Crypto Lender, BlockFi Rolls Out Real-Time Trading For BTC, ETH, And GUSD For Zero Fees

Crypto lending platform which is supported by Galaxy Digital, ConsenSys Ventures among others, has introduced a new trading platform that attracts zero fees. According to CoinDesk, the platform’s clients will have the liberty to buy or sell utilizing their current balances. The trading platform will allow the clients to buy or sell Bitcoin, Ether, and GUSD. For instance, customers will have the capacity to purchase Bitcoin using Ether or GUSD from their deposit and vice versa.

The new trading service will attract zero trading fees and comes with a divergent profit model. The profit will be generated from the sale of data based on user’s trades to large institutional crypto companies which will be the market makers within the platform, thereby offering liquidity.

According to Zack Prince, BlockFi CEO, explained that market makers are interested in information on the trades taking place and can only get it through maintaining relationships with various venues as per their support. In other words, market makers must pay to get data from different venues.

Prince also explained some of the market makers are already BlockFi customers but in the crypto lending section while others are equity investors such as Akuna Capital, Susquehanna as well as CMT Digital. He added that since these firms will have different activities within the BlockFi platform, it will enhance the building of strategic ties with them.

According to the CEO the decision to launch an exchange or trading services after a survey revealed that the majority of the customers withdraw their crypto funds and assets for trading purposes. Prince explained that the majority of the customers requested an introduction of trading services within the platform.

Returns to Customers

BlockFi has become a big name in the crypto space for providing investors an avenue to get a return from their crypto without having to do anything. Customers who have kept their GUSD, Bitcoin or Ether with the platform are able to take loans using their cryptos as the collateral. Customers are also able to earn interest based on the amount of their deposits. The company lends the deposits to institutional investors for trading purposes who pay interest that is passed on to the depositors.

Get Free Email Updates!

*Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

I will never give away, trade or sell your email address. You can unsubscribe at any time.

Joseph Kibe
Joseph Kibe
Joseph is a blockchain and cryptocurrency enthusiast, with a strong conviction that exposure of blockchain technology is for the good of the society. Fascinated by the massive potential of cryptocurrencies and the technology behind them – blockchain – Joseph spent lots of his time learning more about the industry, becoming a polished expert writer in the sector. He covers any cryptocurrency and blockchain related content.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

LEAVE A REPLY

Please enter your comment!
Please enter your name here

3,478FansLike
2,795FollowersFollow
4,199FollowersFollow

Live Bitcoin Price & Latest BTC Charts

Today's Latest Crypto News

The Good and Bad of the Crypto Going Public

This week, big news came in the form of crypto businesses that are planning to go public either later this year or next year. Crypto...

US Secret Service Has Modernized Its Role in Tackling Financial Crimes in The Crypto Era

The role of the US Secret Service, whose purpose extends from protecting the US President Trump to protecting the US financial systems, has...

Bitcoin is in a ‘Consolidation Zone,' We’ll Move to $14,000 Once BTC Gets Above $10k: Mike Novogratz

Bitcoin is about system change, said Mike Novogratz, CEO of Galaxy Digital, in his latest interview with Barron’s Carleton English. While talking about the catalysts...

Volvo Invests In Blockchain Traceability Startup Circulor To Track Cobalt Supply Chain

Volvo Cars Tech Fund, a subsidiary of Volvo, announced its investment in blockchain traceability firm Circulor on July 8. The popular carmakers have used...

Blockchain Developer Platform Releases Alchemy Build, A Tool Suite for Faster Production

Alchemy, a blockchain startup, focuses on building developers' tools to help them become more productive and focus more on actual product development. The blockchain...

BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.

Start Using Crypto Today