Exchanges Round-up: Australian Crypto Company To Help Micro Investments and Kraken Denies Office Closure
There are many recent news about the crypto exchange market lately. They range from an Australia startup company based in Perth that intends to facilitate micro-payments, Kraken rejecting rumors that are on the internet and Roboforex increasing the leverage available on its crypto markets.
Australian Startup to Help Micro-Investments In Crypto Markets
Bamboo, a startup company based in Perth, Australia, has created a new app that will be used to facilitate micro-transactions made with cryptos via the app. The company already has solid plans to release the product in the United States and Australia until the end of 2018.
According to Phil George, the CEO and co-founder of the platform, the main goal is to provide access to many investment opportunities like cryptos for new investors. To reach this goal, the company has made an app to finally push cryptos into the mainstream for once and for all just like the Robinhood app is doing in America right now.
You can use Robinhood to trade shares, but you need a lot of money, Bamboo will help you to do it with only $5 USD if you want to.
He has also indicated that Bamboo will grow and target new emerging markets in the future as many underdeveloped countries are eager to break the barriers of the financial system and this can be a great tool to help them because they do not need to use a huge chunk of capital to start their investments.
This could prove to a game changer in these countries as a lot of the people there will not have $1,000 USD to invest, for instance, but could do it with $10 or $20 USD.
Kraken Denies Rumors Of Canada Office Closing
Kraken, a major United States-based crypto exchange, has recently denied rumors that have appeared on social media that the company would cease its operations in Halifax, Canada, because of security concerns.
This rumor was originated after a Reddit post stated that
“Kraken Currency exchange in Halifax unit 102 at 60 Highfield park drive has just laid off hundreds of people in response to a security breach”.
The rumors stated that there was a giant commotion and that people were escorted off the building by private security officers.
According to a comment, people were forced to accept the voluntary resignation after the issue. Other people stated that the layoffs happened because the company decided that it was important to reduce costs and this was a good opportunity for doing it.
The company has officially stated on Twitter that it was not shutting any operation down and that there was no security breach. All of it, according to the official Kraken channels, was pure speculation and it did not have any truth in it.
Roboforex Ups Leverage to 50 Times
Our final bit of news today is that Roboforex, a subsidiary of the Roboforex Group in Belize, has been increasing its leverage. Up until now, the official leverage that the customers could use on the platform to trade Bitcoin Core (BTC), Bitcoin Cash (BCH), DASH, EOS, Ethereum (ETH), Litecoin (LTC) and Ripple (XRP) was 1:10, but now it will be up to 1:50.
According to the Chief Marketing Officer of the company, Denis Golomedov, many of the clients of Roboforex trade cryptos and cooperation with a broker has helped the company to provide many good options and the highest security levels for the clients.
The increased leverage, according to the CMO, will help the clients to have a wider range of trading strategies and increase their trading volume considerably.