Bitstamp Will Add Ethereum Trading on August 17

0

One of bitcoin’s biggest exchange, Bitstamp, currently handling nearly $45 million in 24 hours trading volumes, will list ethereum for trading on August 17th trustnodes is told.

“We continue to add new trading pairs including Ethereum, which will be available for trading with USD, EUR and BTC starting August 17. Bistamp will also be offering deep discounts on Ethereum trading for customers through the end of the year,” Nejc Kodrič, Bitstamp’s CEO and co-founder, said.

They are also streamlining their fees following a partnership with Swissquote, an online bank, which now offers their customers the ability to trade bitcoin on their platform.

“By rolling out our new unified pricing model, we go from nine different fee schedules (one for every single trading pair) down to one. This pricing model is not only cost effective, but it simplifies the trading process for customers,” Kodrič said.

Bitstamp is one of Europe’s main regulated exchange. Rising to prominence around March 2013, after MT Gox faced numerous trading problems, they have managed to navigate all the early regulatory and security uncertainties, seemingly earning the trust of a Swiss bank.

But they have been slower than others in many aspects, including adding ethereum, a currency that handled some $2.5 billion in trading volumes during the past 24 hours, nearly $1 billion higher than even bitcoin.

The reason may be because regulators move slowly in approving new features, such as adding trading pairs or providing margins, with the process sometimes taking months.

“A series of technical, safety and regulatory requirements need to be met,” Kodrič says, which necessarily takes time.

On margins, Bitstamp is already testing the service in a closed beta with few select customers. “Currently open to a handful of our customers, we will be gradually opening up access to everyone in the months ahead,” they said back in May, with Kodrič stating during that announcement:

“Things are changing rapidly and we now have the fundamentals in place to give our traders all the services they’re used to, but in a safe and secure environment.”

It’s a turn around of sorts for one of the oldest exchange in this space. Their regulated status makes them stand out and might provide an alternative to Coinbase.

While the addition of margins might finally provide an alternative to the much troubled Bitfinex, as well as competition to Kraken, which some traders complain has a somewhat laggy interface.

However, trading choices still remain limited overall for what is now a $120 billion market. It is much better than 2013, but regulated exchanges remain few and far between.

While options for margin trading are limited even in unregulated exchanges, let alone those licensed, with futures trading mainly concentrated in just BitMEX, an unregulated platform.

This space therefore still has some way to go in providing a highly professional environment with reasonable margins, futures, and options trading. But matters appear to be moving in the right direction and we may soon have a secure platform for regulated margin trading as the space continues to mature.

 

Comment

100000
  Subscribe  
Notify of