Roger Ver, the Chief Executive Officer of Bitcoin.com, stated that the digital-coin wallet provider Bitcoin.com have plans to buy or develop its own exchange.
Roger Ver is one of the very early investors in Bitcoin and switched allegiance to Bitcoin Cash last year. In a recent interview in Malta, he says the Bitcoin.com is considering finding a partner to create an exchange or may create one internally.
“If we build it ourselves, we can do it really, really cheap, and we get exactly what we want,” he said of the firm’s early-stage plans. “But we don’t have the security of a battle-tested exchange that’s been around for a while.”
Ver is expecting to use the traffic that is already running on the site for the exchange and is, therefore, thinking about creating it on the same site. Ver says that the plans for an exchange are still in early stages and has not decided whether they will create one themselves or acquire a platform. He also aims to increase adoption for Bitcoin Cash, which has not become as popular as its rival Bitcoin. Rumour has it that Bitcoin Cash may be facing its own split later this year. However, Bitcoin Cash would be the base-currency for the new exchange.
Bitcoin Cash is, however, growing in popularity and the first FCA-regulated futures for Bitcoin Cash was launched earlier this year in the UK. The Bitcoin Cash/US Dollar futures enables investors to take long and short positions in the cryptocurrency which allows them to broaden the opportunities since the market is very volatile, and therefore hedge their risk more effectively.
Bitcoin.com is currently operating mining pools for BTC as well as BCH, news and are operating a wallet with over 3 million created according to the website. Ver mentioned that hosting the exchange on the website would create instant liquidity due to the current popularity. Using Bitcoin Cash as a base currency could, however, affect the usage of the platform, given the rate the cryptocurrency has among other exchanges.
By looking at Coinmarketcap, CoinEx is the only major exchange that offers liquid markets in Bitcoin Cash; however, as an exchange that operates on a transaction fee mining model, its volumes are not seen as reliable signals about trader interest for particular markets or trading pairs. Bitcoin Cash is at the time of writing valued at 509 dollars per coin and is ranked as number four regarding market capitalization.
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Dennis Sahlström has been trading and investing since 2012 and has for the last two years been consistently profitable. He has been in the crypto- and blockchain space since the middle of 2017 and realized its potential for our world, not least how it is transforming the society we live in. He has now created an education platform, together with the wealth coach Marcus the Maria. They teach regular people how to invest and trade in the cryptocurrency market with proven strategies. If you want to learn more and feel like its time to get into this new asset class, download our free book and register to the next live training to get your future in cryptocurrencies started.