Fintech company BUX has announced the launch of BUX Crypto, the enterprise’s official cryptocurrency trading exchange.
BUX Is Growing to Include Its Own Exchange
Crypto trading has become something of a staple during these last few weeks due to growing fear caused by the coronavirus pandemic. Many investors, it now seems, are looking to purchase crypto and give digital assets a try as fiat currencies and stocks prove less stable during these hard, economic times.
This is the exact opposite of where most investors appeared to stand in mid-March. During that time, the cryptocurrency industry suffered a few major blows as bitcoin, along with virtually every other major crypto asset, underwent a massive selloff that caused them to lose hefty amounts of volume in relatively short periods.
Bitcoin, for example, fell from about $10,350 in mid-February down to the high $3,000 range on or around March 12, and while it has recovered somewhat since that date – adding about $3,000 to its price – there is still a lot of room for improvement.
Now, with the crypto craze driving everyone mad, companies are looking to get in on the action. BUX Crypto says that it is offering users the chance to buy, sell and trade some of the world’s top digital tokens, which in this case include bitcoin, Ethereum (ETH), Litecoin (LTC), Ripple (XRP) and bitcoin cash (BCH). In addition, the exchange is also offering up its own coin known as BUX Token (BUX).
Users can initially purchase any of these currencies with euros as a means of reducing exchange rate fees. The company has also announced a special promotion in which the first 5,000 customers to sign up for and engage in the company’s new trading services can potentially earn free BUX Tokens.
Nick Bortot – CEO and founder of the enterprise – explained in an interview:
Since launching BUX in 2014, we have been developing apps that fit the needs of a new generation of investors. Part of our current offering allows users to invest in shares at zero-commission in an elegant, intuitive interface. We see BUX Crypto as a natural extension of our current lineup, which is focused on offering products that make it simple and affordable for even the newest investor to get into the financial markets.
Everyone Can Learn From Each Other
BUX also announced that it will be integrating “social trading capabilities” as it undergoes an acquisition of Blockport, an altcoin on the Ethereum network. Sebastiaan Lichter – BUX Crypto’s head of product – states:
Following the official launch, BUX Crypto will be focusing its product development strategy on creating social-driven investing features. As a company that values its community, the product roadmap will focus heavily on building unique features that can bring both beginners and advanced investors together to learn from each other.
The post BUX Steps Into the Crypto Industry; Announces Its Own Exchange appeared first on Live Bitcoin News.
Source: Live Bitcoin News