Skip to main content
https://www.highperformancecpmgate.com/rgeesizw1?key=a9d7b2ab045c91688419e8e18a006621

Blockchain (the company) launches an exchange (The Pit)

The company called Blockchain is mostly known for its cryptocurrency wallet. Today, the company is also launching an exchange so that you can buy and sell cryptocurrencies without going through a third-party exchange.

The company’s exchange is called The Pit and is focused on mainstream adoption and ease of use. It is available in 200 countries with support for a handful of cryptocurrencies and fiat currencies.

When it comes to depositing money in your account, The Pit currently supports USD, EUR and GBP via bank transfers. You can then buy and sell a handful of crypto assets — BTC, ETH, BCH, LTC, USDT and PAX.

Behind the scene, Nicole Sherrod has been heading the product for a year. She worked at TD Ameritrade and E*Trade in the past. And the company has opted for dedicated servers instead of a more traditional public cloud infrastructure, such as Amazon Web Services or Microsoft Azure.

The startup is waving trading fees for the first 30 days. After that, in addition to spread, you’ll pay 0.24% in taker fees if you trade less than $100,000 per month, and 0.14% in maker fees. Fees get lower after that threshold, but you should probably consider an OTC desk for large transactions.

That’s 0.01 percentage point lower than Coinbase Pro fees, 0.02 percentage point lower than Kraken fees if you trade less than $50,000 per month and on par with Kraken fees if you trade between $50,000-$100,000. Binance fees are lower, but I don’t think The Pit and Binance address the same market.

Integration with Blockchain wallets will foster adoption compared to other companies starting an exchange from scratch. Blockchain users have created 40 million wallet so far. And those users can connect to The Pit using their Blockchain account. The company has developed a new Blockchain Connect API for this feature.

Disclosure: I own small amounts of various cryptocurrencies.

Comments

Post a Comment

Popular posts from this blog

Uber co-founder Garrett Camp steps back from board director role

Uber co-founder Garrett Camp is relinquishing his role as a board director and switching to board observer — where he says he’ll focus on product strategy for the ride hailing giant. Camp made the announcement in a short Medium post in which he writes of his decade at Uber: “I’ve learned a lot, and realized that I’m most helpful when focused on product strategy & design, and this is where I’d like to focus going forward.” “I will continue to work with Dara [Khosrowshahi, Uber CEO] and the product and technology leadership teams to brainstorm new ideas, iterate on plans and designs, and continue to innovate at scale,” he adds. “We have a strong and diverse team in place, and I’m confident everyone will navigate well during these turbulent times.” The Canadian billionaire entrepreneur signs off by saying he’s looking forward to helping Uber “brainstorm the next big idea”. Camp hasn’t been short of ideas over his career in tech. He’s the co-founder of the web 2.0 recommendatio...
Post a Comment
Read more

Drone crash near kids leads Swiss Post and Matternet to suspend autonomous deliveries

A serious crash by a delivery drone in Switzerland have grounded the fleet and put a partnership on ice. Within a stone’s throw of a school, the incident raised grim possibilities for the possibilities of catastrophic failure of payload-bearing autonomous aerial vehicles. The drones were operated by Matternet as part of a partnership with the Swiss Post (i.e. the postal service), which was using the craft to dispatch lab samples from one medical center for priority cases. As far as potential applications of drone delivery, it’s a home run — but twice now the craft have crashed, first with a soft landing and the second time a very hard one. The first incident, in January, was the result of a GPS hardware error; the drone entered a planned failback state and deployed its emergency parachute, falling slowly to the ground. Measures were taken to improve the GPS systems. The second failure in May, however, led to the drone attempting to deploy its parachute again, only to sever the line...
Post a Comment
Read more

How the world’s largest cannabis dispensary avoids social media restrictions

Planet 13 is the world’s largest cannabis dispensary. Located in Las Vegas, blocks off the Strip, the facility is the size of a small Walmart. By design, it’s hard to miss. Planet 13 is upending the dispensary model. It’s big, loud and visitors are encouraged to photograph everything. As part of the cannabis industry, Planet 13 is heavily restricted on the type of content it can publish on Instagram, Facebook and other social media platforms. It’s not allowed to post pictures of buds or vapes on some sites. It can’t talk about pricing or product selection on others.   View this post on Instagram   A post shared by Morgan Celeste SF Blogger (@bayareabeautyblogger) on Jan 25, 2020 at 7:54pm PST Instead, Planet 13 encourages its thousands of visitors to take photos and videos. Starting with the entrance, the facility is full of surprises tailored for the ‘gram. As a business, Planet 13’s social media content is heavily restricted a...
3 comments
Read more