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CrowsNestEx FAQ (Updated 3/29/19)

CryptoCrowMar 29, 2019, 6:24:17 PM

Q: What tokens will CNE launch with?

A: CNE will launch with Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Stellar Lumens and Crow Coin at launch with plans for adding new projects often. These tokens will make up over 25 market pairs.

Q: Will CNE list Cardano?

A: We plan to eventually for sure. Adding new blockchains to CNE is a process with some expense associated with it though we plan to make Cardano a base pair in the future.

Q: When will CNE launch?

A: CNE will launch its test net in April, 2019 and will run for approx 2 weeks for testing, bug fixing and the like with the public before going Live.

Q: What is the Crow Coin?

A: Crow Coin is a utility token that will launch when CNE goes live. Crow Coins are planned to be listed on the exchange at .10 each with a limited supply being issued for sale each month as exchange volume increases at which point Crow Coins issued will be less and take place on a quarterly schedule. Crow Coins will be used by traders to pay up to 50% of their trading fees, buy merchandise and other uses as the token grows.

Q: Will CNE allow Fiat Deposits (US Dollars, etc)

A: Yes, customers will be able to deposit fiat currency through ACH or Wire Transfer.

Q: Will CNE be 100% Safe and Secure?

A: All exchanges do everything they can to remain as secure as possible, though even the largest and most well funded exchanges have been hacked in various ways. No exchange is 100% secure. Most often however, users that use the same passwords for everything they do online and or fail to utilize Google Two Factor and other security measures are typically the cause for loss on exchanges. We highly encourage all users of CNE to treat exchanges like bathrooms in that you go in, do your business and get out. Setup your account, buy the tokens you want and send them to a secure cold storage wallet or hardware wallet until you plan to sell them again. Never leave crypto sitting on an exchange and never invest more than you can afford to lose.

Q: Where should I buy Hardware Wallets to store my crypto?

A: Never buy hardware wallets from a 3rd party. Only buy them directly from the manufacturer. Some nefarious bad actors are known to rig hardware wallets to give them access to users crypto and re-package them to sell. It’s not difficult to make something look brand new.

Q: Does CNE list securities or just utility tokens?

A: Currently, Crows Nest Ex offers only Utility Tokens. In time, as we grow our operational licensing, we may begin listing securities as well. It may take a year before that is possible.

Q: I have a crypto project and would like to list on CNE, how do I go about it?

A: The first step is to submit an exchange listing form. From there, we will request a formal legal opinion explaining how your token is not to be considered a security. This legal opinion, as well as our own will then be submitted to the FinHub Division of the SEC for review. Upon acceptance, you will be asked to pay your listing fee in BTC and arrangements will be made to list your project.

Q: What defines a Security Token or Utility Token?

A: Here is a Howey Test Calculator that you can use to help determine your projects status.