If you’ve waiting on the virtual sidelines, waiting for Bitcoin to become mainstream enough to warrant an exchange that provides some level of guarantee that your precious Bitcoins won’t just up and disappear in an unexpected “hack”..
Well, you may be in luck.
CoinSetter looks to be one of the first Bitcoin exchanges that’s built from the ground up with enterprise-level security features.. Something that’s been needed in this industry for some time now.
Crypto is but a wee lad, preparing to take it’s first major strides, and CoinSetter is positioning themselves to be instrumental in it’s growth and development. No doubt that doing so will propel them to be a seriously profitable company.. The first major crypto exchange that gets it “right” will attract new users in droves and become an absolute overnight success.
It’s definitely exciting to see so many options just beyond the horizon. And while CoinSetter is still in beta, (sign-up to participate in beta here) it possesses a few features that make it appear as though it will a major step up for the crypto traders among us.
New York Is The Place To Be.
CoinSetter will be the first New York based Bitcoin exchange – potentially making it the “Wall Street” of the crypto world.
Not only will this be great press for Bitcoin, but it’s also likely to attract A LOT of those dollars residing just right down the street. Of course this is all speculation.. Simply having a major exchange in New York will also lend credibility to BTC, and possibly reassure those would-be Bitcoin buyers that may be slightly more timid than the rest of us.. Opting to not trust unknown strangers in foreign countries with thousands of dollars worth of Bitcoin – on an exchange platform that may be lacking, to say the least.
No More Wiring Money To Unverified Exchanges
Currently, if you wanted to deposit fiat directly into an exchange – You’d have to wire them the money and hope it showed up in your account within a couple of weeks to months. How sophisticated.
With CoinSetter though – it’ll be as simple as transferring cash directly from your bank account into your CoinSetter trading account. Much like CoinBase, you’ll be able to connect your CS account directly to your bank account.. and while it’s already pretty simple to just buy BTC from CoinBase and transfer them your exchange of choice – Being able to connect your bank account will certainly be a welcome addition for many traders and investors.
Earn Interest On Your Bitcoins
One of the more interesting features of this particular exchange is that it will be possible to earn interest on the BTC that you keep in your trading account.
This is an interesting idea, and one that I can only assume will be attractive to anyone trying to choose which crypto exchange to use. The details of this interest bearing Bitcoin account are still unreleased, so it remains to be seen how much potential this has.. it’s certainly something to keep an eye on.
This is a big one.. There have been numerous concerns raised recently concerning the liquidity of BTC exchanges, and for good reason – it is a legitimate concern.
Just as CoinSetter is raising the bar in security features, it’s also going to bring in liquidity from additional non-Bitcoin markets. Where exactly this liquidity will come from isn’t yet known, but it honestly doesn’t matter all too much.. additional liquidity of any kind is a huge step in the right direction for any exchange that hopes to become part of the foundation of the crypto world.
This feature alone is enough set CoinSetter apart from the pack of crypto exchanges that are currently under development.. but there are a plethora of features that will determine what makes any one of said exchanges a success or failure.
For the most part though, we think it’s safe to say that any exchange that brings a solid platform to trade on, will likely thrive in these early days of the digital gold rush.
So, if your’re a trader or simply interested in buying a bit of BTC – be sure to keep an eye on the horizon for CoinSetter.