Bit-X Set To Launch Bitcoin Exchange DigaTrade

Bitcoin exchanges can be found all over the world, and their main goal is to make it more convenient for consumers to buy and sell the digital currency.  And even though there are quite a few exchanges in existence already, there is still a lot of room left for competitive players.  Bit-X’s DigaTrade will be launching soon, and offers a compliance verification process.

Bit-X: Cloud Mining Debit CardsBit-X Small

The name Bit-X has become quite the household name in the world of Bitcoin and digital currency over the past few months.  Similar as to how major Bitcoin cloud mining provider CEX.io offer both mining services and a trading platform at the same time, Bit-X has taken the same approach.

Based on the principle of supply and demand, Bit-X users can freely buy and selling Bitcoin cloud mining hashpower among each other.  Given the current Bitcoin price, and the required price point to make cloud mining even remotely profitable, the average price per GH/s of mining power is relatively low.

However, Bit-X offers plenty of other trading markets as well.  For example, you can exchange Bitcoin or Litecoin intermittently, or against any of the three major currencies – EUR, USD, and GBP.  Plus, you can even buy Bitcoin cloud mining power with Litecoin, which is something you will rarely encounter these days.

In more recent news, Bit-X started offering a digital currency debit card to their customers.  These NanoCards are linked to your Bit-X account, and any balance (except GHS) can be used to pay for goods and services worldwide.  Do keep in mind there will be certain levels of verification you can go through if you wish to remove funding and spending limits of your card.

The price for a Bit-X Nanocard (which is a Travelcard issued by a major credit card company) is 0.05 BTC, and includes worldwide airmail shipping. Bit-X also warns users never to spend more than 70% of your account balance when converting a payment to your card’s currency.

The Launch of DigaTrade

On June 26, DigaTrade will have its soft launch for investors and a few select exclusive users, with the full launch scheduled for June 29. All users of the DigaTrade platform can go through an extensive compliance verification process before they can use the Bitcoin exchange’s full set of features.

“The proprietary trading engine (powered by ANX technology), provides our customers with access to a shared liquidity order-book and proven industry partnerships will provide a smooth trading experience”.  “The simple trading interface combined with world class management of high volume, high throughput, low latency trading modeled on the same LMAX pattern now leveraged by the world’s largest Investment Banks makes DigaTrade™ an excellent choice for your digital asset portfolio”. – Bit-X and DigaTrade President Brad Moynes told the media.

Source: Yahoo Finance

Images courtesy of Bit-X and Shutterstock