admin Posted on 4:11 am

Crypto-Focused Social Media Platform Attempts to Tackle Impersonators

Have you ever heard of a crypto-based social media platform that is just available to crypto firms and individuals? Floyx is one such social media platform which is run in Malta. Just like every other social media platform, Floyx has been targeted by impersonators. The company is finding ways to prevent impersonation scams.

The CEO of Floyx, Kamil Kępiński said that he along with his teammates is creating a system that can prevent scammers to act as an official business and scam people. The novel account system can save the Floyx users from getting scammed.

What Is Impersonation?

When scammers try to deceit people by creating a fake account of a renowned company or a celebrity and thereby looting their crypto assets, it is called impersonation. Even Elon Musk, billionaire businessman was surprised to see an Ethereum Scambot page.

How Floyx Is Preventing These Scams?

The crypto-centric social media platform has accounts related to cryptocurrency forums, businesses, and individuals. The platform has a verification formality to get started. Every type of account has its features.

If someone registers as an individual account, that account will be immediately visible. On the other hand, if a crypto startup or organization signs up on the platform it requires verification before the profile goes live. The company or organization account can properly use the platform only after the verification process.

How To Get A Verified On Floyx As A Business?

The CEO of the crypto social media platform confirmed that there are many ways to get verified on Floyx. First one is to message the official Floyx account on twitter by the company account.

The other method is to provide the legal status of the company. The business can submit documents related to participation in a project. The process can be different for personal accounts, for example, celebrities and public figure.

The platform temporarily bans or permanently blocks a profile if it seems suspicious. In addition to it, there is also an option to link a personal account to a project or company to check the legitimacy of an account.

Kępiński made it clear that the team itself verifies every business account on the platform. There are no discrepancies in the verification process at any step. It may take 24 hours for a profile to get verified but often it is instant. There’s another requirement to register as a business on the platform to have a crypto asset listed on at least a single crypto exchange.

Facebook Of The Crypto World

The features on Floyx works exactly like Facebook, Reddit, Twitter and other blogging platforms. It also has a dedicated mobile app like other social media platforms. The makers of the platform are also planning to set up a trading platform within the Floyx.

This internal trading system will help the users to trade within their own social media platform. There will also be a reward system for active users. That according to Kępiński will make it a different kind of platform.

The firm has been discussing with its potential partners on whether the Floyx’ integrated crypto exchange will be centralized or not. Kępiński and his Floyx team also have plans to create a traders account that has no option to delete the old posts. This is intriguing enough.

The strategies of trader will be closely analyzed and his profile will have the information about the assets he trades. It will also be visible whether he trades in the long term or short-term exchanges.

Kępiński mentioned that if this system will be appreciated by the users, the firm will develop an auto-follow system. This system will allow the users to automatically follow the trading strategy of another trader.

All of these strategies and upcoming exciting features seems to have the potential to make Floyx one of a kind social media platform for the crypto world. The account verification system is being followed by many renowned crypto companies lately. One such example is DASH, a payments-focused cryptocurrency.

If the new features and other advancements to be believed on-site trading system for instance. Floyx will soon stop any fraudulent activities on its platform. Not to mention, the most sought-after crypto companies will have their official profiles on the crypto social media platform.