Xu Haifeng, founder of Coinnice Exchange

As the world's top financial service provider and the world's most professional virtual currency comprehensive service platform, Coinnice Exchange has been favored by a large number of virtual currency enthusiasts for its efficient, safe, professional and considerate services since its launch.

It is understood that Coinnice is an emerging digital currency exchange, formerly known as the Grapecoin Exchange, which was first established in August 2014. Coinnice has received angel investment of 1.8 million US dollars from overseas investors. On June 18, 2015, Coinnice officially went online. From November 1 to November 30, Coinnice will hold a one-month spot and futures competition. The special prize of the spot competition is a cash prize of 100,000 yuan, and the special prize of the futures competition is a Tesla car worth 1.2 million yuan! In the market where people generally believe that Bitcoin has not yet emerged from the cold winter haze, such a generous move is obviously very eye-catching.

     Today we are very fortunate to have contacted Mr. Xu Haifeng, the founder of Coinnice Exchange, and had an in-depth discussion on several issues that users are concerned about, such as team background, market analysis, product introduction, profit model and risk management. The following is the main content of this interview:

Coinnice founder Xu Haifeng

1. Hello Mr. Xu, thank you very much for taking the time to accept our interview. I hope this interview can share more detailed information about Coinnice. First of all, can you give us a brief introduction of yourself?

A : Hello everyone , I am Xu Haifeng, the founder of Coinnice . I have been paying attention to macroeconomics , finance and mobile Internet for a long time. I used to be mainly engaged in market media, channel sales and management , and terminal market management. I also did smart hardware creation , design , R&D, production and sales . Later, after I came into contact with Bitcoin in 2013 , I had an indissoluble bond with Bitcoin and became a staunch supporter of Bitcoin .

2. Let's talk about a more relaxed and interesting topic. We all know that the previous name of Coinnice Exchange was Grape Coin Exchange, and the operating company of your platform is also called Grape Technology. So the question is, why did you choose the fruit "grape" as the "totem" of the platform and company? Why did the platform change its name to Coinnice later? What is the meaning of Coinnice?

At first, we named it "Grape" because we admire Apple 's business philosophy. Apple pursues the ultimate beauty in making products and can create the best products and services from its own perspective. The reason why we chose " Grape " is certainly not to copy Apple, but mainly to pay tribute to Mr. Steve Jobs, the founder of Apple! Or it can remind us to always explore and create with the user experience as the center , and pursue the true ultimate spirit . So before the emergence of Coinnice , we have always been called " Grape Coin Exchange " , but when our domain name Coinnice was confirmed , in order to avoid confusion between Grape Coin Exchange and Coinnice , we decided to use the domain name Coinnice as our only brand strategy . Coinnice ! Investing is nicer ! It is also an investment mentality that we want to convey to users! So Coinnice was born and replaced "Grape"!

3. What is Coinnice's own positioning? What are its characteristics? How to achieve differentiated competition?

The characteristic of Coinnice is the continuous innovation and improvement of services. Our current differentiated services include the credit model of financing and currency , which greatly improves the convenience without the process of borrowing and repaying . The first RMB withdrawal is free of handling fees, which greatly improves the liquidity and security of user assets . Among them , the characteristic innovative services also include real-time settlement of profits, rolling delivery, transaction extension, stop profit and stop loss, market maker system, etc.! The real-time settlement mode of futures profits can greatly improve the efficiency of capital use without closing positions ; the rolling delivery mode can make the position more smoothly transition to unlimited extension. If there is no explosion, it is normal to hold a position for one year .

As an auxiliary trading system, the market maker system has greatly increased the liquidity and depth of the market. In fact, these innovations are only part of what has been achieved .

We will also launch other services from the end of this year to 2016. For example, NICE direct investment , NICE treasure , video customer service , etc. In fact, I think the most special thing about Coinice is that we are not working behind closed doors, we are open in spirit and attitude ! We are willing to listen to all reasonable suggestions, willing to disclose various data related to user asset protection, and will not touch a penny of the user's assets on the Coinice platform. We are a service platform with a moral bottom line. At present, we will work hard to fulfill the promises made to users. Even if we cannot do the details such as withdrawal delays, we will give users certain compensation and reasonable explanations. We will continue to improve the service quality of users , and user satisfaction is our driving force for progress .

4. What do you think of the current status of the digital virtual currency market? In which direction will the market develop and how big will the overall market be? How much market share does the company plan to occupy in this large market?

At the time of our interview, Bitcoin was experiencing a surge since 2015. The market size of spot and futures trading exceeded 10 billion . We are firm supporters of Bitcoin and we believe that Bitcoin will have a better tomorrow and a bright and glorious future.

The Bitcoin market is full of innovation and opportunities . We are determined to build the entire Bitcoin financial ecosystem service . The market value of Bitcoin has reached more than 4 billion US dollars . We believe that the market size of Bitcoin may reach 25 billion US dollars by the end of 2017. The spot and futures trading market will reach an average daily trading volume of 60 billion RMB (domestic) . We will strive to gain a larger market share through solid and innovative services . This is also our future goal.

5. How many registered users does the company have at present? Who are they? How to expand the number of users, maintain user loyalty, and improve user satisfaction?

Since the official promotion , the number of registered users has exceeded 1,000 . The platform group is still mainly young Bitcoin investment enthusiasts . For a new platform, we can have a stable number of registrations every day , which we are very pleased about. At least it proves that there are still many users who recognize our innovation and services. This number is just a beginning. As everyone continues to get to know Coinnice in depth , I think we will get to know more coin friends with the same beliefs.

Market expansion: We will obtain a part of the pie through competitive advantages and efforts , and we will also make the pie bigger through external promotion . We retain users through truly valuable services, and any dissatisfaction of users is the driving force for our progress . At present, our user stickiness is very high , which has also become a huge spiritual driving force for us.

6. What products and services does the company currently have? How do the products operate specifically? Of course, please also briefly talk about the source and destination of product funds, which is of particular concern to the majority of users.

The main products include Bitcoin and Litecoin spot and contract trading. For contract trading, we support a maximum leverage of 50 times . Profits can be settled in real time, rolled over, traded overdue, with stop-profit and stop-loss functions, a market maker system, and more!

By the end of the year, we will launch nice financial management, nice treasure and nice investment . These are our core competitive advantages and innovations .

7. In the current market environment, how will the company achieve profitability? At what point will it consider profitability? What should be done before profitability to achieve sustainable operation?

The main profits come from futures, extensions and spot financing and currency lending fees . There is no shortcut to achieving sustainable operation. Only by standing from the user's perspective, constantly listening to everyone's voice, constantly innovating and improving one's own shortcomings , can one achieve sustainable operation .

At this stage, we are considering how to expand the market size as quickly as possible, rather than making profits. Only with the market and users can there be future profits. Therefore, we have planned various promotional activities and competitions to make the Bitcoin market atmosphere more enthusiastic.

8. Which projects and products will become the focus of Coinnice’s R&D and promotion?

Coinnice 's core business is contract trading . In December 2015, the special prize of the "Yuyue Cup" Futures Competition of Coinnice was a Tesla . Tesla 's first SUV model, Tesla Model X, was officially released. The new Model X is a crossover design similar to the BMW 5 Series GT. According to foreign media comments, this may be the most advanced and sci-fi crossover car in the world. The fact that it is pure electric is enough to attract the attention of the world. In 2016 , we will hold 27 futures rally competitions throughout the year, with a budget prize of 10 million yuan.

9. What challenges does Coinnice Exchange currently face? How to overcome these challenges?

The issues of users' trust in the new platform , the continuous improvement of the new platform's data processing capabilities, and the risk control issues involved in contract exchanges are all relatively large challenges we face. We will actively meet these challenges and achieve victory .

Coinnice promises to all coin friends to make the reserve public and publicize the balance of users' assets, including RMB, BTC, and LTC accounts. We will not use a single cent of users' money. Our trading platform has neither ownership nor right to use users' assets, but only the right to manage them. Misappropriation of users' assets is a crime and a loss of moral bottom line.

We have decided to officially disclose the coin deposit address information in December, and will announce the asset information of related accounts on public platforms such as Weibo, WeChat, QQ groups, and websites every day.

We will conduct routine audits on users' asset information every month. In order to save costs (generally, large-scale audit companies charge millions of dollars for one audit, and small and medium-sized audit companies also charge tens of thousands to hundreds of thousands of dollars), and to reduce unnecessary costs, we will consider implementing internal audits and inviting influential celebrities in the Bitcoin circle and Bitcoin friends recommended by everyone to serve as supervisors. We will make all processes and information public.

Some of the large-scale promotional activities we organize have an annual budget of nearly several million, which is actually equivalent to returning part of the fees collected, providing benefits to the majority of investors and enthusiasts, better promoting the healthy development of the market, cultivating the enthusiasm of new coin friends and improving the good atmosphere in the currency circle.