EE, October 11, 2016 at 13:57 BST
October 11, 2016 a well-established cryptocurrency exchange, HitBTC, publicly increases support for EUR and USD depositing. From now on, all new registered users can easily pass the verification process, deposit fiats on their accounts, and proceed to cryptocurrency trading.
While there's a number of cryptocurrencies, paired directly with USD or EUR, including most popular Bitcoin, Litecoin, and Ethereum, a whole set of more peculiar digital currencies can also be traded. Altogether, the exchange provides more than 20 trading markets, continuously listing new, promising digital assets.
By enhancing support for fiat currencies, HitBTC is aiming to attract professionals, engaged with conventional types of trading, like stock markets, forex trading, commodities, etc. Here are the words of Paul Clarkson, product manager at HitBTC: "After three years of hard work, we're finally ready to bring mainstream traders to cryptocurrencies, and vice versa. Сryptocurrency trading is a young, sharp, and fluctuating, yet quite established field. Like any other markets, cryptocurrencies are influenced by a plenty of factors, and follow certain patterns that can be analyzed and used professionally for making profit. Therefore, we're making steps towards traders, so that they can capitalize their knowledge in a relatively new, promising niche."
Despite the fact that blockchain technologies and assets arise and gain traction on an annoyingly regular basis, digital currencies still haven't crossed the gap between the tech-savvy community that plays around with blockchain technologies, and the real business world that needs cryptocurrencies to fulfill its specific needs. This is especially the case in sphere of trading, where most exchanges prefer to remain a niche playground for cyberpunk enthusiasts, rather than build a solid trading platform, which requires investments, legalization, and support for traditional financial instruments.
Conversely, HitBTC aims to reach the mainstream financial market, by growing into a gateway between cryptocurrencies and traditional finance. The most important components of this process are:
● Transparency. HitBTC is a registered trademark, owned and operated by Beta Business Solutions Inc. The exchange platform and business providing tools are leased under a platform as a service (PaaS) model.
● Due diligence. HitBTC implements KYC to identify and verify its clients. KYC allows to build bridges between virtual currencies and real fiat trading. Every registered user can verify their account to start depositing EUR/USD, and trade virtual coins for traditional currencies.
● Dependable API. The API provides the most functional access to HitBTC facilities. It gives access to the market data, allows performing trading operations, provides funds management, and more. The API is robot-friendly and can be used for algorithmic trading.
● Support for the FIX protocol. Unlike any other crypto exchange, HitBTC provides support for the Financial Information eXchange protocol. While FIX is a de-facto standard for trade communication in the global equity market, it hasn't been implemented for cryptocurrency trading before now.
● Special offers for market makers. HitBTC provides special contracts for both individual market makers, and companies that know how to rule the markets. Market making is also possible through the HitBTC's APIs.
● Advanced reporting. The exchange team is focused on creating useful trading tools, hence, all traditional reports like profit and loss report and trade analysis are featured on HitBTC, and can be used by every user.
Paul Clarkson continues, "Besides having a professional team of developers, we have a well-organized team of financiers, and outsourced trading experts. The massive financial expertise allows us to make our product mature for penetrating the traditional financial market. As for development, we are especially proud of our support for FIX, which is unprecedented for bitcoin exchanges."
As HitBTC is already finished with core development, it is now ready to engage newcomers with 0% depositing fees that can be requested by all new verified users from October 6 to October 20, 2016.
About HitBTC
HitBTC is one of the leading cryptocurrency exchanges, providing trading services for individual traders since 2013. The HitBTC trading platform is known for its advanced matching engine, multi-currency support and friendly customer service. Besides trading between cryptocurrencies, HitBTC provides proper markets for exchanging cryptocurrencies for fiat currencies, namely USD and EUR.
The innovative and technological nature of HitBTC is expressed in a stable dependable API, which satisfies the needs of algorithmic traders. Moreover, HitBTC provides support for FIX protocol through FIX trading and FIX Market data end-points.
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