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.
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.
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Last modified: March 4, 2021 4:48 PM