Creditbit Plans to Launch Proprietary Exchange 

Software management platform Creditbit has shows interests towards launching its very own official exchange.

The open source project, which provides users the power to run, modify, copy and distribute software, has lately experienced an increasing demand for its decentralised native token CREDIT. It is due to the core theory of their white paper that is attracting new investors towards the Creditbit project, hence adding more value to CREDIT units. Its market capitalisation, according to the coinmarketcap.com, had crossed $3.1 million, which now sits comfortably near $2.6 million.

The Creditbit team has pushed their token to many leading alternative cryptocurrency exchanges — mainly BloomBit, Livecoin, Cryptopia, Novaexchange and YoBit — with an aim to improve upon its liquidity in the real world. Therefore, to ensure that CREDIT remains accessible and exchangeable for lifetime, the project may launch a proprietary exchange.

It sounds like an apt response to the growing demand, where a homegrown vertical takes care of all the trading needs of the investors. It also helps the company spread trading risks, for the third party services can always breakdown during an unannounced security breach, or for many other reasons.

Creditbit although have more reasons. The project offers a distinctive staking feature to all its users. Using this feature, according to the website, if users own CREDIT, then they can earn up to 8% annually extra by participating in the staking process which is just leaving their wallet open to process transactions.

Creditbit plans to raise funds to create the aforementioned exchange. It said:

“To achieve our goals the community needs to get involved, if not in promoting the use and development then in donating for the project, as you know Creditbit was launched without any pre-mine or instamine, our main income is the collected fees from the Official Pool, half of that (around 35K CREDIT at the moment of writing these lines) will be dedicated for these goals, donations are encouraged.”

Read more about the project here.

Disclaimer: The opinions expressed in this article do not represent the views of NewsBTC or any of its team members.  NewsBTC is not responsible for the accuracy of any of the information supplied in Sponsored Stories/Press Releases such as this one.