The first crypto-currency exchange to accept bitcoin for trading
Posted On July 10, 2021
Posted November 13, 2018 08:24:50Today, the first crypto exchange to allow bitcoin for trade will begin trading on its website, with the aim of opening the crypto-community to the digital currency.
At CoinMarketCap, which currently has about 500,000 customers, CEO Josh Garza says the exchange will be a place for people to trade and buy and sell bitcoin, and it will be run by a team of technologists, engineers, and investors.
The company is working on a decentralized exchange, but it isn’t yet clear how this will work, or if there will be any fees associated with buying or selling.
“We’re trying to make it as transparent as possible,” Garza said.
“This is something that’s never been done before, and that’s why we’re putting a lot of time and resources into it.”
CoinMarketCap currently has more than 500,0000 users, and its founder, Mike Hearn, is a prominent figure in the cryptocurrency world.
He has also invested heavily in Bitcoin Cash, a cryptocurrency which is backed by the Ethereum blockchain, but which is currently in its early stages.
Garza told Crypto Coins that he hopes the exchange can be useful for people who want to get into crypto, but aren’t yet comfortable trading for cash.
“I think it’ll be great for the people who are just looking to get in, and they’re interested in learning how it works,” he said.
Bitcoin Cash, which has been supported by Blockstream, a blockchain startup, is currently trading at a discount of around $3 per coin, compared to $15 for bitcoin.
However, Hearn believes that this discount is temporary, as the exchange’s technology will eventually become viable for regular consumers.
“The reason we’re doing it now is because of the way it’s built,” he explained.
“If we have a lot more people joining the network, it’s a huge opportunity to get more people into the market.”
CoinmarketCap currently lists bitcoin trading as a “high priority” and has plans to offer a range of other digital assets such as Ether and Ethereum Classic.