Estonia’s CoinMetro Plans To Rival Coinbase With Simple And Intermediate Trading Exchanges
The tokenized exchange platform known as CoinMetro is going to take on Coinbase. The company has recently announced a new simple exchange platform specifically designed to attract experienced and beginner traders to the exchange.
CoinMetro has decided to launch an open beta version of its trading platform. The new exchange is very simple to use and has been designed for cryptocurrency users to start trading virtual currencies such as Bitcoin (BTC), Ethereum (ETH), XRP, Litecoin (LTC) and Bitcoin Cash (BCH). In the future, other assets could be added to the platform.
However, with a double solution, it will also be offering an ‘intermediate exchange’ which is more complex and has different functionalities that the ‘simple exchange’ does not provide. This has been built in an attempt to offer solutions to both crypto beginners or trading experts.
Some of the premium features include multiple charting options, candle, mountain, bar and line charts. At the moment, these platform are simulations which are being tested. However, the company has already planned to launch them later this year.
This is not the first time that a company is separating beginners and advanced traders. Coinbase, one of the most successful companies in the cryptocurrency market, has been offering a basic platform for beginners, and a more complex product for traders and crypto experts.
At the same time, Coinbase has been working during the last months in new products and services for institutions and other wealthy investors. The company was able to do everything without focusing on retail investors using more simple platforms.
The San Francisco-based company was searching institutional investors and traders using Coinbase Prime. Additionally, another platform used by the company is Coinbase Pro, also offering institutional-grade services. Coinbase is currently offering support to different virtual currencies as well.
CoinMetro is taking a similar approach to fulfill the needs of different investors. However, it has a very positive thing to mention: the exchange is not based in the United States. That means that it would not have to comply with heavy regulations that are not allowing some companies to prosper in the country.
Kevin Murcko, CEO of the platform, commented on the matter:
“Crypto needs a marketplace that is accessible to all-one that caters to both beginners and advanced traders. With our current version now live for the public, we’re showcasing just how far we’ve come in achieving that goal. Our web-based beta has been built with ease of use in mind and is a major stepping stone in terms of our ultimate goal of producing a fully-integrated and regulated exchange, trading, and ICO platform.”
Regulatory issues have been very harmful for companies in the space. There are some countries such as Malta that are working with the intention to attract crypto and blockchain related companies. With less intervention from governments it would be possible for new technologies to grow and appear in the market.
Moreover, CoinMetro has also maintained a focus on UI intuitiveness and functionality. This is quite important since several users in other platforms complain about how difficult is to use these platforms and how they do not allow beginners to start properly operating.
CoinMetro explains that they worked on a user-friendly experience and at the same time offer the same functionalities. Once the platforms are functional, CoinMetro promises a one-stop shop for cryptocurrency traders.