Founded in late 2017 by a small team of professional software developers and veterans in the cryptocurrency space, Mercuriex was developed to provide a fast, secure and streamlined user experience.
Robert Parry, CEO MercuriEX talked with us in an interview. We exchanged some good thoughts on upcoming crypto market and the ease of crypto trading. Take a look at the straight forward answers we got from him.
Q. What is blockchain for you and what do you think about its future potential?
A. Blockchain for us, is THE future. Blockchain is not just about digital currency, it is an entire industry. Yes, digital currency is a major part of it, such as Bitcoin, Ethereum etc, but the possibilities for Blockchain technology goes far beyond currency. Blockchain is currently being used in supply-chain tracking of goods, distributed insurance, distributed lending, the internet-of-things just to name a few.
Q. What are your opinions on crypto trading for general public?
A. We truly believe that individuals should not be restricted by their countries outdated policies where trading and investing is concerned. Trading is not for everyone, but anyone who wants to take part should be allowed to. We would suggest, as always, conduct your own research before investing and ensure you understand the actual process to opening and closing trades and limiting losses, as there is a plethora of information available online for individuals to educate themselves.
After all, how can the status quo allow only the “highly educated” or individuals who are already wealthy to trade? Look at what is happening right now, yes Covid-19 global pandemic is causing mayhem in the markets but this is just the catalyst that has ignited this economic crisis that has been brewing for a long time. The FED and Central Banks around the globe have been churning out new paper-money en masse by the day even before Covid-19 was spreading and in the last week we have seen trillions of USD printed. Just today we have seen the ECB say they will continue to support the economy as much as needed, with “no limit”.
Q. Your Project Mercuriex? What is it about?
A. Mercuriex is a Cryptocurrency P2P Exchange. We facilitate a trade-platform where individuals can place secure trade orders to buy or sell their cryptocurrencies.
Q. What is SURF? What is the significance of this token?
A. SurfExUtilityToken, or SURF is our Exchange Utility Token. Every time a user on the exchange makes a trade, a tiny percentage of that trade is kept by the exchange as a trade-fee. Typically, trade fees are around 0.2% per trade. So if you make a trade with a value of $100, the fee is just 20 cents, and the fee is paid in the base-currency you are trading, so if you are buying or selling BTC (base) against ETH, your fee would be 20 cents worth of BTC.
SURF gives our users the option to pay their trade fees in SURF coin, instead of the BASE pair that they are trading with, but, if a user uses SURF to pay their fee, we give them a massive 50% discount. So instead of paying 20 cents worth of BTC, you would pay just 10 cents worth of SURF! This makes SURF very valuable to traders, in fact, it makes it worth twice as much as the current price, since you can buy SURF on the open market, and use it to pay your fees at half the price of its actual value.
Q. What motivated you to initiate this project?
A. Well, we have both been involved in the cryptocurrency space since 2013, and consequently involved in several projects at one point or another, as advisors, marketers and the like, but we’ve always felt like we could do much more. When the opportunity came up to buy Mercuriex from the previous owners, who developed it from the ground up, we knew this was our moment to act! We really believe that crypto is the future, so we’re positioning ourselves for that future right now. With the major shift in the economy globally and people wanting their own say, it just feels like the right time to do something really BIG like this.
Q. What is your vision and the goal you want to ultimately achieve with Mercuriex?
A. Short-term, after our upcoming IEO is completed we are going to pursue getting crypto-licenses around the world and build-up our exchange-user base and trade-volume and liquidity on the exchange.
Medium-term, we want to break into the “Top 100” crypto-exchanges, by daily trade volume. With our personal connections that we have within the crypto-space, we feel like this is achievable by the end of 2020.
Long-term, looking to 2021 and beyond, we’ll continue to grow and increase our internal team of staff to be able to support a global userbase of users. As the userbase increases we expect to increase our standing and position towards and beyond the “Top-50” exchanges.
Q. What benefits do SURF offer compared to other coins?
A. SURF is mainly going to be beneficial to our exchange users. As we mentioned, traders will be able to use SURF to pay trade fees at half the usual fee.
As a hypothetical, say you make a trade for $1,000,000 at most exchanges you’re going to be paying $2000 in fees, some exchanges are even more.
Lets assume, hypothetically, that SURF is worth 20 cents per coin. To pay your $2000 trade-fee you’d need 10,000 SURF ($2000 worth), but we’re giving you a 50% discount if you’re are paying in SURF, so you actually only need to pay $1,000 in SURF!
We also plan to allow “market makers” (that’s a user who places a limit order, or an order that is listed on the order books) and 0% trade-fee account if they maintain a certain amount of SURF in their Exchange accounts. We’ve not yet decided on the exact figure yet but when we do so we’ll announce it accordingly. By having market-makers effectively hoarding SURF on their exchange accounts, we expect the supply to be reduced, and as SURF is valuable to traders, we would expect the value to increase.
Q. How much investment do you seek with your IEO?
A. We are aiming to raise between 400-800 Bitcoin in the SURF IEO. We had originally set the cost of SURF to a USD price of around 20 cents, but the sale itself was always going to be held in Bitcoin, the problem is, with Bitcoin value fluctuating so much the price kept changing, so we decided to simply set prices in Bitcoin instead.
Basically, whatever funds we raise with the IEO will go towards the expansion and improvement of the exchange. The more we can raise, the quicker and smoother our expansion should be.
Q. How do you plan to expand in near future?
A. Initially, we will be seeking crypto-licensing globally, that can be time consuming and expensive, as we have to meet certain regulatory requirements in each individual region, but once we have licenses to operate in certain regions we can start to roll-out other services.
As we become licensed in new regions, we will start to attract new users and as our userbase grows we will expand our internal team to ensure we have sufficient support staff to support that expanding userbase. We aim to have fast acting support to resolve any user issues that may arise.
We will also be seeking insurance for the crypto-assets that we hold for our users, this will attract more users who will know that their funds will be safe with us.
SurfExUtilityToken [SURF] IEO starts on Monday 23rd March and ends 24th April.
Sign up to the IEO at Latoken. Anyone buying on Latoken within the first week will receive a 50% discount!
Useful links :
SURF Latoken IEO: https://go.latoken.com/o3
Mercuriex.com Cryptocurrency Exchange: www.mercuriex.com
For More info about SURF : www.surfex.us