400,000 Registered Users in Six Months and Ranks Among the Top 3 in the World, How 58COIN did it?

3 min readMar 15, 2019

The latest annual report disclosed by 58COIN shows that the platform has been running smoothly for 490 days with an accumulated transaction volume of over $200 billion. The registered users have exceeded 400,000 and 58COIN has saved about $70 million for them, among them, the perpetual contract (swap) contributed more than 85%. During the year, customer service reached 250,000 times.

At the beginning of 2018, it was still a little-known small platform, but in just six months, 58COIN was among the top exchanges. Let’s see how 58COIN made that happen?

1. Reasonable and Scientific Trading Mechanism

58COIN’s Perpetual Contract (Swap) tethers to “index price” to defend against market manipulation, while the Index Price builds from the weighted average price of the world head exchanges. Such a mechanism is more scientific and advanced than “exchange price”, it will not cause unreasonable liquidations due to churning, wash trading, pump and dump, bear raiding, etc. Many investors who have been unfairly treated are attracted. Here, everything is market-oriented, and it is a pure exchange of fair and free trades.

2. The Lowest Fee in the Industry

The Spot and OTC trades on 58COIN are fees-free. The fees for the contract is only 0.015%, that is, if you make a 10,000 CNY position transaction, 58COIN will charge only 1.5 CNY as the fee. This is not only the lowest in the whole industry but also the lowest since the introduction of contract trades.

Users who have trades contracts of other exchanges, especially those who have suffered high and complicated fee of Western exchanges came to 58COIN to enjoy relaxed trading.

3. The Earliest Swap in Asia

58COIN is the first exchange that introduced perpetual contract in Asia. In the bear market, as the price of digital currencies continuously drops on a monthly basis, the launch of swap appeared to be timely rain: long, short, buy and sell; multiple leverages, investors can still make profits in the bear market.

The introduction of the USDT contract in the second half of the year is a big boon for bear market investors. It uses USDT as both quote currency and settlement currency, which can avoid the loss of the total market cap of the assets in the contract due to the price fluctuation.

Contract trades, regardless of the bear market and bull market, in which investors can make profits if there are fluctuations. These free and unrestricted profit-making trades are exactly what investors are looking for.

4. Continuous Innovations and Upgrades

In just six months, 58COIN launched Perpetual Contract, USDT Contract, Regular Contract. It is indeed the platform with the strongest innovative capability and most comprehensive product ranges.

In addition, 58COIN Exchange also has a scientific and humanized product mechanism, including security margin mechanism, stop loss mechanism and anti-liquidation mechanism, which ensures more convenient and intelligent investing environment, and makes the contract more in line with Asian investors.

5. User First

It is a customer-oriented service philosophy that makes 58COIN so popular among investors. 58COIN offers 7x24h online customer service to ensure the instant response to customer’s problems. Besides, the rich broker rebates are unique in the whole industry, a broker can enjoy a minimum of 60% permanent rebates if he/she invites 3 valid users per week.

Besides, 58COIN values every user. In 2018, 10,000 Yangcheng Lake hairy crabs and 10,000 Chagan Lake fresh fishes were sent to users during the anniversary and the Chinese Spring Festival. Such gifts may not be considered valuable but are unique in the industry.

6. Global Business Expanding

In November 2017, the 58COIN exchange was established in Marshall. More than a year later, the 58COIN Exchange North America Center was officially settled in New York, marking the contract trades move from the Asian market to the European market in 2019. 58COIN is expanding its digital currency services to worldwide.

In the ever-changing digital currency market, 58COIN, as a new exchange, stands still and grows even stronger. It attributes all our achievements to the user’s support and encouragement. 58COIN seeks to achieve win-win cooperation with worldwide users.

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