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/
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