BitGo Introduces Better Way To Trade Cryptocurrency

BitGo Inc. has partnered with Genesis Global Trading Inc. to offer crypto investors a better way to trade. The new means of trading offers better security for crypto investors and traders alike.

BitGo’s Better New Trading Innovation

The new crypto trading innovation that BitGo is introducing is offering crypto traders an avenue to buy and sell cryptocurrencies without leaving their cold storage. Cold storage offers better safety for crypto investors as it is not prone to hack. This will enable traders to trade their digital assets with more security against the dangers of online storage.
The Chief Executive Officer of BitGo, Mike Belshe noted in an interview that the firm intends to introduce market structure to the crypto industry, the kind that has never existed before. This will be in the form of ability to buy and sell cryptocurrencies in offline mode without the aid of an exchange. He further stated that this would be reducing the risk of theft, human error or running against the compliance requirements.
The Chief Executive Officer of Genesis Trading, Michael Moro stated that the firm would match the buy and sell order of the BitGo’s customers. Also, Moro noted that trading in cold storage could reduce the problems faced by investors. This includes the issue of price moving against them during the period it takes to load the coin into hot storage of an exchange to trade. Moro further stated that Genesis would make money from the deal through keeping the difference in price to buy and sell, which is known as the bid-offer spread.

Crypto Hack and Growth

The Cryptocurrency market continues to see a bearish trend since the past year. The trend has led to a great market shed of value as well as capital in the range of more than 90 percent. This has further been affected by the trend of crypto hack which makes the market unsafe for crypto investors as well as institutional investors. Ciphertrace, a blockchain security firm noted that an estimate of 1 billion dollars worth of cryptocurrencies was lost to hack in the first nine months of 2018.
Despite the condition of the crypto market, Belshe still believes that better days are ahead in the crypto market. This is in need of a more defined market structure that investors are accustomed to such as the traditional market in stock or futures. Also, Belshe noted that Genesis would not be the only option for the BitGo customers to trade in cold storage, but the firm will engage as many liquidity sources to offer better services to their clients.

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