Blockchain.com launches Pit exchange

Blockchain.com launches Pit exchange

Blockchain.com has generated over 40 million digital-asset wallets and now it’s entering the crypto trading field with a new exchange.

The new London-based exchange named The Pit is going to offer ETH, BTC, USDT, LTC, PAX and BCH. Customer can transfer money instantly, with soon starting trading. CEO of Blockchain.com Peter Smith said that the concept of the project is taken from the boom-and-bust cycle of 2017 and 2018, this was the period when marketplace production was spotty at best.

Meaning the software that connects purchasers and traders, Smith mentioned that they intended to create a Wall Street or a Chicago-level correlating tool.

The Pit is planned to execute orders in approximate microseconds, contrasted with average - 200 to 500 milliseconds - at the majority of crypto exchanges. Smith refused to mention any bank cooperating with Blockchain.com, telling that only banks are going to give clients an opportunity of depositing USD, EUR or GBP on to the exchange.

In order to have links with the biggest banks of the world, the exchange servers are going to remain in the Equinix LD4 facility in London.

Blockchain.com insists that 25% of all Bitcoin purchases originate with one of its wallets. The corporation is going to encourage all its users to hold their coins in their wallets not on the exchange to guarantee its protection.