World’s Fourth Largest Crypto Exchange Huobi Appoints CEO for New US Platform
**TL;DR: Flyp.me is the only instant exchange with a profit sharing token. This combined with the fact that the competition is small and the team behind flyp.me has been operating in the cryptocurrency exchange market for several years, makes the FYP token the best investment for me.**
Although cryptographic currencies (in my opinion) _should_ not be considered primarily as capital goods, but as currencies, there are several ways to earn money with them.
## 4 ways to earn money with cryptographic currencies
The obvious way to make money with cryptographic currencies is to mine them. Mining means that you try to generate new coins using your computer. You will help to secure transactions and in return you will receive a reward in the form of new coins. The problem here is that the electricity costs for mining are very high, which for many people makes mining a loss of money.
While the first currencies (Bitcoin, Litecoin etc.) always operated with proof-of-work, i.e. the mining of new coins with computing power, there are now more and more currencies that use a different approach: proof-of-stake. Staking is nothing else than the interest on existing coins. So the more coins you have, the more coins you will earn through staking. The energy consumption for this is very low, which makes staking profitable even at high electricity costs. However, an investment is required for this. Some coins that are using proof-of-stake are: Gridcoin, Blackcoin, Peercoin.
The third way to earn money with coins is trading. One speculates on falling or rising prices of certain currencies and sells then with profit. Similar to the stock market.
### Profit sharing tokens
Profit sharing tokens are also similar to shares. And they give the one who holds the tokens a share of the profits. All you have to do is hold the tokens.
This is very interesting for several reasons:
* HODL and forget -> no time necessary after the one-time purchase
* The company, which offers a profit sharing token, has a real product, which increases the chances of profit
* No special software or equipment necessary
An interesting profit sharing token is **FYP**. FYP is the profit sharing token that belongs to the [instant exchange](https://flyp.me) flyp.me. Every three months (at a later date the payout window itself can be determined by the community ) 50% of the profit is distributed to all who own FYP tokens. The running costs are initially covered by the revenues of the ICO. This means that **50% of the turnover goes directly to all who own FYP tokens**.
Flyp.me is one of the first in two areas. It is one of the first profit sharing token and **flyp.me is the only instant exchange with a profit sharing token**.
## Other profit sharing tokens
Flyp.me is the only instant exchange with a profit sharing token, but there are other similar tokens.
* [Bankera:](Bankera.com) BNK is Bankera’s token. Bankera distributes 20% of its winnings to token holders. (https://blog.bankera.com/2018/01/12/bankera-qa-4/)
* [Kucoin:](https://www.kucoin.com/): Kucoin is also an exchange that distributes profit to token holders. Until March it was 50%. Afterwards, they can set the percentages freely, but it must be at least 15%. (https://www.reddit.com/r/kucoin/comments/7rxmsk/will_kucoin_dividends_stay_at_50_of_exchange/)
## Why the only instant exchange with a profit sharing token is a good investment
| | Mining | Staking | Trading | Profit sharing |
| Special hardware | X | | | |
| High electricity costs | X | | | |
| Large investment necessary | | X | | |
| Time consuming | X | | X | |
| Coins can be transfered freely | X | | X | X (Must be held only at payout day) |
If we take a close look at the table, it becomes evident that profit sharing is the easiest way to earn money.
This combined with the fact that Flyp.me operates in a market that has relatively little competition and is operated by a well-known team, makes ]the only instant exchange with a profit sharing token the best investment for me!
## Last payouts
The only exchange with a profit sharing token has so far paid two times 50% of its profit to the token holders. The first time even **100 % of the profit was paid** out!
### 1. Payout
| Date | Feb 19, 2018 |
| —————– | ————————- |
| Total amount | 33.919535575129769152 ETH |
| Amount per 1k FYP | 0.000973727784209857 ETH |
### 2. Payout
| Date | Apr 7, 2018 |
| —————– | ————————- |
| Total amount | 72,067390158495207706 ETH |
| Amount per 1k FYP | 0,002042878995 ETH |
The payout was done in ETH but the only instant exchange with a profit sharing token plans to allow payouts in different currencies. It is also expected that the payout will be much higher when the trading volume increases. In June the trading volume is already higher than in May and April combined.
![The only instant exchange with a profit sharing token](https://steemitimages.com/0x0/https://i.imgur.com/OOXbBVf.png)
Poloniex Exchange recently decided after 2+ years of doing business with them to require more information for my account, That is fine they have every right to ask for whatever they need ect. But don’t ignore me and steal my funds.
My account has been trading with them, small amounts, with a balance of 880$ USD for quite a while and never had a single issue and now all of a sudden my account is frozen out of the blue and I lost a bunch of trades that were set to auto buy back when the price dipped and they made sure to freeze my account at this point during a coin free fall before the buy back in what I can only imagine was there attempt to try to do the most damage to my trading account in hopes this would encourage me to jump on board and give them everything they wanted, but that will not be happening.
I received no messages or emails from Poloniex support prior to this happening. I have all there email domains white listed in my email, and I had not logged into the actual website for a while since all my trades were mostly on auto pilot setup using API keys through my trading software ect.
This type of customer relations is not only unheard of for any exchange I have used in the last 8 Years, but literally the same customer service I got from Mt.Gox right before they went under, so I felt the need to share. If they want to demand information and freeze my account this is fine but do not try to steal my funds when I ask to have my account closed. After these recent events and tactics witnessed I no longer trust them and will not be continuing with there exchange as a trading option, and I’m not sure how they think anyone would after being treated like this.
After deciding they were not professional enough to continue using and since I’m verified on Bitstamp, Bitfinex and a couple others already, who have never treated me this way, I informed them I would be closing my account instead and transferring my funds out asap. They acted like everything was fine and then locked me out of my already frozen account and have not responded to my support requests for over a month now. Yet they respond instantly to any other support requests and are clearly ignoring me now that I do not want to continue using there exchange.
This type of customer service and support for an account that is over 2 years old with them is appalling. I’m just glad I recently transferred the bulk of my account balances out prior to this happening.
I would highly recommend if you use [Poloniex.com](https://Poloniex.com) to be very weary of them as they do not care how long you have been with them when the time comes you decide to move on they will likely try to rob you also.
I have already taken other legal steps at this point in time, and am posting this for the purpose of making sure other have a fare warning of my experience. I will attach my support ticket conversation that has been a single reply from support and now 30+ Days of being ignored, without even an update to say there still working on it or if my case was passed to appropriate department as they claimed.
Steer clear of these guys and be careful!!