The Bitcoin exchange Bittrex Global plans to issue a platform-own cryptocurrency.
As can be seen from a tweet, Bittrex Global, the European subsidiary of the Bitcoin exchange Bittrex, wants to delight the crypto market with an internal exchange token.
— Bittrex Global (@BittrexGlobal2) May 5, 2020
The company had recently positioned itself in Liechtenstein. In the course of this it had become known that Bittrex Global would also offer trading in euros. The launch in Europe was given by the offshoot with the trading pairs BTC-EUR, ETH-EUR, USDT-EUR, BSV-EUR and TRX-EUR.This should make it possible for users in Europe not to have to go through the US dollar. The use of an internal exchange cryptocurrency could promise advantages in relation to the switch between Fiat and crypto.
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Similar to the Binance Coin (BNB), however, it will probably be a matter of issuing a platform-own token with which one can pay fees and other intra-exchange actions. In the case of BNB, the exchange’s own cryptocurrency also serves to pay fees for so-called initial exchange offers (IEO). These represent an (apparently) secure alternative to the initial coin offerings (ICO) that have fallen into disrepute.