The new trading platform will provide support for 50 digital assets. To increase trading volume and attract traders, the exchange offers a month with zero commissions.
Previously, representatives of Coinbit assured that the exchange would open on April 30, but the developers did not meet the deadline and the opening was postponed. As an apology for the delay in the launch of the platform and a surprise for the opening, Coinbit is offering free trading during its first month of operation.
Thereafter, the commission will be 0.05%. So far, the details of the trading features on the site are unknown, but most of the information on the exchange resource is presented in Korean, which may hinder the influx of Western investors.
The first round of Coinbit listing will feature Bitcoin (BTC), Bitcoin Cash (BCH), Litecoin (LTC), ARDR, NXT, as well as Ripple (XRP) and Ethereum (ETH) along with Ethereum Classic (ETC).
In total, 50 digital assets will be available on the company’s website; in addition to traditional ones, there are still little-known coins. These are Kin, Dentacoin, VeChain, Ardor, Kyber Network, FunFair, aelf and others. Almost all of the listed altcoins showed growth on the eve of the start of the crypto exchange.
The Asian market in general and South Korea in particular are a fairly important region on the map of the cryptocurrency world. The share of transactions for the Bitcoin-Korean won pair ranks fourth in the total transaction volume, exceeding 7.3%.
Asia is one of the places where blockchain technologies have spread the most and are already used everywhere. There are quite a few cryptocurrency exchanges that have been created to operate in this region. The leadership in the Korean trading market is now held by Bithumb. The exchange covers 75% of the South Korean cryptocurrency trading market. Available for purchase only in South Korean won. Thanks to the listing of several fairly important coins, KuCoin has significantly increased its daily trading volumes. In April, trading on the Huobi Pro cryptocurrency exchange opened in South Korea.
Since the beginning of this year South Korean regulators have introduced a ban on anonymous trading and even considered the option of a complete ban on digital money. Today, such information has been refuted, and government representatives have stated that they plan to develop the industry to improve the digital financial system and make it more secure.
Of course, the new exchange will not cause a serious surge in prices for cryptocurrencies, but the step itself deserves attention.. It is good for those who are just starting to experiment with cryptocurrency trading and are not interested in spending significant amounts of money, including in the form of transaction fees.
In general, attracting new players to the market is rather a positive thing that will contribute to the further development and acceptance of cryptocurrencies.
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