Finally found a reliable exchange for litecoin. multiple servers, one of which is offline and google authenticator plus interest on deposits. mcxNOW Features Fee shares - With each mcxNOW feeshare (MCX) you own, earn 0.001% of ALL mcxNOW fees! Paid every 6 hours. Interest on deposits - 25% of all mcxNOW exchange fees go towards paying interest on deposits every 6 hours! Interest calculated as: (YOUR_BALANCE / TOTAL_USER_BALANCE) * 25% of fees. This applies to every currency on the exchange. Fixed-point integer math trading engine - Unlike other exchanges which use unwieldy floating-point math, mcxNOW uses integers through the entire trade pipeline to ensure you arent losing out and get precise results. Atomic trades - All trades happen the instant the exchange gets your command and the trade is carried out until completion. No other trade is processed until yours is finished, unlike other exchanges. Multiple servers provide 3-tier network security - Wallets are kept on one server, the exchange engine is on another server, and internet gateways are on another server: 3-Tier network security. The exchange can only be accessed on a private intranet by the internet gateways. The wallet server can ONLY be accessed by the exchange engine. VERY fast - The entire exchange is coded in C++, with the entire site cached in RAM. No PHP, PERL, JAVA or PYTHON. 100% custom C++ code. The downside is it may not look as pretty. :) No SQL, Oracle, Access databases to be hacked or leaked - A custom database encrypted with AES256bits on disk, automatically backed up multiple times per day. There is no way to access the database through the internet. No off-site administrator access - Every user on the exchange is exactly the same and has no power over any other user. This means there is no admin account to hack to gain access and steal funds from other users. All administration has to happen on-site through a custom-coded, password-protected graphical interface. Built-in 51% protection for relevant altcoins - If a 51% attack is detected in any of the Bitcoin-based chains then that exchange will automatically shut down to protect against any abuse. This isnt going to guarantee that you will not lose out if a chain is 51% attacked but it gives some protection against losses. No web tracking - No Google Analytics or other tracking software. MTGOX, BTC-e and Vircurex all track users with Google Analytics. We dont let Google or any other company log your trades or visits to this site. mcxNOW Features | Earn Interest on Deposits | mcxFEE Shares | Pro Trading Upgrade FAQ - Earn Interest on Deposits What is this interest on deposits thing everyones raving about? Every 6 hours, 25% of ALL FEES generated by the exchange will be distributed to users who deposit their currencies at mcxNOW! Exchange What? Yep. Free money. How do I earn interest at mcxNOW? Interest at mcxNOW is earned simply by holding a balance of any or all available currencies. There is no investment like with mcxFEE Shares -- where you have to own MCX -- you just deposit into your account at mcxNOW and hold a balance! ALL users of the exchange get interest. So I can earn a % of ALL the fees collected by the exchange? Yes! There is a separate calculation for each currency. If you deposit LTC for example, you will only gain interest on the LTC fees generated. Keep in mind that all coins are paired with BTC on the exchange, so every trade generates BTC fees. Is interest paid in BTC or some other currency? Interest is paid in the same currencies as your balances. If you only hold one currency, say MNC, you will only earn interest on your MNC balance and you will be paid in MNC. This is true for each currency on the mcxNOW exchange: hold a balance & earn interest on that balance. (Interest is not earned on mcxFEE Share balance, as MCX is not a currency.) Do I have to trade currencies to be eligible for interest? No. Its currently not necessary to trade to earn interest. Open order amounts count towards your total balance, so you are free to place orders and still earn interest on your total currency balances. Currently, the only requirement is for you to hold a balance at the time of interest payments. Is interest different for those with the Pro Trading account upgrade? No. Pro Traders dont get any extra benefits with regards to interest payments. Does it matter when I deposit, so I am assured interest payments? The interest is calculated and distributed every 6 hours. You will earn interest on the currency balance totals in your account at the moment of the calculation. When do interest payments occur? Is there some sort of timer or a set payment schedule? There is no set time each day for payments, except that they occur in 6-hour intervals. Currently, the free money waterfall is turned on more based on when the exchange server was last updated or restarted, than on the time of day. How much money will i earn? What is my interest rate? The interest earned by any given account is highly variable and difficult to predict. The more fees the exchange generates, the more there will be available to give to users. The larger your balance is, the more youll receive of those fees. For example, looking only at BTC balances: If there is 1,000 BTC deposited on the exchange (total balance of all users,) and you have 10 BTC deposited in your account, you will get 1% of the cake (1% of the 25%, so 0.25% of all BTC fee generated during that 6-hour period). Remember that this calculation is run against every currency and ALL fees (including Pro Trader fees, withdrawal fees, etc.) so there are many variables involved... and it changes every 6 hours. Since higher volume means more fees, its beneficial to get your friends using the exchange to increase your interest payments even more. Spread the word about mcxNOW and we all benefit! Where can i see an estimation of the interest ? In your My account page, there is a tab for each cryptocurrency available on the exchange. On each tab you can see a current estimation of the yearly interest for this coin. The calculation is based on the precedent rate and the last payment. (0.5*ancient rate) + (0.5*rate of the last payment) = new rate THE DISPLAY INTEREST IS ONLY AN ESTIMATION. YOU ARE NOT ENTITLED TO THAT INTEREST AMOUNT AT THE MOMENT OF YOUR DEPOSIT. Do you invest the deposited money? Why give interest payments on it? No we dont use your deposits in any way. mcxNOW doesnt participate in fractional reserve banking and keeps all deposits sent to it purely in storage for users. The reason to give interest on payments is to encourage more people to use mcxNOW over alternatives, thus generating higher exchange fees and benefiting everyone. Unlike most of the business world, mcxNOW cares much less about maximizing profits and more about empowering its users to reach financial freedom. Can the terms of mcxNOW interest feature ever change? Well, its pretty generous to be giving away 25% of all our fee profits (plus another 1% given out via the hourly lotto), if we do say so ourselves. We do maintain the right to change the terms of this feature down the road, but were very excited to be offering this game-changing program so its not going anywhere, anytime soon. Enjoy the free money! :) mcxNOW Features | Earn Interest on Deposits | mcxFEE Shares | Pro Trading Upgrade FAQ - mcxFEE Shares (MCX) What is an mcxFEE? mcxFEEs are shares of the total fees generated by the exchange, similar to the interest payment. However, each mcxFEE you own will return 0.001% of ALL the fees generated by the exchange, regardless of any currency balances you hold! What are the fees on mcxNOW? Trading fees: There is a 0.25% fee for each side of every trade, so 0.25% for the buyer (BTC fee) and 0.25% for the seller (altcoin fee). Thats 0.5% for each trade. Withdrawal fees for every withdrawal from mcxNOW. Pro Trader account upgrades. Any new fees the exchange generates will be included in mcxFEE calculations. How many mcxFEEs exist? mcxNOW has created a total of 100,000 mcxFEE that have been divided like this: 5% (5,000 MCX) were sold in September 2013 to early adopters. As of the September 10, 2013 update to mcxNOW exchange (version 2.0), these shares became tradeable on the MCX exchange. 45% (45,000 MCX) were sold starting on October 29. 50% (50,000 MCX) of the shares will never be released or sold. These belong to mcxNOW. Currently, a further division of these shares has been made, which resulted in the interest payments and the generous, hourly lotto: 25% of the mcxNOW shares (25,000 MCX) are being used to fund the interest payment feature. 1% of the mcxNOW shares (1,000 MCX) are used to fund the hourly exchange lotto. The remaining 24% are hidden away in a deep, dark vault. Keep your grimy mitts off! Can i get mcxFEE and interest at the same time? Yes! You will see the interest payments and the MCX dividends reported separately in your account logs. What are the differences between the interest payments and mcxFEE payments? Interest payments are not an investment, only a return on having a deposit. You cant buy or sell this advantage, everyone gains interest on their deposited coin. The interest payments are not guaranteed and may fluctuate in value. At the moment, 25% of the exchange fees are redistributed but this number can be reduced in the future. The mcxFEEs are an investment. You have to buy them to gain their benefits. You may decide instead to trade them like any other currency, but will lose the dividend payments upon sale, of course. You can sit back and enjoy the dividend or sell your shares at any time... or buy more if youd like! mcxFEE shares are guaranteed for the life of the exchange. You will never lose them unless you sell them. The exchange will never take them down. A share will be worth 0.001%, or if it is decided in the future a different percentage per share is better then all existing holders will receive a percentage based on their current ownership. Why are you doing this? Why are you not keeping the money for yourself? The exchange still keeps a large number of shares to cover expenses and is already very profitable. We want to engage our users, to let them be part of the adventure. Because we share the same interests, you can help us grow by promoting the site and inviting friends. Because when we grow, everybody grows with us. mcxNOW Features | Earn Interest on Deposits | mcxFEE Shares | Pro Trading Upgrade mcxNOW Pro Trading Accounts People who purchase the Pro Trading account upgrade get extra benefits. These benefits arent given to all account holders because they increase server load and bandwidth requirements, therefore they need to be paid for: Orderbook extended from 25 orders to 75 orders. Orderbook delay reduced from 5 seconds to 0.5 seconds. Can place 20 orders per exchange instead of 10 each. (e.g.: 20 open LTC orders; 20 open MCX orders; etc.) No coin balances needed to overcome chat restriction. mcxnow
Posted on: Mon, 25 Nov 2013 08:55:19 +0000
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