CoinLock, a peer to peer cryptocurrency risk-sharing platform, has launched a cryptocurrency trading and payments platform.

The platform has been launched after two years of development and testing.

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It is designed to deliver increased utility of cryptocurrency by offering transformational value-added services.

CoinLock CEO Rikky Hasan said: “Through exhaustive market analysis, CoinLock identified and alleviates three primary pain points for cryptocurrency consumers: lack of utility, volatility and crippling fees.

“And in order for cryptocurrency to become mainstream, it needs to be easy to use, fast, and free.”

Users of the platform can hedge and lock-in a fixed USD value on their coins, without having to pay any fees or sell their coins.

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This will enable users to escape the volatility of the markets and transform Bitcoin into a stable payment option, the company claims.

CoinLock customers will also get access to new and free leverage services.

Using the platform, traders can get 4x leverage without having to pay any interest or fees.

CoinLock co-founder and Goldbrook Capital chairman Ali Jassim said: “We are extremely excited about the launch of the CoinLock platform.

“CoinLock will revolutionize cryptocurrency by offering streamlined hedging and leverage opportunities at a fraction of the time and cost of its competitors.”

The platform will also facilitate customers to buy and sell Bitcoin for free.

Customers can sidestep exchanges and their fees by transacting directly, peer-to-peer.