Over 100 altcoins to be traded on South Korea's Exchange
South Korea is the principal market for Bitcoin commerce volume in Asia; even more so than China. For that reason a new cryptocurrency trade is being launched. And it will offer investors the alternative to do business between 111 different altcoins.
Digital App Heirs
The new service is called Upbit. It works as an altcoin exchange conceived by Dunamu. It will allow all-ranges investors to deal different altcoins. Dunamu is also known as the maker of mobiles apps for daily tabloids in South Korea. It’s owned by Kakostoch, the most popular mobile exchanger app in the country. Kakostock is derived of sister company Kakotalk, the top mobile messenger app in South Korea. With a traffic of over 49.5 millions of active users worldwide.
From Closed Options to Open Market
The altcoin market in South Korea is a closed one. The country is currently open to 5 altcoins to place investments. No more, no less. Upbit is game changer in the wide picture. The service will open the doors to opportunities on grand scale, offering different altcoins for every type of investor.
The goal is to draw a good fraction of the players in the South Korean cryptocurrency field, by offering an opening to worldwide markets through this new platform. Upbit is also collaborating with the exchange company Bittrex, based on the US to ensure the success of this initiative. Their biggest contribution is the chance offered to South Korean investors to deal with at least 190 cryptocurrencies from all over the world. While not all of them will be offered on opening day. The investors will soon realize the big playfield they have been offered.
This is a chance like no other for those waiting to jump in the cryptocurrency arena. It also solidifies the state of cryptocurrencies in the world as a financial tool by offering access to them to more people.