Business 18 January 2018

Vince Dioquino

CoinEx pioneers Bitcoin BCH-based trading

Launched in December, CoinEx is a new player in the cryptomarket with a practical idea: make Bitcoin Cash (BCH) the base cryptocurrency against which all other cryptocurrencies will be measured.

The Hong Kong-based exchange offers a high-speed matching engine with its proprietary infrastructure, holding up to 10,000 transactions per second. The exchange has secure standards such as an encrypted frontend (with TLS), two-factor authentication, multi-signature strategies, and an optional cold wallet storage. The exchange provides an assurance of 100% reserves for all its users, alongside a suite of global-oriented services backed with worldwide liquidity.

Despite a perceived market crash in the recent week’s general decline, these falling rates are nothing new to the crypto world. Whenever the SegWit1x chain (BTC), also known as legacy Bitcoin, declines, leading cryptocurrencies like Bitcoin Cash usually react with a correlation, a result of covariance in the crypto market, a measure made whenever assets like the two are met with extensive risk. In a little over five months, Bitcoin Cash has proven to be a strong and reliable name in the cryptocurrency space. Newer platforms like CoinEx recognize these factors in their business strategy, and have thus resolved to make Bitcoin Cash their default cryptocurrency.

According to its trading page, all of CoinEx’s transactions are “BCH-priced.” This means that all other cryptocurrencies are based and paired with Bitcoin Cash. Even its site title’s built-in ticker displays BCH equivalencies. CoinEx is an engine whose backend is maintained and operated by ViaBTC developers, known by crypto enthusiasts for their strong BCH pool.

To date, CoinEx facilitates trading of BTC, Ethereum, Litecoin, Zcash, and Dash with Bitcoin Cash as its base cryptocurrency. The exchange also adopts a refined valuation model for listing new tokens.

With cryptocurrencies bouncing back after a brief series of corrections in the past few days, a BCH-first trading platform like CoinEx will benefit from the rise of Bitcoin Cash users and traders, further expanding the ecosystem’s adoption into different sectors. True to its micro-transactions ethos, the exchange prioritizes small withdrawals, which it processes in under five minutes.

Note: Tokens on the Bitcoin Core (SegWit) chain are referenced as BTC coins; tokens on the Bitcoin Cash ABC chain are referenced as BCH, BCH-ABC or BAB coins.

Bitcoin Satoshi Vision (BSV) is today the only Bitcoin project that follows the original Satoshi Nakamoto whitepaper, and that follows the original Satoshi protocol and design. BSV is the only public blockchain that maintains the original vision for Bitcoin and will massively scale to become the world’s new money and enterprise blockchain.

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