This year, the cryptocurrency exchanges landscape has matured significantly. Not only the number of exchanges have multiplied, but the quality and diversity of exchanges have also progressed, offering people an unprecedented number of venues to choose from.
With the growth of Coinbase, Binance and the glut of other platforms that have followed since, enterprising newcomers, have begun to introduce innovative features to differentiate themselves in key benchmarks.
Bitcoin.com, the leading crypto community that promotes news and lots of other information on Bitcoin and Bitcoin Cash, unveils its new cryptocurrency exchange to the world. Launched today, the new Bitcoin exchange, addressed exchange.bitcoin.com, is offering a wide variety of promotional offers to attract traders to its platform. For three months from today, users who pre-registered are offered a 25% discount on all trading fees. With every transaction executed on the platform, the users also stand a chance to win over $10,000 in prizes. In addition, the pre-registered accounts have also been rewarded with “negative 0.3 percent trading fees” on every transaction for the upcoming three months. This implies that, unlike other exchanges, every time traders execute a transaction on the new Bitcoin.com exchange, they’ll earn a certain percentage as an incentive.
Roger Ver aka “Bitcoin Jesus”, the man behind Bitcoin.com who later shifted to supporting Bitcoin Cash, has been subjected to strong criticism by the crypto community right before the launch of his new exchange. On Twitter, thousands of crypto enthusiasts and advocates expressed their lack of trust in this new exchange on Bitcoin.com. Some are even accusing Ver of scamming people and exploiting the influence of the platform to wash trade BCH.
In a tweet, the controversial Twitter account, @Bitcoin, compared Ver’s new exchange with MtGox—a failed Bitcoin exchange from Japan that declared bankruptcy in 2014. MtGox, which also at one point used to be the world’s largest crypto exchange, later was accused of a theft involving around 850,000 Bitcoins being stolen from its wallet.
However, Danish Chaudhry, MD of the new exchange seems to be hopeful about competing against the more established exchanges, like Coinbase and Binance. He said,
Crypto is all about accessibility to the financial system. And, Bitcoin.com is one of the most trusted brands in the industry. We’ve had a great reception from the community already with over 11,000 pre-registers. We’re on a mission to make crypto usable for all.
The Bitcoin.com exchange, as Chaudhry explains, will also offer robust security features, cold-storage options, institutional-grade encryption, as well as two-factor authentication.
Having evolved from another news website, Bitcoin.com launched its mobile wallet for BTC and BCH in August 2017, which claims to have had over 2 million downloads. In June of this year, the company launched its first peer-to-peer trading platform for BCH.