BCH site Bitcoin.com has just launched its own digital asset trading platform, complete with bold promises to compete with established exchanges such as Coinbase and Binance.
The soft launch was never much of a secret, as shown by the 11,000 traders who pre-registered on the platform prior to launch, enticed by the negative 0.3% trading fees, which promise a rakeback on executions worth up to $1 million. That’s one of a clutch of promotional offers available to traders until December 2, as the exchange, which has been in the works for a year, seeks to make its bones.
Out of the gate, exchange.Bitcoin.com will offer digital currency trading options against four popular non-fiat base currencies: Bitcoin, Bitcoin Cash, Ether and Tether. Other coins available on the platform, meanwhile, include Litecoin, Tron, Ripple’s XRP, EOS, Stellar, Dash and Zcash are forecasted to be added according to the gushing press release dated September 1, which breathlessly touts a “world-class trading experience for crypto newcomers and veterans alike.”
Exchange.Bitcoin.com is a joint venture with BeQuant, the company behind such crypto exchanges as HitBTC. The layout of Bitcoin.com’s new trading platform bears more than a passing resemblance to HitBTC, with a simple but clean layout that also evokes Btc-e in places.
Controversial Bitcoin.com boss Roger Ver, who recently stepped down from his role as CEO to become executive chairman, remains determined to push Bitcoin Cash adoption any way he can. He is aided in this quest by hundreds of millions of dollars in wealth, mostly accrued through buying bitcoin in the early days. In addition to remaining a staunch evangelist for Bitcoin Cash, believing that crypto should be used as a medium of exchange rather than a store of value primarily, Ver is bitterly opposed to the US government, having renounced his American citizenship several years ago. His pro-privacy, anti-government stance is mirrored throughout Bitcoin.com, including its P2P BCH exchange local.Bitcoin.com and on the company’s new local.Bitcoin.com platform, both of which don’t enforce KYC.
By complementing its mobile bitcoin wallet and regular news coverage with a crypto exchange, St. Kitts-based Bitcoin.com is seeking to capitalize on its status as an all-in-one BCH-loving portal. While the ambition is certainly admirable, and the reference to high-end security features reassuring, it remains to be seen whether the company’s latest venture can differentiate itself from the industry heavyweights.