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Knowledge BaseBrowse commonly asked questions and get the answers you need.
The CoinLock MatchEngine is an online Marketplace where individuals can access many different cryptocurrency services that make coins more useful. Invidividuals can also use the MatchEngine to enter Protect and Turbo Trading positions.
A Turbo Position on the CoinLock MatchEngine also termed as Leverage, allows you to profit when the value of a cryptocurrency goes higher. You match up with capital from another user, and you will reap 400% of all the rewards or suffer from 400% of any losses of the combined positions.
A Protect Position on the CoinLock MatchEngine is an amount of cryptocurrency whose exact amount is stabilized regardless of market fluctuations. You enter it if you'd like to protect your cryptocurrency from any price drops, without having to sell your coins. Once stabilized, you can now send exact amounts for payments.
The CoinLock MatchEngine connects Turbo Traders and Protect Traders together to provide benefits to each. Turbo Traders ensure that the value of the Protect Position stays the same up to the amount of money entered into the position by the Turbo Trader. Protect users provide the Turbo Traders with the extra money to obtain increased buying power when it's believed that a certain cryptocurrency will rise in value.
There are no extra fees on the Turbo Trader's capital. However, 20% of any profit from the Turbo Position's matched capital is automatically invested into the LOCK coin. An investor can then choose to hold onto this investment or sell it.
LOCK is the native cryptocurrency used by the CoinLock platform. LOCK is used to pay and distribute fees user-to-user from successful trades. LOCK can also be bought and sold only on the MatchEngine.
The LOCK price is based upon the platform's trading activity and its own supply. LOCK is purchased on the MatchEngine as traders close successful trades. LOCK price tiers are set in predetermined increments. You can see the real-time price on the website at CoinLock.com.
The Marketplace is an order book where anyone can buy or sell price-protected cryptocurrency from other community members with no fees or commissions charged by CoinLock. We call these Protected Crypto Containers. This unique feature allows participants to enter or exit crypocurrencies easily and without costs. It's part of our pledge to try to make most of our cryptocurrency services fee-free. Please note that CoinLock has no control over fees charged by third-party payment services providers that participants may choose to use to transfer and receive related funds.