Last week BitBounce announced that it would be launching a new cryptocurrency exchange called CredoEx. BitBounce is a blockchain company determined to solve the problem of spam email by charging people Credo token (CREDO) in order to reach strangers’ inboxes. Basically, if you become a BitBounce user, you will have an inbox full of emails from people you know, and other emails that you are paid in Credo to receive — similar to Earn.com, a startup recently acquired by Coinbase.
BitBounce raised over $12 million in their September ICO last year and is one of the rare ICOs with a functional, tangible product. The company has heavy ties to Tim Draper, who reportedly purchased 10% of all tokens in the ICO and has made multiple investments in the company.
CEO Stewart Dennis says that BitBounce worked to list Credo on other exchanges, but they had a negative experience with many of those exchanges, from poor customer service to astronomically high listing fees. He tells bittmint, “Rather than spend $500,000 or more to list our token on a third-party exchange, we decided those resources could be better spent building and marketing our own.”
Dennis claims that CredoEx will provide more reliable services than other exchanges and will, of course, integrate seamlessly with BitBounce. CredoEx will begin by exchanging Credo with Ether, but other currencies will be added in the future following demand.