On Monday, People’s Bank of China (PBOC) affiliated publication Financial News reported that financial regulators in the mainland are working on “a list of measures” against cryptocurrency trading. The measures include “dealing with domestic and international websites,” the reported stated, according to the South China Morning Post. The central bank-linked publication said the decision “to remove any onshore or offshore platforms related to virtual currency trading or ICOs [initial coin offerings]” was made “to prevent financial risks.”
In an announcement today, the Tokyo-based chat app confirmed that it has filed an application with the Financial Services Agency (FSA) – Japan’s financial regulator – to register and launch a cryptocurrency exchange. The application is currently under review.
It’s a significant move, one which sees Japan’s biggest messaging service announcing its foray into cryptocurrency trading, to be enabled within its chat application that is ubiquitous among some 70 million Japanese users. The messaging app is also massively popular in other regional nations including Indonesia, Thailand and Taiwan.
Coinbase is a digital asset exchange company, with is based in San Francisco, California. It allows the customers to exchange Bitcoin, Ethereum, and Litecoin, just to name a few. In total, you can exchange fiat currencies in 32 countries, and Bitcoin transactions and storage in 190 countries worldwide.
Coinbase have very publicly stated their plans to add cryptocurrency plans, as soon as banking arrangements in other jurisdictions are secured. Despite this, Coinbase have rapidly increased its trading volume, now providing decent liquidity on low spreads, thanks to the seamless integration of wallet and exchange features.
They have added a suite of apps, which are compatible with most mobile devices, which is boosting their reputation, leading them to be one of the best in the industry. They have worked hard to develop a great and easy to use interface, which is top of the range.
Coinbase operate great security practices, as well as insurance in all deposits. They have also raised over 100million USD in funding, which has provided them with a solid capital foundation. They keep over 97% of their funds kept offline in cold storage USB’s, or paper wallets, and they have a two-factor authentication on all of their accounts as well, as well as procedures such as SQL injection filters that have been designed to halt heart bleed bug attacks.
Year Launched: 2012
The BitSquare Exchange is unlike other, more traditional exchanges thanks to the unique features that it has.
The open source desktop application allows you to buy and sell Bitcoins, which you can then exchange for other cryptocurrencies, or alternatively, for traditional national currencies. The things that really make this exchange stand out from others is that it has been designed to be instantly accessible, which means that there is no need for registration or approval from a central authority. Because the system is decentralised, peer to peer trading can’t be censored or stopped. It has been designed to be very easy to use, and because it is an open network, it means that the code is completely transparent and open.
BitSquare takes security very seriously though, and is incredibly safe. The decentralised arbitration system and security deposits protects traders, and the exchange will never hold your funds, ensuring that your transactions are incredibly secure. Every transaction that you carry out is private, which means that no one, except trading partners will exchange personally identifying data.
Year Launched: 2014
Gatecoin exchange focuses on security, reliability and cost-effective transfers. It is a regulated digital currency exchange, that is also capable of provided other related services, such as prepaid debit cards, as well as merchant and remittance solutions. It is one of the first exchanges to launch Ethereum markets.
The exchange was started in 2013 and has been designed for both professional traders and retail investors. The Bitcoin and Ethereum exchange enables individuals and institutions around the world to trade a variety of cryptocurrencies and blockchain assets.
The exchange is incredibly easy to use, but the exchange has a dedicated support team should you require extra help. The smart and mobile-optimised interface allows you to trade using your tablet or smart phone. Their platform is constantly improving to ensure that it is the best it possibly can be. Finally, like all good exchanges, it is decentralised, modular, scalable and secure, using bank-grade security features to ensure the security of your account.
Year Launched: 2013