• Fri, 06 Dec 2019, 04:00 AM
  • All times are UTC
  • Edition:
Copy link
Increase text size
Decrease text size
Link copied

Bitcoin wallet provider Blockchain unveils cryptocurrency exchange ‘The PIT’

The PIT Homepage Screenshot (TokenPost)

Tue, 30 Jul 2019, 12:08 pm UTC

Blockchain, a leading provider of bitcoin wallet and blockchain explorer, has announced the launch of its first cryptocurrency exchange platform.

The company has officially unveiled The PIT, which it claims to be the fastest cryptocurrency exchange in the world.

In an online post detailing the new platform, Blockchain noted that existing blockchain platforms are plagued with a number of shortcomings – unreliability, illiquidity, and unfair mechanisms.

“They encourage users to keep their crypto deposited, rather than safely secured in their own private keys,” it said. “On top of all this they are overly complex: getting the full feature set often requires accounts at multiple venues – one with plenty of asset selection, one with decent fiat support, and perhaps one with leverage.”

With The PIT, Blockchain aims to address these issues and offer a platform that would “redefine speed, reliability, and liquidity for each and every crypto believer around the world.”

“We’ve now created the world’s fastest crypto exchange, clocking in at 40 microseconds per trade, capable of executing millions of orders per second. Connect your Blockchain Wallet directly and The PIT allows instant trading access and rapid transfer back to your secure storage,” it added.

The exchange, currently in beta, will allow trading in up to 26 assets over the next two weeks, CoinDesk reported. Blockchain’s head of retail products Nicole Sherrod told the news outlet:

“Beyond the 26 [assets] we already know what our phase two asset listings are going to be, as well as phase three.”

While it remains to be seen how well The PIT is positioned to compete with other well-established exchanges such as Coinbase and Binance, Sherrod said that they are looking to compete on the overall client experience.

A company spokesperson said that the exchange would not operate in jurisdictions requiring a license. Sherrod, however, said that Blockchain is already in the process of applying for new licenses in various jurisdictions.

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
  • Bitcoin (BTC) $7,441.78 (+2.56%)
  • Ethereum (ETH) $148.87 (+2.06%)
  • XRP (XRP) $0.224600 (+0.84%)
  • Bitcoin Cash (BCH) $213.61 (+2.58%)
  • Litecoin (LTC) $45.22 (+1.30%)
  • Bitcoin (BTC) $7,441.78 (+2.56%)
Dec 6, 2019 (Friday)
Canadian mining firm goes belly up; Owes local, federal government hundreds of thousands
New crypto derivatives trading platform Phemex can manage 300,000 TPS, says core developer
Microsoft creates blockchain-based incentive scheme with Enjin to recognize active members of Azure community
Dec 5, 2019 (Thursday)
Dunamu’s crypto subsidiary DXM partners with Ledger to launch custody service for institutional clients
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
Crypto Technicals: Major Cryptocurrency Daily Technical Outlook
Crypto Technicals: LTC/USD pauses downside, bullish RSI divergence raises scope for upside
U.S. financial regulators call for continued monitoring of digital assets and DLTs
Crypto Technicals: IOT/USD retraces above 0.20 handle; recovery lacks traction
Samsung Blockchain Keystore to be soon available in six more European countries, says TRON CEO Justin Sun
KT and China Mobile team up to commercialize blockchain-based roaming charge system
Crypto Technicals: XRP/USD capped below 5-DMA, on track to test trendline support at 0.1995
France to launch CBDC trial by end of Q1 2020
Crypto Technicals: BTC/USD finds selling pressure at highs, bias remains bearish as long as 21-EMA resistance holds
OneConnect seeks to raise $500M for its upcoming IPO amidst global expansion of parent company Ping An
China’s Hainan announces new measures, $142M fund to support blockchain industry
Sean Neville to step down as Circle co-CEO
Bakkt CEO Kelly Loeffler appointed as U.S. senator by Georgia governor Brian Kemp
Gemini burns GUSD bringing total supply to 4.1 million
Crypto Technicals: ETH/USD recovery capped at 200H MA, break below 78.6% Fib (141.35) to knock prices lower
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.