Shortly after enabling Bitcoin SV (BSV) trading, London-based cryptocurrency exchange Voltaire.cash is following it up with a new feature that will increase BSV liquidity—by rewarding users for trading on the exchange.
The scheme is called CashBack, and it allows users to earn BSV along with other coins for trading on the exchange through maker orders, according to Voltaire. A calculator is available on the exchange for users to compute their potential BSV earnings for trading on Voltaire.
The platform credits 0.2% of the value of each maker order directly to the user’s wallet in the currency used to make the trade, which means that if a user makes an order to buy BSV, they can get 0.2% of their order’s value back in BSV. The user’s total earnings can be checked on the exchange’s trading interface. CashBack is enabled by default on all trading pairs offered by Voltaire.
The goal, according to the Voltaire team, is to distribute revenue among exchange users while also encouraging them “to create maker orders in a bid to exchange liquidity without the need for an exchange token.” They noted, “More importantly, it’s about increasing BSV liquidity and the volumes involved in BSV’s trading ecosystem.”
Voltaire enabled BSV trading on its platform in February, a move that it said marked “the beginning of a new era” for the electronic cash exchange, which has been firm in its belief of Satoshi’s original vision of a “peer-to-peer electronic cash.” Voltaire founder Semyon Germanovich has acknowledged the BSV network’s dedication to restore the original Bitcoin protocol and keep it stable all while allowing it to massively scale and keep security paramount to support safe instant transactions for merchants.
Jamahl McMurran, head of growth at Voltaire, said in a statement: “Bitcoin SV offers a technically sound solution to scaling. High transaction fees and extremely slow processing times as observed in 2016 are unacceptable and have a catastrophic impact on payment and trading experience. We chose to list Bitcoin SV because we believe it’s a solid implementation of the most efficient and fastest technology to use for payments and trading.”
Learn more about Voltaire’s CashBack scheme here.
The Genesis protocol upgrade on February 4, 2020 is a monumental step in the history of Bitcoin, and will see BSV returned as close as possible to the original protocol as envisioned by Satoshi Nakamoto. Visit the Genesis Hard Fork page to learn more.
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