Few things have imploded in global adoption at the scale witnessed by the crypto market.
To accommodate the growth in adoption, and to handle the trade demands of the community, exchanges have launched all over the world. However, the vast portion of exchange developments have been concentrated from the US and China. It’s in the best interest of the community that a decentralized infrastructure is accommodated by a network of exchanges that is well-spread across the world.
A vast portion of exchanges have come out of US and China due to the high Crypto interest rooted in the countries. Interestingly, despite Korea having one of the highest national Crypto trade interest, there’s a limited number of major exchanges from the country; in fact, the highest spot currently held by a Korean exchange is on the 11th spot (by trade volume ranking).
A newly launched Korean exchange, ProBit, aims to diversify exchange presence across the globe, starting with Korea
ProBit Exchange intends to offer over 150 cryptocurrencies. What’s more, this exchange does not accept listing fees from projects. Any project worthy enough to pass ProBit Exchange’s requirements, may list.
This policy will actively protect users from scam projects and hit and runs. A cryptocurrency exchange having no listing fee is very rare – it ensures that the exchange has no conflict of interest in listing projects and aim to list only the very best for its users.
While bitcoin volume is certainly the crown of the market, token trading has seen substantial growth. Thus, exchanges that are friendlier to new cryptocurrencies have a good chance of capturing the one section of the market volume that is still increasing.
Sometimes, timing is everything. ProBit has a record-strong matching engine and well-established security measures so it doesn’t need to rely on timely launch benefits to have an edge. Nonetheless, the Korean government remains poised to soon relinquish pressures on the Crypto market. As regulation become ICO-friendly to domestic blockchain startups, an exchange that aims to aggressively extend its token menu will have a strategic benefit in Korea. Newly launched ICOs within the country would gladly welcome a domestic partner.
This isn’t the only kairotic benefit ProBit has.
Just earlier this year, one of the major Korean exchanges was hacked and suffered a major loss in user base. As a vast number of Korean traders have abandoned Bithumb, a new exchange could stand to be their new home.
Given that ProBit gives extra focus on security, it seems that it has placed the set of measures Korean traders will seek.
While ProBit stands to have a competitive advantage within the Korean market as it can create pathos appeal to traders of its own country, it intends to be a global institution.
The exchange is going to allow all holders of PROB tokens to vote on listings. Thus, anyone from anywhere can make an impact on the listings that take place on ProBit, thereby allowing people from all over the world to decide the direction ProBit takes. Also, holders of the exchange’s PROB tokens will allow market-makers to pay fees as low as 0.025%.
This is a record-low fee that will greatly appeal to traders from any country. On another note, given that the trading pairs are not linked to fiat, ProBit doesn’t limit itself to a specific country’s traders. Being friendly to a large amount of cryptocurrencies means the exchange welcomes listings of projects from across the world.
ProBit will first start off with a focus in South Korea and to the other major markets globally. There’s a need for more exchanges from countries other than China and the US as that’s in the best interest of a system that prides itself on decentralization. While the exchange makes a great effort to spread awareness of its developments, it has a strict policy of never paying for marketing with PROB tokens.