BTC-e, a European exchange, has added bitcoin-based trading pairs on Ethereum and Dash, extending the trading possibilities for these coins, according to Finance Magnates . Ethereum and Dash are the second and fifth largest cryptocurrencies, respectively, based on market capitalization.
BTC-e caters to retail forex traders. Through a partnership with FXOpen, a forex broker, BTC-e was the first exchange to offer cryptocurrency trades using the MetTrader 4 platform. It also began offering percent allocation management module (PAMM) accounts, a form of managed trading to copy strategy providers’ orders that was popular in Russia in 2014.
According to dashpay magazine, which covers Dash, BTC-e is one of the most anonymous organizations running an exchange, despite being one of the oldest exchanges with a huge user base.
BTC-e, having carved a niche with retail traders, especially in China and Russia, could help Ethereum and Dash gain more exposure to retail traders.
BTC-e only offers DSH/BTC and ETH/BTC at present, but it could expand its range to include the currencies it supports: Russian ruble, USD, the euro and Litecoin.
Dash, formerly known as DarkCoin, marked its second birthday in January with a stakeholder vote to double the block size to 2 MB. Evan Duffield, the chief architect and creator of Dash, shared his thoughts with Finance Magnates about this move at the time.
Also read: Crypto exchange BTC-e blocked by Russian regulator
Past Issues With Russia
BTC-e reported in January that users in the Russian Federation would not have access to its website following a ban imposed by a Russian regulator, CCN.com reported. A tweet mentioned a lock by Roskomnadzor, the Russian telecom regulator, which effectively put the domain btc-e.com in a blacklist not be accessible via Russian ISPs.
The messages came within a week after Bitstamp’s revelation that the Russian government was seeking to prohibit access to Bitstamp’s websites within the country’s borders.
BTC-e also suffered a distributed denial-of-service (DDoS) attack in January that lasted for several hours.
Featured image from Shutterstock.
