Coin98 The Crypto Super App Redefining DeFi with Accessibility, Security, and Innovation.
A Layman's deep dive Article to Explore the features and capabilities of Coin98.
Decentralized Finance (DeFi) has emerged as a revolutionary force in the financial world, aiming to democratize access and disrupt traditional financial institutions. A financial system built on peer-to-peer interactions, transparent protocols, and blockchain technology – that's the essence of DeFi.
Unlike traditional systems controlled by centralized entities, DeFi leverages smart contracts on blockchains, creating open and accessible financial instruments. Transactions are recorded publicly on the blockchain, fostering trust and transparency.
Remember that first Journey into DeFi? Deciphering cryptic code, hopping between a dozen platforms, and sweating through every transaction – a crypto jungle ripe for users to panic.
This chaotic landscape, while thrilling for enthusiasts, is a major barrier to wider adoption. And as the adoption of digital assets continues to surge, users still face the numerous obstacles that hinder widespread adoption.
Some include:
Complexity overload: Blockchain technology, while revolutionary, can be intimidating for newcomers. Jargon, protocols, and endless interfaces create a steep learning curve, discouraging potential users.
Security woes: Hacks, scams, and rug pulls lurk around every corner, shaking even the most seasoned investor's confidence. Building trust and ensuring security are paramount for wider adoption.
Fragmented experience: Juggling multiple platforms for different needs – wallets, exchanges, DeFi protocols – is cumbersome and inefficient. A unified experience is crucial for seamless interaction.
Coin98 solved all this issues.
➡ In this deep dive, we’ll delve into Coin98’s ecosystem, analyze its offerings, and explore its potential to revolutionize crypto accessibility.
Brief Background
Coin98 was founded in 2017 by engineer and tech entrepreneur Thanh Le. The Vietnam-born founder developed the platform when working with a team of crypto investment researchers who were looking for DeFi investment opportunities. According to this ‘article’, prior to founding Coin98, Thanh Le had co-founded a couple of tech start-ups.
The idea behind Coin98 began taking shape in early 2020. With decentralized finance reaching new highs in terms of attention and value contributed by users, it was an excellent time to develop a new project. Since there was a need for an open financial infrastructure in the world, the Coin98 team turned it into their mission.
GigaChads behind this innovation ↙
Coin98 as a comprehensive ecosystem that aims to provide users with various DeFi features and services across multiple blockchains. To achieve this vision, Coin98 developed into three main arms: Coin98 Labs, Coin98 Ventures, and Coin98 Network.
Coin98 Labs: Is the product arm of Coin98, where talented researchers and engineers work on developing innovative solutions for the existing problems in the DeFi market. Some of the products created by Coin98 Labs include Coin98 Wallet, a multi-chain wallet that supports over 20 blockchains and thousands of tokens; Coin98 Exchange, a cross-chain DEX aggregator that connects users to the best liquidity sources; and Coin98 Bridge, a cross-chain bridge that enables fast and secure asset transfers between different networks.
Coin98 Ventures: Is the investment arm of Coin98, where they support and bootstrap new projects and builders in the DeFi space. Coin98 Ventures provides funding, mentorship, marketing, and technical assistance to promising teams and projects that share the same vision of building an open and interoperable financial infrastructure. Coin98 Ventures also helps to integrate Coin98 Wallet with various DeFi protocols and products, increasing the exposure and adoption of Coin98 products.
Coin98 Network: Is the media and education arm of Coin98, where they focus on creating and delivering high-quality content and information about DeFi and blockchain to the global audience. According to this ‘article’, Coin98 Network operates various platforms and channels, such as Coin98 Insights, a research and analysis platform that covers the latest trends and insights in DeFi; Coin98 Academy, an online learning platform that offers courses and tutorials on DeFi and blockchain; and Coin98 Community, a social network that connects and engages users with the Coin98 ecosystem and other DeFi enthusiasts.
Together, these three arms form a synergistic and holistic ecosystem that strives to make DeFi accessible and enjoyable for everyone. Offering to build an ecosystem of resources to help growth and development of crucial sectors. Its ecosystem in short term consists of 3 main pillars — investments, technology and media.
Coin98 also has its own native token, C98, which is used for governance, staking, rewards, and accessing various benefits within the Coin98 ecosystem.
1. Introducing Coin98
You may ask, what exactly is Coin98?
Coin98 positions itself as a "crypto super app", aiming to be the all-in-one platform for Web3 interaction designed to seamlessly connect a billion users to the crypto world safely and securely.
The app simplifies DeFi by offering certain services but not limited to:
Non-custodial wallet: Store and manage various cryptocurrencies and NFTs.
Built-in DEXs: Swap tokens within the app.
Staking & Earning: Generate passive income through DeFi protocols.
Portfolio tracking: Monitor your crypto holdings across different chains.
Market analysis & educational resources: Stay informed and learn about crypto.
Coin98 stands as a holistic cryptocurrency and DeFi platform, offering such diverse array of services encompassing portfolio management, trading, and access to decentralized finance protocols. Through its centralized hub, users can seamlessly oversee their crypto assets and delve into a myriad of DeFi opportunities, all through a singular, intuitive interface designed with user convenience in mind thus making it the most beginner friendly all in one app.
Since its inception, the Coin98 Super App has attracted over 1,000,000 users worldwide, a testament to its reliability, versatility, and accessibility. Available on mobile devices, as a browser extension, and via our website, Coin98 empowers users to engage with the crypto ecosystem anytime, anywhere, across multiple platforms.
1.1 The Differences are Clear with Coin98 in Web3
Unlike centralized exchanges that require users to deposit their funds into custodial wallets, Coin98's non-custodial wallet ensures that users retain full control over their assets at all times. This decentralized approach not only enhances security but also aligns with the core principles of blockchain technology.
↪ Making Coin98's multi-chain capabilities further set it apart from competitors, allowing users to access a diverse range of cryptocurrencies and DeFi protocols from a single platform. Whether users are trading Ethereum-based tokens or participating in liquidity pools on the Binance Smart Chain, Solana chain, Coin98 provides a seamless cross-chain experience.
Moreover, Coin98's commitment to user education and empowerment further distinguishes it as more than just a DeFi platform. Through comprehensive tutorials, guides, and community engagement initiatives, Coin98 fosters a supportive environment where users can learn, grow, and thrive in the world of decentralized finance.
2. Diving into Coin98's Products, C98, Unique Functionalities.
Coin98 has many products that make it a powerful and versatile platform for DeFi. which are:
Coin98 Exchange - The exchange interface is sleek and intuitive; it makes it easy for users to execute trades quickly and efficiently. With support for limit orders, market orders, and advanced trading tools, Coin98 Exchange caters to the needs of both novice and experienced traders.
➡ Moreover, Coin98 Exchange is an all-in-one DeFi platform that offers many services on multiple blockchains. It allows users to swap, stake, lend, borrow, earn crypto, and access a variety of DeFi services in one place, at ease making it the exchange aims to be the gateway from Traditional Finance (Trad Fi) to Decentralized Finance (DeFi).
Coin98 Portfolio - The portfolio management tool provides users with a comprehensive overview of their assets, including real-time price updates, portfolio performance metrics, and customizable watchlists. With support for multi-chain assets, users can easily track their investments across different blockchains.
According to Coin98, this is a special feature of Coin98 Portfolio compared to other competitors in the market, allowing you to view the total value, as well as the proportions and statistics of your assets with an intuitive graph.
Coin98 Markets - Coin98 Markets offer users access to a wealth of real-time market data, including price charts, trading volume, liquidity metrics, and more. Whether users are conducting market research or monitoring price movements, Coin98 Markets provide the insights needed to make informed trading decisions.
▪ Coin98 Portfolio currently supports 11+ blockchains in total, including Solana, Ethereum, BSC, HECO, Avalanche C-Chain, Tron, TomoChain, Near, Polkadot, Kusama, Celo.
Coin98 Terminals: The terminals are a game-changer for traders seeking advanced tools and analytics. From candlestick charts to technical indicators, Coin98 Terminals offer a suite of features designed to help users analyze market trends and develop winning trading strategies.
➡ Coin98 Terminals outstanding tools ↙
Token Issuer.
Multi-send.
Wallet Approval.
Solana Migration.
Solana Claim.
Blockchain Explorers.
Multi-sig (Coming soon).
Coin98 Staking: Staking has emerged as a popular way for cryptocurrency holders to earn passive income while contributing to the security and stability of blockchain networks. Coin98's staking feature makes it easy for users to participate in staking pools across multiple chains, earning rewards in the process.
They give Staking offers fixed interest rates based on your staking plans. There are three different packages with suitable staking periods and amounts of tokens for users to engage.
Tear Down the Walls, Build the Bridges: Coin98's Space Gate - Remember the quote "Humans build too many walls, but not many bridges"? Well, Coin98 is smashing those walls in the blockchain world with their Space Gate cross-chain bridge. Space Gate lets you seamlessly transfer your assets across various chains, including L1s and L2s, with ease.
Coin98 Space Gate smashes blockchain barriers, effortlessly transferring your assets across chains like Ethereum, Optimism, Arbitrum, and more. Even consolidate your Solana SPL tokens in one address with its Migration tool! As new bridges & assets are added, Coin98 bridges the gap for widespread crypto adoption.
2.1 Coin98’s Token
(C98) is the Coin98’s native cryptocurrency, and has a spot on the Solana network, the Binance Smart Chain, and then the Ethereum Blockchain.
Owning C98 tokens unlocks several advantages for users such as -
Passive income: Token holders automatically receive a portion of network transaction fees and can also stake their C98 to earn additional rewards.
Governance participation: C98 holders have a voice in the platform's future by submitting and voting on proposals related to updates and development.
Exclusive benefits: Holding more C98 grants access to perks like airdrops, early participation in new network projects, and other rewards.
Beyond token benefits, C98 boasts a diverse ecosystem divided within three arms -
Coin98 Labs: Drives internal development of core features like the wallet, exchange, and cross-chain bridges.
Coin98 Ventures: Supports and incubates promising DeFi projects by connecting them with potential investors.
Coin98 Network: Leverages the C98 token as fuel for various ecosystem interactions, creating a synergistic relationship between the token and platform.
This three-pronged approach allows Coin98 to be more than just a single app; it's a comprehensive ecosystem supporting both users and innovative DeFi projects.
For C98 allocation C98 token is allocated as follows:
21% is allocated to Ecosystem Growth
20% is allocated to Community Development
20% for Development Team
12% for Treasury
5% for Seed Sale
5% for Binance Launchpad Sale and
2% is allocated to Advisors.
Coin98 has a circulating supply of 185,000,000 C98. Total Supply of 185,000,000 C98 and Maximum supply of 1,000,000,000 C98.
If you envision a future where blockchain interoperability and accessibility are key pillars of the digital economy, investing in C98 may align with your beliefs. By holding the C98 token, investors gain the opportunity to actively engage in governance, staking, voting, and a host of other functionalities within the Coin98 ecosystem. With its ambitious objectives and potential for growth, C98 offers investors a chance to participate in shaping the future of decentralized finance and blockchain innovation.
↘ So, far what I love about the C98 coin is the fact that it’s used for participating in network governance, for holders to earn transaction fees, and to interact with the overall Coin98 ecosystem.
2.2 Coin98 Unique Functionalities that must be Acknowledged.
Most people actually don’t understand what exactly the term ‘Unique functionalities of a product’ means. 💁
In simple terms, unique functionalities are the distinctive or special features or capabilities that something has or can do. For example, a unique functionality of a website might be its ability to offer personalized recommendations or live chat support. Unique functionalities are often used to differentiate a product or service from its competitors and attract more customers.
➡ While Coin98 shares some similarities with other crypto apps, it boasts several unique functionalities that set it apart.
Which are - ↙
🔹Unified Experience - Unlike apps requiring platform hopping for different needs, Coin98 integrates a non-custodial wallet, DEXs, staking, portfolio tracking, market analysis, and educational resources into one seamless platform. Users manage their entire crypto journey within a single, familiar interface.
🔹Multi-Chain Focus -While many super apps focus on specific blockchains, Coin98 prioritizes multi-chain support, currently integrating over 20 blockchains like Ethereum, Solana, and Binance Chain. This allows users to access a broader range of DeFi functionalities and assets without switching platforms.
🔹Built-in DEXs - Instead of relying on external exchanges, Coin98 offers native DEXs directly within the app. This provides users with convenient token swaps, improved security, and potentially lower fees compared to external options.
🔹Cross-Chain Bridge - Moving assets between different blockchains can be complex. Coin98's integrated cross-chain bridge simplifies this process, allowing users to seamlessly transfer their crypto across supported chains directly within the app.
🔹Advanced Features - For experienced users, Coin98 offers a powerful terminal with advanced trading tools, market analysis, and on-chain interaction capabilities. This caters to users who demand more control and deeper insight into their crypto activities.
🔹Focus on Education: Coin98 recognizes the importance of education in fostering safe and responsible crypto participation. They offer comprehensive educational resources within the app, helping users understand blockchain technology, DeFi protocols, and best practices for managing their digital assets.
🔹Planned NFT Lending: While not yet available, Coin98 plans to incorporate NFT lending, enabling users to borrow and lend their NFTs, expanding the functionality of their platform and tapping into the growing NFT market.
🔹Social Features (Future): Coin98's roadmap also includes integrating social features, fostering a sense of community within the app and potentially attracting new users through network effects.
3. Into the Future with Coin98
As DeFi holds immense potential to democratize finance. Coin98 Labs is committed to making this future a reality, empowering everyone to participate in this transformative movement, regardless of their technical expertise.
Coin98 Labs isn't just building a super app; it's constructing a comprehensive DeFi ecosystem. ↘ While details are here's a sneak peek at some highly anticipated features in the works -
1. Coin98 Lend & Borrow: Imagine borrowing or lending crypto assets seamlessly within the Coin98 app. This feature aims to unlock new earning opportunities and flexible asset management for users.
2. Coin98 Mega Farm: DeFi farming will definitely get exciting with Coin98's dedicated platform. Simplify liquidity provision and earn rewards effortlessly within the familiar Coin98 interface.
3. Coin98 NFT Marketplace: The NFT revolution is here, and Coin98 is joining the game. Buy and sell your NFT collection directly within the app, creating a streamlined experience for NFT enthusiasts.
4. Coin98 Derivatives: This feature is my most anticipated so far it will take your trading to the next level with advanced derivative instruments offered by Coin98. While details are still emerging, this feature caters to experienced users seeking sophisticated trading strategies.
While the initial vision is laid out, the specific functionalities and iterations of these features will be shaped by open dialogue and community feedback.
➡ But are the Planned & under development projects realistic?
You may be in thought as well ↗ Tho the proposed features are ambitious, their success depends on:
Execution: Delivering features with high quality and security.
Market adoption: Capturing enough users to make these features viable.
Regulatory compliance: Navigating evolving regulations across different jurisdictions.
The goal, of course, is to increase accessibility within the DeFi space and I trust Coin98 to be on the move and start developing, they recently developed a new NFT Multisend feature to help you easily transfer thousands of NFTs to another wallet addresses in just a click.
Announced on the Coin98 official twitter handle. This indeed shows that the team is up and running, creating and making sure all planned features are successfully developed.
4. Creating a Multichain Wallet
After all this interesting context about coin98 it is of no doubt that you will want to try it out. The first step is creating a multichain wallet.
The Coin98 Multichain Wallet is accessible both on your browser extension and mobile app.
▶ Follow these simple steps to get started:
Open the app or extension and locate the "Wallet" icon.
Select "multi-chain" and then "Add Wallet."
Choose "Multichain Wallet" and give it a recognizable name.
A 12-word Passphrase will appear. Write it down and store it securely, as this is your key to accessing your wallet!
Re-enter the Passphrase and agree to the terms.
Congratulations! Your Multichain Wallet is ready.
Now you can:
Send and receive crypto tokens across various blockchains.
Store your NFTs and digital assets in one convenient location.
Swap tokens within the app using built-in DEXs.
Track your portfolio performance and stay informed about DeFi trends.
Remember: ⤵
Your Passphrase is crucial, so keep it safe and never share it with anyone.
Consider using a password manager for additional security.
Explore the full range of features within the Coin98 app to maximize your crypto experience.
5. Coin98 vs. Key Competitors: A Multifaceted Analysis
The crypto super app space is heating up, with players like Coin98, MetaMask, Trust Wallet, and Math Wallet vying for dominance. Each app offers a unique blend of features and functionalities, catering to different user needs and preferences.
➡ Let’s further analyze Coin98 strength, Challanges, Key competitors and personal suggestion from me.
5.1 Coin98's Strengths:
Unified Experience: Coin98 integrates a non-custodial wallet, DEXs, staking, portfolio tracking, market analysis, and educational resources into one seamless platform. This eliminates the need for juggling multiple apps and simplifies the crypto journey for users.
Multi-Chain Focus: While many competitors focus on specific blockchains, Coin98 supports over 20 chains, including Ethereum, Solana, and Binance Chain. This allows users to access a wider range of DeFi functionalities and assets without switching platforms.
Advanced Features: Coin98 offers a powerful terminal with advanced trading tools, market analysis, and on-chain interaction capabilities, catering to experienced users seeking more control and deeper insights.
Focus on Southeast Asia: While expanding globally, Coin98 has established a strong presence in Southeast Asia, a region with significant crypto adoption. This localized approach helps cater to specific needs and cultural nuances, potentially accelerating user growth.
5.2 Coin98's Challenges I noticed so far:
Competition: Established players like MetaMask and Trust Wallet have a significant user base and brand recognition.
Regulatory Landscape: Navigating evolving regulations across different jurisdictions can be complex for any super app.
Balancing Simplicity with Power: Catering to both beginners and experienced users requires a delicate balance in design and feature offerings.
5.3 Key Competitors:
MetaMask: Popular wallet with built-in DEXs and NFT support but lacks multichain functionality and educational resources.
Trust Wallet: User-friendly wallet with built-in DEXs and NFT support but focuses on fewer blockchains than Coin98.
Math Wallet: Multi-chain wallet with DEXs and DApp browser but lacks Coin98's educational resources and advanced features.
While "superior" is subjective and depends on individual needs, Coin98 Wallet presents several advantages over its competitors.
Tho the cross-chain space is bustling, but Coin98 isn't lost in the crowd. They stand out by strategically partnering with diverse networks, aiming for maximum cross-chain accessibility and a seamless user experience. This ambitious scope could be a major draw for crypto enthusiasts seeking flexibility and freedom.
Their efforts culminate in Space Gate, a powerful protocol. Imagine accessing 20+ networks instantly, swapping tokens, and exploring DeFi opportunities across them all – that's the reality Coin98 offers. This unmatched interoperability sets them apart and could be a game-changer.
5.4 Critiques and Suggestions
Coin98 has made significant strides in democratizing access to cryptocurrencies and DeFi, I think there are few areas for improvement like -
User Onboarding: Simplifying the onboarding process for new users could help lower barriers to entry and attract a broader audience to the platform.
Educational Resources: While Coin98 offers educational resources, enhancing the depth and breadth of these materials could further empower users to make informed decisions.
Customer Support: Strengthening customer support channels and response times would improve the overall user experience and foster trust and confidence in the platform.
6. Should we be excited about coin98 innovation?
The short answer ‘YES’
Actually, what excites me the most about Coin98 is its unwavering commitment to democratizing access to decentralized finance (DeFi) and revolutionizing the way individuals interact with digital assets.
Another aspect that particularly excites me is Coin98's comprehensive ecosystem of services, which caters to the diverse needs of users worldwide. From its multi-chain wallet supporting NFTs and decentralized exchanges to its upcoming projects in lending, borrowing, and derivatives trading, Coin98 offers a centralized hub for users to explore and engage with the full spectrum of DeFi opportunities.
Additionally, Coin98's focus on user education and empowerment. By providing intuitive interfaces, educational resources, and community engagement initiatives, Coin98 is breaking down barriers to entry and empowering individuals from all walks of life to participate in the digital economy.
7. Conclusion
Through this article, we have explored the remarkable potential and features of Coin98 as it stands out as more than just cross-chain connections. They offer advanced tools for experienced users, educational resources for beginners, and a regional focus that fosters community. Their roadmap hints at constant innovation, with features like NFT lending and social integration on the horizon.
Embracing the potential of coin98, we anticipate a brighter future for the DeFi ecosystem, empowering users and paving the way for widespread adoption.
Whether you're a seasoned DeFi explorer or a curious newcomer, Coin98's wide-ranging embrace and commitment to ease of use hold immense potential. This isn't just another crypto app; it's an invitation to explore a boundless universe of financial possibilities.
If you enjoyed this article and are eager to read more of its kind, kindly consider liking and subscribing to my Substack. Additionally, if you notice any inaccuracies or have any suggestions, please share them in the comments section, and I will gladly make the necessary adjustments.
Disclaimer:
While the information presented is based on Coin98's official sources and third-party sites, it's solely intended for informational and entertainment purposes. It does not constitute financial, legal, or tax advice. Remember, trading cryptocurrencies involves significant risks, and you should always conduct your own research before making any investment decisions. Please refer to Coin98's full disclaimer for further details