Tagz Exchange appeared as a brand new Australian-established cryptocurrency trade this past year, but it’s rapidly assembled the community’s focus with substantial volumes and steady functionality.
CryptoPotato lately had the chance to talk with the CEO of Tagz Exchange, Bryan Seiler.
The interview began with a query on the market’s exceptional qualities which may differentiate it from all competitors in the area. Seiler stated that “one of the biggest and most attractive features of Tagz is that we’ve come out of the woodwork, since March last year.”
He also highlighted the climbing trading volume to the market and they currently have “millions and millions of dollars in liquidity.” Moreover, he says that the customers love the item, because of how easy it’s to function and the breakneck speed of completing trades.
The withdrawal and deposit procedures are automatic, meaning they are implemented immediately, according to the CEO.
Tagz Australian Regulations
The exchange relies and regulated at Australia, along with also the meeting touched on what this means precisely. Seiler stated that “Australia is quite stringent and strict on complying on all government policies surrounding digital currencies and DCE (digital currency exchange). So we have that respective licensing to be able to run that exchange. Also, the Australian Securities and Investment Commission (ASIC), compared to the U.S. SEC, oversee all Australian companies, registrations, licenses, definitely towards crypto and digital currency space as well.”
“We obviously have all that checked off, so we’ve got the registrations and licenses in place. As an added to that, we’ve even got the (AUSTRAC) Australian Transaction Report and Analysis Centre, and they even do more checks on exchanges as well, so we need to report to them on a regular basis to make sure that we are covering all bases.”
He also adds they have a remittance permit, which frees them to add fiat pairing, for example AUS, USD, EUR, but may add this choice later in 2020. Additionally, the transports will be immediately too, he notes.
Seiler states they have advanced security measures, which makes it difficult for anyone to obtain access to some code, let alone to some funds. He suggests that the market stays just 10percent of funds in hot pockets, meaning 90percent are about cold pockets.
“Hypothetically, even if there was able to be a breach, obviously we need that plan B, C, and D in place that if someone was able to get access, they can really only get 10% which is secured in custody anyway, so technically there are no losses to users.”
He also educates that Tagz has its own AI functioning in real-time, and if it finds any suspicious action, it might freeze or freeze that consumer’s account. In past circumstances, that the AI has allegedly acted accordingly in small dangers and served its function.
Future Plans and Bitcoin at 2030
Tagz’ CEO informs that the market is presently conducting its Beta variant and is currently working on releasing iOS and Android programs, coming up soon. Later in 2020, they’ll establish a full blown platform, such as Bitcoin margin trading. They also wish to create the Know-Your-Customer (KYC) procedure more comfortable, as it might take around 48 hours as of today.
As much as Bitcoin’s future growth, Seiler states that people take it as a store of value today, but they aren’t that eager to really spend it. Users purchase it together with the only goal of earning money, but overall, he is very bullish and considers mass adoption is coming from the forthcoming ten decades.
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