A single point of failure is a sure way to test Murphy’s Law (can go wrong, will go wrong), and when dealing with a massive store of wealth, in bitcoins or otherwise, this is not a law you want to prove.
Ever since the failure of Mt. Gox and the subsequent centralized Bitcoin exchanges which have been hacked, proved insolvent, have been the object of exit scams, or buckled under the weight of obvious manipulation, there has been clamor toward a decentralized exchange. There exists technology on which this can be done, escrow services and multi-signature addresses, but these methods, by themselves, add even more complexity to Bitcoin trading than already there. Thus the question has been – can we have a decentralized experience that doesn’t feel like one? A decentralized exchange that works as flawlessly as the centralized counterparts (until they are robbed blind by their owners or hackers)?
Coinffeine has created a platform that does not want to hold your bitcoins. Instead, you use the Coinffeine desktop wallet and trade directly from it. It integrates the functionality of exchanging bitcoins and allows for the use of local payment rails. It varies