New Bitcoin Exchange Service is Going to Predetermine the Distribution of Forces
The current exchange service segment of the Bitcoin market is leaded by three main players.
The current exchange service segment of the Bitcoin market is leaded by three main players. The current balance does not seem to be very sophisticated and does not offer enough choice and diversification, as the biggest contributors rule out almost all deals, especially those transactions that are initiated by big business and investment companies in the crypto currency environment. The reliability and long-term presence on the market attract regular, private users of the virtual coin as well. However, the experts see that development and progress can successfully continue, when more operators would enter the branch and offer natural advantageous conditions to stimulate the growth and even stabilize the system globally. The new exchange service might become one of the main contributors to this idea in the closest future – hitbtc has suddenly come, but plans to stay for a long time.
The turnover of the coins of the TOP-3 exchangers is not a secret (because of the basic principles on the virtual currency and the information shared with BlockChain and other statistical sources). Mt.Gox volume was equal to 303,959 (during the last 30 days as on 27.01.2014. 11:47 CET, fiat currency – US Dollars), Bitstamp out powered it with 408,781 (30 days), but BTC-E was just some points behind with the traded amount of BTC 403,913 (30 days). The numbers have dropped by half since the middle of December, but the balance between the platforms has not changed. The key features of the new exchange might allow reaching the same numbers in a very short time period.
The press release exclusively offered to our online magazine by the developers, who would like to remain unknown till the launch of the service, state that hitbtc will provide all necessary functions and options that both experienced professional traders and beginners value on the existing platforms. The user-friendly interface will be appreciated by both parties – optimized and efficient routine of registration, use and withdrawal of funds is a key factor of success.
One of the developers assures the future users:
“The service will be equipped with a very comfortable terminal, produced taking in account the positive and negative aspects of the existing trading terminals”.
The service also offers a websocket newsletter on prices and trades, the same websockets with an asynchrony trading interface, FOK and IOC submissions for advanced users.
“The solution was developed on modern exchange services, the technical implementation will provide low latency and high performance from the launching day”, continues the development group. The presence of lags and other experienced faults was researched and fully excluded.
Summing up all advanced features we receive the following profile:
- a websocket subscription for quotes and trades;
- asynchronous websocket-based trading API;
- FOK and IOC orders;
- user-friendly interface created in collaboration with professional experienced traders.
The trade is going to be open for three pairs – BTC/USD, BTC/EUR, USD/EUR. The minimal step of price is 0,01, the minimal lot – 0,01 BTC. The platform states that “Non-Marketable orders will be rewarded a 0.1% rebate on execution”. But the “orders executed immediately will incur a 0.1% transaction fee”. Long-time customers with big volumes will be offered special conditions, as every user will be precious and important to the company. The input of fiat currencies will require no fees to be paid independent from the chosen currency, the withdrawal will cost 30$/E flat rate. However, the withdrawal of Bitcoin will also be for free. The process of input and output of funds will be automatic, instant, safe and reliable. The administration will pick out a corresponding bank building upon the account of the customer.
The company has developed a policy on the transfer limits. Two terms are going to be observed – daily and monthly volumes. All users will be divided in three categories – basic, verified and trusted. The highest level to obtain is partner, where the conditions are determined individually with the administration of the exchange service.
The developers are very proud to announce that “our service is obeying the rules of AML and KYC”. For transfers of relatively big volumes of coins identification with a passport or different ID document is obligatory.
The key factor that will definitely become the path to success of the service is safety of the customers, their money and wallets. The platform provides superior security features. It goes without saying that it includes a two-factor authorization, which is a de facto option of the standard in the Bitcoin environment.
More information about the service will definitely follow on our news platform, but now we offer our dearest readers to subscribe on the Twitter account of the @hitbtc exchange service or subscribe for the newsletter to stay in touch with the administration and be the first to receive a unique invitation to the beta-version.