With ProBit’s new announcement, Korean cryptocurrency buyers can now conveniently purchase exchange tokens with fiat.
ProBit Exchange is listing 6 exchange tokens against the Korean Won (KRW) in a single day. According to the announcement, the listings are in celebration of ProBit Exchange’s ascension as a Top 30 global exchange in terms of real users’ web traffic.
This listing bonanza brings the total number of exchange tokens on ProBit Exchange to 7 tokens including LEO, HT, OKB, BTMX, KCS, BNB, and PROB tokens. Interestingly, LEO and PROB are the only non-Chinese exchanges.
Ronald Chan, Listing Director of ProBit, stated that they are listing competitor’s tokens to celebrate ProBit Exchange joining the ranks of the “Big Boys Club”. He noted that most of the exchange tokens do not have access to a highly coveted Korean Won pairing. “It is an initiation gift from ProBit” he shared.
With the introduction of these Korean Won markets, Korean users looking to make exchange plays in the cryptoverse will now find it easier to conduct their trades in a single exchange rather than having to create multiple accounts and deposit into several platforms.
Exchange tokens have been very lucrative for early purchasers. According to Coingecko, Huobi Token (HT) has an ROI of 320% since inception. BNB tokens have given even higher returns.
The cementing of ProBit Exchange as one of the top 30 real users’ web traffic exchanges could partially be attributed to its successes in conducting IEO. Upon investigation, the exchange has completed almost 100 rounds of IEO this year. Each IEO looks to be completely customized, which may have been integral in pulling users to the exchange.
A study of Coinmarketcap showed that ProBit Exchange has trading volumes hovering around the 60th position. When questioned, Ronald Chan stated that Coinmarketcap is no longer a reliable indicator of sizes of exchanges, remarking that it is “very suspicious that more than 90% of the Top 30 exchanges have Chinese co-founders”. ProBit Exchange operates in Korea and is helmed by its two Korean co-founders.
Deposits of the exchange tokens have already been opened at 12:00 KST with trading kicking off on September 5, 2019, at 15:00 KST.
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Last modified (UTC): August 29, 2019 8:12 AM