Huge New Exchange in South Korea - In Partnership With Bittrex
Fore those of you who haven’t heard, a brand new exchange is opening in South Korea. This isn’t any normal new exchange, its going to be huge right off the bat.
The exchange is owned by KakaoStock. Kakaotalk is largest single most used messaging app (i.e 99.9% population use this) equivalent to wechat. Kakaotalk owns Kakaostock. Kakostock is solid stock trading platform. The cryptocurrency exchange name is “Upbit” and they have an exclusive partnership with Bittrex. We are not too sure how they will be working together yet.
A large majority Korean traders are stating that they will migrate to Upbit once it launches because:
- Current exchanges only offer less than 10 coins
- Hacking issues
- It seems its security is somehow linked to Bitgo (Altcoin Wallets) and Kakaopay (Authentication Service)
See the full tweet chain below:
1. Korea will finally have its own altcoin exchange with 111 coins listed. The exchange is owned by KakaoStock. Kakaotalk is largest/ single
— Crypto Korean 🇰🇷한국 (@crypto_korean) September 24, 2017
2. Most used messaging app (i.e 99.9% population use this) equivalent to wechat. Kakaotalk owns Kakaostock. Kakostock is solid stock trading
— Crypto Korean 🇰🇷한국 (@crypto_korean) September 24, 2017
3. Platform. The crypto exchange name is “Upbit” and they have exclusive partnership with Bittrex. Hence, majority of korean forums are
— Crypto Korean 🇰🇷한국 (@crypto_korean) September 24, 2017
4. Stating that they will migrate to Upbit once it launches as (1) current exchanges only offer less than 10 coins. (2) hacking issues (3)
— Crypto Korean 🇰🇷한국 (@crypto_korean) September 24, 2017
5. Current exchanges go down too often during critical periods of trade. Please see the comments i noted to Coinone CEO for full.
— Crypto Korean 🇰🇷한국 (@crypto_korean) September 24, 2017
6. See the full message trails here where i note issues with coinone and bithumb which all korean users complained/filed lawsuits pic.twitter.com/b1V2o192CJ
— Crypto Korean 🇰🇷한국 (@crypto_korean) September 24, 2017
7. https://t.co/jcRDO19Ion. It seems they also have decent trading app too. Korean community is very excited! #AltsAreBack
— Crypto Korean 🇰🇷한국 (@crypto_korean) September 24, 2017
8. China 🇨🇳it seems like you guys need to up your game 🙂
— Crypto Korean 🇰🇷한국 (@crypto_korean) September 24, 2017
This is great news because shows that South Korea has fallen in love with digital currencies, suddenly making an entrance after China intervened earlier this month.The news of this new exchange,Upbit, reached China over a week ago, far before anyone in the west heard about it, so the country might be taking some of China’s trading volumes.
Unlock The Ultimate Crypto Guide
Enter your email below to get instant access to The Ultimate Cryptocurrency Guide and learn how to trade like a pro.
Oh, and it's completely free!
3 Responses
[…] Source link […]
[…] Another exchange will also be opening in October that will include NEO too. This is just the beginning for NEO, and as more exchanges add it, the more volume will flow into it. […]
[…] Another exchange will also be opening in October that will include NEO too. This is just the beginning for NEO, and as more exchanges add it, the more volume will flow into it. […]