Over the weekend everyone received an amazing surprise. Just as Bruce Lee effortlessly moved through the martial arts, Rapids Network is making their own ascent. Mastering Their Domain Rapids Makes Progress.
Exchange Listing
Highlights in the rise of any project can include a varying number of feats. Raising money, although some would say that is purely taking on debt.
Releasing a product and being first to market either in timing or capability and service. There's even mass changes in leadership that usher about a new era within a group.
Then there is listing on an exchange. Access, liquidity, and exposure are all part of the process. On September 20, 2020 exactly that happened. Rapids Network was listed on Coinsbit Exchange.
The Best Exchange Released in 2018
The myriad of options that exist in the cryptosphere include what seems to be a never ending list of exchanges, dex's, and other swap functions. When I saw the release for Rapids Network, I had to go look.
One of the key steps and launching points for Rapids is access for those who will be engaging in the future AND an exchanged seems to be a foundational step that was needed.
Coinsbit Exchange
Having never used Coinsbit, I had to look a little deeper to see what was in store for those stepping into the Rapids community. Up until this point through several swap services such as Instaswap, which you can read about in one of my previous write ups (Exchange Series - Instaswap), choices were limited.
Until this point, using the swapping services was a BTC swap function only. While that is totally functional, it did add an extra step in the process.
With fees being what they are right now, adding an addition step added an additional layer of fees. This would represent a fairly large percentage when working with a lower market cap gem like Rapids Network. Therefore, having more options is always a great thing.
So far the pairings line up on Coinsbit.io;
- RPD / BUSD
- RPD / USDT
- RPD / BTC
- RPD / ETH
These pairings should add value and bring more users into the Rapids Community.
As With Any Exchange
When first looking into Coinsbit.io, I saw quite a few negative comments in different reviews. Even Trust Pilot has a mid 2 scoring for the exchange while Reinventing Reviews had mid-3 as their score.
That's ok, it just called for a little deeper look. DYOR right?
The Estonia based exchange seemed to have quite a few comments which were unsatisfied investors as opposed to something negative happening from the exchange itself.
For example, one commenter in May 2020 pointed out that non-KYC withdrawals were NOT allowed.
There are two sides to the KYC topic. As regulation begins to take shape and proliferate through the crypto space, it seems that swaps are becoming the non-KYC space (subject to change), whereas exchanges are becoming predominantly a Know Your Customer environment.
From Reinventing Reviews (admittedly a site I had not come across before, there are more in depth reviews that cover pros / cons and identify different features of what is being reviewed across a wide range of exchanges. In regards to Coinsbit.io, this review stood out;
You can check out the link in the review to see the longer list of the different features that the reviewer mentions.
Also, as the reviewer mentioned Forbes, on the bottom of the Coinsbit.io page you can find quite a few links to all of the different media mentions and sources, for example:
From the article, I found it really informative how Coinsbit.io was working with Fortem Capital on the tokenization of real property holdings. See how this quote sits with you...
Secrecy is not profitable anymore, especially when middlemen become redundant.
Marry that with the critical reviews across some of the platforms and see how it balances out for you.
Overall
I have been a fan of the Rapids Network since coming across it and have been cheering for the teams success. Big changes are expected in the life cycle of any project and sometimes there is a tendency for everyone to hold their breath on the outcome of any decision.
Heading in the direction of an exchange listing is HUGE! Coinsbit.io has much of the feel to me that RPD has. In that;
- A project that until now has been largely undiscovered, BUT ready to blastoff.
- A current and active community.
- Based in a crypto friendly location.
- Has an active support system to address bumps in the road.
When I saw that Coinsbit.io was based out of Estonia, there was a little glimmer of excitement as I had just been reading about the Digital Nomad Visa that the country has put into place with some really intriguing opportunities.
So, overall the RPD listing on Coinsbit.io is a giant step forward for the project. Combine this with the other recent announcement about partnering with Burnley FC, we all can expect the trajectory to continue for the Rapids Network.
Great Job Rapids Team!
NOTE: Be sure to check out the other write-ups on Rapids Network and don't forget to follow along on Twitter.
