Roger Ver may launch a cryptocurrency exchange using BCH as its base currency. Ver is a Bitcoin Cash (BCH) evangelist and the owner of Bitcoin.com. Most exchanges use Bitcoin (BTC) as its base currency. We’ve had a lot of news coming out about exchanges, from Binance’s DEX to Bithumb’s DEX. We’re very optimistic for the future of cryptocurrency!
The controversial Bitcoin Cash promoter, once known as “Bitcoin Jesus” for his early advocacy for cryptocurrency in the years before last year’s BTC/BCH split, told Bloomberg that, if his company wanted to, they could build an exchange for “really, really cheap.”
“If we build it ourselves, we can do it really, really cheap, and we get exactly what we want,” Roger Ver remarked. “But we don’t have the security of a battle-tested exchange that’s been around for a while.”
Roger Ver’s plans for a cryptocurrency exchange based on BCH is still in the early stages. Ver has not decided whether or not he would build the exchange internally from the ground up or acquire a platform that is already up and running.
Regardless of the origins of the exchange, Roger Ver said that the exchange would be hosted at Bitcoin.com, which already operates a mining pool and a cryptocurrency wallet that supports both BTC and BCH. Last November, Bitcoin.com sparked fierce criticism by quietly updating the Bitcoin.com wallet’s default to Bitcoin Cash rather than Bitcoin. This move was heavily criticized due to the potential of confusing new cryptocurrency users who could stumble upon the website while searching “bitcoin” on Google.
Ver alleged that hosting the exchange at Bitcoin.com would provide the platform with “instant liquidity” due to the immense popularity of the website. But it’s not yet clear as to how enthusiastic users will be to use BCH as the base currency, especially since it’s a rarity on other exchanges, including Binance.
According to CoinMarketCap, one of the leading authorities of cryptocurrencies by market-cap, CoinEx is the only major exchange that offers liquid markets in BCH. Its volume is not seen as reliable, however, due to its reliance on a transaction fee mining model for operational cost. Therefore, volume should not be seen as indicative of trader interest for particular markets or trading pairs.
As of writing this article, BCH is at $510.49 per coin, with a marketcap of $8,879,874,254, putting BCH in fourth of the largest marketcap of cryptocurrencies. Bitcoin, the most liquid cryptocurrency, has a 24 volume of $3,753,620,813.
Would you use Roger Ver’s cryptocurrency exchange? Do you currently use BCH for everyday purchases? What do you think? Let us know what you think on our Facebook page, and while you’re at it, why don’t you take a listen to our podcast and browse through our latest blog 13 ways to earn cryptocurrency? We cover BCH!
