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Finally, a Bitcoin Exchange by Traders for Traders

Tue, 11 Jul 2017 11:28:40 GMT

By Jon Matonis Medium Tuesday, July 11, 2017 https://medium.com/@jonmatonis/finally-a-bitcoin-exchange-by-traders-for-traders-664defd2c16f I first met my Globitex.com co-founders Liza Aizupiete and Andris Kaneps at an inspired café in central Copenhagen during early 2015. Their mantra has always been that Globitex is a trading platform built by traders for traders. Unsurprisingly, that guiding philosophy has permeated every design choice since inception. As my background is in foreign currency and derivatives trading, I have always aimed to launch a cryptocurrency exchange. In fact, I worked on putting together a Gibraltar-based investment group to purchase the original Mt. Gox from Jed McCaleb in early 2011, however the market proved too immature to finalise the reluctant investor commitments. Since that time, bitcoin and other cryptocurrency exchanges have matured greatly, expanding into multiple trading pairs, margin trading, and even derivatives trading. All of this innovation has led to increasing liquidity and market depth for bitcoin trading as well ushering in the sophisticated hedging and risk management strategies desired by corporate treasurers. So, where does the bitcoin exchange industry go from here? It already boasts one of the most predictable revenue streams in the Bitcoin ecosystem with steadily increasing volumes that generate commissions in both up and down markets. And liquidity is “sticky” giving incumbents a distinct advantage. But,...