Circle launches its cryptotrading app in the US

Circle launches its mobile app to allow instant cryptocurrency trading with zero commission
15 March 2018   562

Circle has long been hyping up in cryptocurrency markets with its promise of zero-fee trading platform. Now, they launch Circle Invest in US except for NY, MN, HI and WY and release an app to allow users to instantly buy and sell cryptocurrency without any fees. The app is already available in AppStore and Play Store.

The app itself isn't a full-fledged exchange tool, because it hides most of the stuff present on one – you can't take a look at the order book and you can't submit limit orders. For now the functionality is limited to fiat deposits and withdrawals and buying and selling cryptocurrency at market prices. Currently Circle Invest supports Bitcoin, Bitcoin Cash, Etherium, Etherium Classic and Litecoin.

It seems awfully similar to Coinbase, you may say, and you would be right. The parallels are there, but there is also a crucial difference – Circle Invest lets you do all the same things, but for free.

For example, while fiat transfers to account are free on both platforms, on Coinbase you would pay 1.49 percent for exchanging USD to digital currency. On the other hand, Circle gives you an option to transfer up to $10,000 instantly, and anything above that sum takes several days to process, but after that you are free to change your USD to any presently supported crypto without any fees whatsoever.

Of course, on stock markets nothing comes truly free, and everyone knows that. The prices for buying and selling Bitcoin have a spread of about 1.5 to 2 percent between them, as stated by Circle.

The company is a hot topic in the news lately with the acquiring of Poloniex exchange, so we can expect a growing ecosystem around the app soon. That's the difference they promise to bring to the market. For example, Robinhood also provides zero-fee cryptocurrency trading, but they are only intermediaries between users and connected exchanges. In Circle's case, they plan to launch their own cryptoexchange, so the rumors about expansion to a full-stack blockchain company don't seems so far-fetched.

Line to Launch Bibox Exchange in Singapore

Bitbox supports 28 digital currencies, including Bitcoin, Ethereum, USDT, XRP, Litecoin, Ethereum Classic, Bitcoin Cash, Bitcoin Gold, MonaCoin, Qtum and Golem
16 July 2018   140

One of the most popular messengers in Asia Line has launched a Bitbox exchange in Singapore. Trading on the platform started this morning and is limited to pairs with crypto-currencies, Cryptovest reports.

Bitbox supports 28 digital currencies, including Bitcoin, Ethereum, USDT, XRP, Litecoin, Ethereum Classic, Bitcoin Cash, Bitcoin Gold, MonaCoin, Qtum and Golem.

BITBOX is only for trading cryptocurrencies (Digital Tokens). Fiat currencies (USD, KRW, etc.) cannot be exchanged on BITBOX.

Bitbox Website

Bitbox charges a 0.1% commission and supports 15 languages, including English, Korean, Chinese, Spanish, French and German. In Russia, the US, Japan and some other countries, the exchange is not available.

At the beginning of the year, Line Group applied for a license to the Japan Financial Services Agency, but the process dragged on because of tightening of the regulator's requirements in the light Coincheck exchange hack. All crypto exchange, wishing to provide services in the Japanese market, are required to obtain permission from the local regulator.

Currently, Line is also in the process of obtaining a license in the US. The company decided to open its first trading platform for crypto-currencies in Singapore, as this city-state adheres to a progressive approach to the regulation of the digital currency sphere.

With cryptocurrency, we are going to take our challenge in financial services global.

Takeshi Idezawa

CEO, Line

In May, Line Group denied rumors that it intends to release its own token and distribute it through the ICO. Every month Line is used by about 200 million people. The messenger is extremely popular in Japan, South Korea and Thailand.