11
Apr

OKCoin start accepting Ethereum trading with fiat currency

OKCoin plan to start accepting Ethereum trading using fiat currency.

OKCoin

 

Actually, not many exchanges allow to buy Eth using fiat currencies (like € or $) directly, instead you have to purchase Bitcoin first and then trade them with Eth or some another altcoin.

“Our source tells us OKCoin is now planning on listing Ethereum. ‘May list it at the appropriate time.’ Confirmed by OKC customer service,” the CnLedger team said.

During 2016 several users report the chance of OKCoin’s introduction of Ether trading. On OKCoin website, you can trade Bitcoin and Litecoin. When you access to the platform, you are redirected to two subdomains: “www.okcoin.cn/trade/btc.do“, if you want to trade Bitcoins, and “www.okcoin.cn/trade/ltc.do.” if you want to trade Litecoins. However, if you try to replace “ETH” with “LTC” or “BTC”, a 404 error doesn’t emerge (like should) but instead, you are redirected to OKCoin homepage.

 

If OKCoin (and other Chinese Trading Platforms) start accepting direct trading with Ethereum, it could open the Asian market to Eth trading. Actually, the main markets for Eth are the United States (17%) and South Korea (10%). OKCoin’s integration of Ethereum could open the doors to a new (and giant) market for Eth. Ethereum has smaller networks fees and the transactions are very faster than bitcoin: this could create a big demand of Eth, due to the possible migrations of Chinese traders/cryptocurrencies users who use Bitcoin to move big capital.

 

Several experts believe that Ethereum could be a better alternative to Bitcoin: the transaction fees (or Gas cost) is fixed and the time needed to confirm a transaction is a fraction compared to the Bitcoin Network. Bitcoin could easily fix these problems, but, like told before, its governance seems far from a solution.

 

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