News by Cointelegraph: Connor Blenkinsop
A crypto exchange that claims it has amassed more than 2 million registered users in the space of four months has released new apps for Android and Apple smartphones.
As well as supporting transactions in a multitude of cryptocurrencies, Bitsdaq says its app offers real-time updates on movements in the markets — and enables users to make withdrawals and deposits quickly. The software is currently available in English, simplified Chinese and traditional Chinese.
With the crypto exchange market growing increasingly congested, Bitsdaq says many platforms have been suffering from poor levels of platform security, inefficient liquidity, disappointing customer service and low internationalization — putting consumers at risk of losing their hard-earned assets.
The company has the aspiration of becoming the best exchange in the pan-Asian region, boasting features including margin trading, futures, spot trading and anonymous instant exchange. Bitsdaq notes it “has hundreds of coins listed now.”
According to the team, it has a thriving community of more than 100,000 on Telegram — and the exchange claims that the web traffic it receives is healthy, too. It cites SimilarWeb data suggesting that its service attracts 11.4 million monthly visits — putting it in third place compared with Binance and Coinbase.
Partnerships and launches
In recent weeks, Bitsdaq has unveiled a series of strategic partnerships designed to expand the ways its community can use their cryptocurrencies. One such development came in May, when the exchange struck an agreement with Spend.com. The alliance means that Bitsdaq users can now acquire a virtual Visa card that enables them to spend their crypto at millions of destinations worldwide, including anywhere where Google Pay and Apple Pay are accepted.
Ricky Ng, the founder and CEO of Bitsdaq, said at the time, “This partnership will combine the strengths of Bitsdaq’s exchange infrastructure including user resource, cutting edge tech on blockchain and industrial scale production capacity worldwide, especially in Asia.”
Another strategic partnership saw Bitsdaq receive investment from the United States-based Consensus FinTech Group. The company believes that this tie-up will “create a major competitive advantage in the market” and unlock new opportunities for investors, entrepreneurs and developers alike — representing another milestone in its goal to enhance liquidity and make the cryptocurrency ecosystem more mature.
Moreover, at the beginning of May, the team established a strategic partnership with NGC, a Shanghai- and Singapore-based for-profit licensed fund management company.
At the same time, Bitsdaq was listed on the Chinese currency market and information platform MyToken.
Helping crypto startups
This all comes as Bitsdaq prepares for the first project to debut on its Launchpad service. Known as BQQQ, the company’s native token will serve as a trading pair against other cryptocurrencies, the team says. The company claims BQQQ will become “one of the vital cryptocurrencies for initial exchange offerings (IEOs) of small and medium-sized blockchain startups” — adding that those who hold this token will get priority access when new projects launch. The team notes that users will be able to subscribe to the BQQQ IEO on Bitsdaq Launchpad from June 9 to June 11.
According to Bitsdaq, Launchpad has already attracted significant levels of attention in the marketplace, with “hundreds of projects” reportedly applying for the opportunity to hold their IEO on the platform.
Setting out its vision in a recent white paper, Bitsdaq said, “We aim to be the pioneer that’s leading the blockchain industry to the next generation with our well-rounded IEO service platform.”
Ricky Ng, who founded Bitsdaq last year, is a serial entrepreneur who co-founded a digital advertising company listed on America’s Nasdaq exchange. He is also the chairman and founder of i-House.com, billed as one of the first blockchain real estate platforms in the world.