New cryptocurrency exchanges are launched every month. However, most of them are strict with registering new members and ask for numerous verification details. For an industry where decentralization and privacy were supposed to be the goal, most traders do not appreciate the verification process.
Flyp.me is an accountless crypto exchange that does not impose any KYC-rules. In the meantime, it is offering the privacy and convenience the most traders would want. With a simple interface and no signup or verification process, new users can trade among 22 crypto coins fast and conveniently.
The following review examines the legitimacy of Flyp.me, how it works, the fees, its reputation and how it ranks compared with many crypto exchanges.
Who owns Flyp.me?
The company is owned by HolyTransaction, a multi-cryptocurrency wallet manufacturer. Their CEO is Fransceco Simonetti, a former bitcoin educator, and music artists’ manager. Like other trading platforms, Flyp.me does not list details about other members due to security and privacy reasons.
However, with the company’s great reputation with HolyTransaction (the wallet), they are legitimate and have been proven to work.
Website Design and Ease of use
The Flyp.me website is professionally designed for easy use by beginners and experts alike. There is no registration process and members don’t have to create an account or provide any personal details. Instead, all you have to do is provide your wallet addresses for coins you intend to trade and confirm the transaction.
Compared to many cryptocurrency exchanges, Flyp.me ranks up high in terms of ease of use. Most exchanges, including those in the top ten of highest daily trading volumes, ask for verification and account creation. Moreover, while some have easy registration processes, most of them take a while and can be confusing to traders who are relatively new.
Privacy and Security
As an account-less cryptocurrency exchange, Flyp.me allows you to have greater control over your coins. With no account needed, you store coins in a personal wallet. This way, you avoid storing them in an otherwise insecure exchange provided wallet that could be vulnerable to hacking.
The lack of a signup and verification also means that trading on the growing exchange is done anonymously. Flyp.me is founded on the original idea of a decentralized cryptocurrency industry. They don’t need your personal information and you can trade up to 19 cryptocurrencies with numerous trading pairs with no one wanting to verify you.
The trading website supports 19 different cryptocurrencies including some of the most popular ERC20 tokens. Some of the most popular coins on the exchange are:
• Attention token
• Flyp.me token
Flyp.me’s 50% Profit Sharing Feature
A growing number of cryptocurrency exchanges are having their own token, often a product of an ICO. Flyp.me is no different. Their Flyp.me token was launched just recently after the conclusion of their initial coin offering in October last year.
Like most ICOs, Flyp.me sold their own token cheaply at $0.07 albeit with one twist. Instead of investors simply benefiting from the Flyp.me token as its value increases, they also get 50% of the profits made by the company.
Flpy.me token owners will receive their payouts proportionally every three months for the first two months. But henceforth, they will have the ability to vote as to when they should be paid. Token holders will also have the power to vote as to which tokens should be added and take part in the company’s policymaking.
The exchange fixes the exchange rate and trading fees automatically as you trade. When you enter the number of bitcoins you want to exchange, Flyp.me will show you the exact amount of ethereum or any other coin you will receive.
The trading fees are calculated automatically and at the moment of trade. Flyp.me works this way because they exchange your coins through other exchanges and have to look for the best rates before they can complete the trade for you.
How can you reach Flyp.me attendants? Fortunately, you don’t really need to communicate with anyone when trading on Flyp.me. Their FAQ section answers all the important questions you may have about the company.
When it comes to trading, Flyp.me is open about their fees, coins accepted how things work. The only way you could have an issue with Flyp.me is a delay in completing your payment. In this case, you can reach out to Flyp.me on their reddit subreddit, on twitter or on their telegram channel.
Thanks to their unique features such as profit sharing and allowing traders to participate in policy making, Flyp.me is gaining great reputation online. On reddit, Flyp.me traders are full of praise about the company’s services. They regularly make a contribution about the coins that should be introduced or issues that should be handled.
So far, no one has made complaints about the exchange, not even about delays. This shows the company is doing great in terms of management and enhancing their relationship with traders.
Want to start accepting payments through Flyp.me tokens? The company offers an API for developers and business owners who want to integrate their services with the Flyp.me payment system. Another unique feature of the exchange is a chart that shows the total amount of coins being traded on the exchange in bitcoins.
They also tell you the maximum amount of coins you can trade at any given time based on what’s in their reserve. This is a very open approach to doing business. And given how cynical cryptocurrency traders are, Flyp.me looks like the future of cryptocurrency exchanges.
• Simple, professionally designed site
• No account or verification required
• Fast exchange with numerous supported coins
• 50% profits shared with FYP token holders
• The maximum trading amount is low
Flyp.me joins a growing list of cryptocurrency exchanges with no verification whatsoever. However, the company is doing a lot more than offering exchange services. By allowing traders to actively get involved in the company, they are fostering a relationship that is rarely found between exchanges and traders.