Japan’s New Overbit Cryptocurrency Exchange Goes Live to Offer Buying and Selling of Bitcoin
Overbit.com is a foreign cryptocurrency platform and exchange that recently announced that it has gone live and that users can access it to purchase and sell cryptocurrency, global indices, currencies, and even gold and silver. The platform released a statement about its services and that it is the first platform in its country to allow for both cryptocurrency and foreign exchange. In this case, Bitcoin is the platform’s underlying asset.
The platform has been developing itself and its services since 2017 and on February 18, 2019, it finally went live. The platform’s goal is to boost cryptocurrency liquidity, which may attract new traders. Right now, customers can use the platform to purchase and sell cryptocurrency and other financial products. According to a statement by the platform.
“Overbit is one of the world’s most secure trading platforms. Overbit operates multi-signature cold wallets that require for any withdrawal, signatures from individuals in different countries.”
The platform added,
“Client Bitcoin is always segregated, protected, and never stored in hot wallets. For added protection, engineers and security personnel working at Overbit are prohibited from revealing their identities on social media.”
Though the platform seems to provide some prime services, it may have chosen the wrong time – as the industry is not doing so well. The bear market has caused digital currencies to decline in value and cryptocurrency mining has tanked as well. There might be some hope though – according to the Financial Services Agency, Japan’s demand for cryptocurrencies is faring better than others and more firms are trying to enter the space. Thus, Overbit may have a chance.