In Japan, another Bitcoin exchange goes to the start line. She comes this Time from the Messaging provider LINE. The group integrated the exchange in their own App. Such business models will give direction?
By Anton Livshits
19. September 2019BTC$9.853,90 -3.16%part Facebook Twitter LinkedIn xing mail
as announced on The eponymous Messaging App LINE Corporation has announced the launch of a new Bitcoin exchange. The BITMAX-exchange is, therefore, from the age of 17. September for Japanese customers via the LINE App available. In addition to Bitcoin (BTC) customers can trade here even with Ethereum (ETH) and Ripple (XRP), as well as with Bitcoin Cash (BCH) and Litecoin (LTC). In the related press release, the LINE promises that BITMAX is first and foremost, “simple and sure”.
BITMAX is integrated into the LINE App and it’s own Wallet Tab available. It is also associated with LINE Pay, the payment system of the Messaging App. The exchange between crypto – and Fiat currencies will thereby be facilitated. The LINE App itself has according to the company, in Japan alone, over 81 million active monthly users. Worldwide, there will be 164 million. The responsibility for the operation of BITMAX is wearing the LVC Corporation, a subsidiary of LINE.
Whereas BITMAX remains the Japanese market reserved, operates the LINE with BITBOX in addition, a global Bitcoin stock exchange. BITBOX is operated by a different subsidiary of the Messaging group from Singapore.
LINE promises safety
the authors of The press release repeatedly stresses the advanced security Features of BITMAX. The exchange will use, therefore, a “high-security Wallet” by the US firm BitGo. The other two insurance companies prove to be, upon closer Inspection, however, initially rather as the standard requirements for crypto-exchanges. So Line promises to be a clear separation of client and company funds. The stock exchange shall have custody of your Assets in a Cold Wallet, which is a “dedicated Team” will be responsible.
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competition in The Japanese crypto-market is increasing in the light of the BITMAX Launches-resistant. However, this appears to be especially for Internet companies in the Trend in the Bitcoin exchange business. So also, the Japanese E-Commerce started giant Rakuten währungn a hub for Crypto. The business model is close to the LINE here, amazing. Also, the exchange of Rakuten is an App available. In addition, the operators also emphasize here at the marketing of the most advanced safety features. A total of over 13 Bitcoin exchanges are in Japan, registered.
That LINE in particular emphasizes the aspect of safety, not, however, of about. In Japan, many will remember, finally, to the Causa Bithumb. An Insider is said to have stolen the Assets of the crypto-exchange in the neighboring country of South Korea at the time, directly from the Cold Wallet. The Japanese financial Supervisory authority has demanded that the domestic Bitcoin exchanges as a consequence of stricter control of its own Asset storage.
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