Hong Kong based crypto exchange, Bit-Z recently announced the listing of Ripple’s XRP on its platform for exchange and trading. Currently, the Ripple’s XRP will be paired to USD (United States dollar) along with BTC and other digital currencies.
Bit-Z is one of the leading digital assets trading exchanges in Hong Kong. It was founded back in the year 2016. The exchange provides professional digital asset OTC and trading services.
The crypto exchange firm has branches in almost ten nations. Currently, seventy percent of the Bit-Z traders are from Singapore, France, Japan, United States, South Korea and Australia. Bit-Z also offers the most secure, efficient and fast services.
Prior to the listing of XRP many other cryptocurrencies were already listed on the exchange
Bit-Z claims that currently the exchange lists over 140 digital currencies and has nearly 205 trading pairs. The VTC (Verticon) trading was also listed recently with the surge of over 451 percent within ten minutes of the listing.
The exchange also works similarly as other digital exchanges, where the customers should open a single trading account via which they can sell or purchase Bitcoin (BTC). However, in the beginning, almost all the crypto exchanges permit customers to purchase only BTC.
Although many crypto assets are available at Bit-Z, until recently, investors were not able to use it to directly purchase anything. The exchange allowed OTC trading on its platform before listing XRP. The OTC Market was released back in May last year that experienced customers activity surge by sixty-nine percent. The OTC trade allowed investors to utilize the Chinese Yuan or USD to purchase BTC, LTC and ETH.
These purchases were made off the firm’s platform, but once the investors had obtained them, they could be transferred to the investors Bit-Z account. The transactions then could be done by using a wide range of payment processes.
This attempt of adding Ripple’s XRP by Bit-Z might prove to be a turning point as XRP currently, has acquired tremendous popularity and acceptance in the crypto world. XRP is one of the most popular digital currencies in the world. The number of crypto exchanges that are allowing customers to purchase XRP directly is very less.
Fortunately, it is the perfect time for the Hong Kong-based crypto exchange to gain popularity regarding Ripple’s XRP. Although, the latest crypto market experienced a downfall in the price of top digital currencies. The XRP is trading with a positive trend when compared to the other digital currencies.