with Ronny Boesing, please call +45 36 98 11 50 or e-mail Ronny at ronny@ccedk.com