Bitrue: Crypto Exchange Holds 2% of XRP Market in Only Four Months
Singapore-based exchange Bitrue has been active for only four months and already handles over 2% of the world’s XRP transactions.
The company’s mantra of “putting customers first from day one” may be the key to its success. But how does that translate in practice? The platform boasts enhanced security, an easy user interface and a reliable customer support team.
The project describes itself as a “community” rather than just an exchange but is that just good marketing?
Maybe not. Not only a secure platform, it offers asset management and investment tools also. The aim is to be a “one stop shop” for investors.
According to Bitrue CEO Curis Wang: “Bitrue is committed to list only legitimate and promising tokens on our platform.”
And it has a team of technical and compliance experts ready to vet coins and tokens before they are listed on the platform. It is constantly adding trading pairs, so it’s a necessity to ensure security and legitimacy.
The platform charges no listing fee, aiming to build “the most professional and clean” investment environment.
For starters, the company has 16 XRP trading pairs. It has surpassed exchanges Poloniex and Bittrex when it comes to daily XRP trading volume. This equals 2% of total transactions and is an impressive feat for an exchange that is so new. The exchange market is notoriously competitive and challenging, and regulations don’t make it any easier.
But Bitrue has also actively sought to build XRP liquidity with its team, motivated by their “strong belief and respect” for the cryptocurrency. At the time of writing, Ripple (XRP) is selling for over $300 per coin and is up over 4% on the day. XRP is now the second largest coin by market cap after surpassing Ethereum back in September this year.
Though registered in Singapore, Bitrue is aiming for global reach. The company has plans to open offices around the world including in the United States, Japan, Taiwan, and Europe.
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