Japan’s internet giant GMO rolls out live crypto trading platform

Japan’s internet giant GMO rolls out live crypto trading platform

GMO, via its subsidiary GMO Coin, has launched a live cryptocurrency trading platform, its third crypto exchange and trading service to date.

The Japanese internet giant currently has two trading platforms: one for a brokerage service and another for margin trading. In a statement, GMO said it decided to launch the new platform in order to maximize its operations by providing clients with everything they need to trade. The live trading platform is aimed at increasing trade and helping investors make proper investments choices.

During the announcement, the company described the new platform as an avenue to help clients sell and buy crypto depending on the demand by investor.

“On the exchange, all order contents are displayed as board information,” according to the GMO Coin website. “Since you can see all the quantities you want to buy and the quantity you want to sell, you can trade while reading the demand of buying and selling of investors other than yourself who can neither display nor read it on the chart.”

The other two GMO platforms support Bitcoin Cash (BCH), alongside BTC, ETH, LTC and XRP; however, the live trading platform currently only allows BTC transactions. There’s a 0% maker fee and a 0.01% taker fee. Withdrawals are free of charge, and leverage of up to 10 times is available.

GMO Internet has also established mining facilities. To date, the internet company has mined over 660 BCH, as well as almost 3,000 BTC. In its monthly report for its cryptocurrency mining business for August, GMO said its total hash rate was 459 PH/s, which was an increase from 384 PH/s in June and July.

In August, the company mined 25 BCH and 510 BTC. The company plans to increase their hash rates to surpass 800 PH/s before the end of 2018.

GMO internet recently announced that they would be shifting their priority from in-house mining to selling off its 7nm miners. The miners are expected to be shipped to clients from the end of October 2018.

New to blockchain? Check out CoinGeek’s Blockchain for Beginners section, the ultimate resource guide to learn more about blockchain technology.