Blockchain Technology Startup Bit.team to Launch New Global Cryptocurrency Exchange - Reuters

 

Blockchain Technology Startup Bit.team to Launch New Global Cryptocurrency Exchange

Blockchain Technology Startup Bit.team to Launch New Global Cryptocurrency Exchange

Fri Jul 13, 2018 - 10:31am UTC

Blockchain technology startup Bit.team recently announced the launch of a new global cryptocurrency exchange. Bit.team is a decentralized P2P online cryptocurrency exchange supporting all major cryptocurrencies, including Bitcoin, Ethereum, Ripple, Dash, Litecoin and more, and connecting buyers and sellers with multicurrency transaction support and dispute resolution services.

Bit.team empowers market participants to trade directly with each other without a third-party intermediary processing transactions. The launch comes at a pivotal time for the nascent cryptocurrency marketplace. Bitcoin has shed over half of its value in 2018 and other digital currencies are also seeing significant market value losses. “Investors are spooked by the prospect of increased regulation and market oversight, several high-profile cryptocurrency thefts and profit taking after tremendous performance on 2017,” explains Maksim Bogomolov, co-founder of HypeAnalysis.com, a leading cryptocurrency media analytics platform.

The recent events have actually made it more important than ever for new exchanges and institutional market participants to enter the arena and provide needed competition and offer investors improved alternate trading venues.

“The advantage of the decentralization of digital currency trading is lower costs and faster transaction processing using our proprietary software,” explains Bit.team founder and CEO Anatoly Berdnikov, “the high transaction fees, slow order routing, delayed fulfillment, deficient currency transfers and belated confirmations associated with traditional cryptocurrency exchanges cost investors millions annually. There is a better, faster and more affordable way to bring together buyers and sellers.”

Instead of matching orders in an order book, Bit.team’s software brings together the people submitting those orders. Whenever a matching buy and sell order is submitting, Bit.team’s software connects the buyer with the seller, allowing them to conduct a transaction seamlessly, in real-time without any intermediaries.

Bit.team acts as guarantor for all transactions, offering an additional layer of trust and protection for the counterparties. In the event of a dispute or disagreement, Bit.team can step in, at any time at the request of the parties, to help mediate and resolve a dispute.

“Speed, simplicity and safety is at the heart of the Bit.team user experience,” explains Berdnikov, who has previous executive-level experience in the cryptocurrency space, successfully launching a digital currency technology startup specializing in P2P cryptocurrency transactions.

Bit.team users can search for the best offer for their current holdings or self-publish their own buy/sell offer. Once a user finds the best offer, he or she can send a transaction request to the author. After reaching agreement on price and terms, the transaction can move forward. The seller sends an account number, and the purchaser transfers funds to the account via a secure online payment system. All communications are encrypted to ensure security. After confirmation of payment the cryptocurrency is deposited immediately to the purchaser`s account. Investors never have to entrust their funds to a third party, virtually eliminating the possibility that cryptocurrency can be lost or stolen since the owners maintain possession and control throughout the process. After the transaction is complete, both sides have the opportunity to rate each other, providing an open and transparent mechanism to build a community of trust.

“We are very excited to play a leading role in the disruption of the digital currency exchange marketplace,” says Berdnikov, “the early adopters to our platform find it superior to existing solutions available in the marketplace and our transaction volume is growing daily. We look forward to further development and expansion of the platform over the coming months.”

To learn more about Bit.team, visit: https://token.bit.team/

For content enquiry, please reach us at

Latest News >

Revolution Precrafted closes US$460 million eco-resort deal in Brazil

Brazil will become the 16th international market for Revolution Precrafted, which has recently expanded to South and Central America, the Caribbean, Middle East, and Europe.

06:52am UTC

3B Ventures sets up new US$60 million fund for impact investing in Southeast Asia

The Danish venture capital firm will target startups that are aiming to solve at least one of the 17 issues included in the United Nations Sustainable Development Goals.

08:08am UTC

Thai billionaire increases stake ownership in Vinamilk to 21 percent

F&N Dairy Investments plans to purchase an additional 14.5 million shares to increase its stock ownership to 21 percent.

08:12am UTC

Japan’s Taisho to increase stakes ownership in Vietnam-listed DHG Pharma to 32 percent

This will cement the Japanese pharmaceutical company’s position as the 2nd major shareholder in DHG Pharma.

09:44am UTC

Singapore’s Anchanto raises US$4 million from MDI Ventures in ongoing Series C round

The SaaS technology company will use the funds to expand market outreach and establish a stronger presence in Southeast Asia.

05:12am UTC