Cryptocurrency exchange bitFlyer now operates te more states than Coinbase
Cryptocurrency trading is getting competitive
Long known spil a popular Japanese cryptocurrency exchange webpagina, bitFlyer will now support US-based residents interested te the lícito trade of digital currencies. Coinbase and Gemini are the two major businesses with approval for US operations. Coinbase has licensing for 38 different states while Gemini offers services te 46.
bitFlyer has bot approved to suggest its services ter 41 states, coming ter just above Coinbase. Overheen $180 million is traded daily on bitFlyer ter Japan. Opening up the service to US residents could help budge bitFlyer up from its current rank spil the 14th largest exchange webpagina. When trading on margin is factored te, bitFlyer ranks number one te total trade volume.
Originally, there are only plans to support trading inbetween Bitcoin and US dollars. Extra trade pairs will be suggested te the future albeit there are no confirmed plans regarding which other currencies are ensured to be supported. Ethereum, Litecoin, Bitcoin Specie and other coins with large market caps are likely to be added.
Similar to Coinbase and Gemini, there are different requirements for identity verification before trading is permitted. Basic information such spil name, phone number, birth date and huis address are required. Providing basic information permits for up to $Two,000 to be deposited or withdrawn daily and individual transactions are limited to $Three,000 each. Deposits and withdrawals of up to $50,000 can be enabled by providing photo ID which also eliminates the confinement on transaction size entirely.
For now, only wire transfers and cryptocurrency are supported for moving money ter and out of the exchange. Lighter options such spil ACH transfer will be introduced at a zometeen date.
One of the major complaints about Coinbase and Gemini are support toegangsbewijs response times. A third major US exchange will undoubtedly be welcomed by those interested ter digital currencies and may help alleviate some of the headaches involved with contacting support on exchange sites.