Cryptocurrency traders come from across a wide range of age groups. From teenagers to older and seasoned traders are drawn to the promise of earning big rewards in a short span of time. To enable traders to practice this concept on a trusted cryptocurrency exchange platform, the leading global crypto trade exchange, PayBito has added another major cryptocurrency to its coin list – Ethereum Classic.
A brief background of Ethereum Classic:
Although Ethereum Classic (ETC) operates on the same protocol as Ether (ETH) and executes a similar function, it does have its unique traits. Much like other altcoins, ETC derives its value from the speculator market. Use of case scenarios and community support are the other two factors that have thrust it in the limelight. Its market cap at the moment is $782 M.
What makes ETC eligible to be listed on PayBito?
PayBito follows strict guidelines to choose a utility coin for listing on the exchange. When compared to those, Ethereum Classic ticks all the boxes. The guidelines uphold certain core principles which can be understood as follows:
- The utility token should have true value addition potential, should be able to resolve or simplify existing problems, and create value for network participants.
- Proof that the technology works – The engineering and product quality can be gauged by the existence of a working alpha or beta product on a test net or main net. A verified documented peer-review and testing by contributors separate from the initial development team further strengthen this conviction.
- The coin should have a team of efficient engineers, architects, and business planners with strong track records behind it.
- The Consensus mechanism and future revenue generation system – The coin should have a convincing process to process definition for implementation of major code updates or voting process for conflict resolution. It should be backed by a business plan that can draw in funds beyond that which was raised from an ICO or from traditional investors.
- The coin should provide details of its potential scalability, clear milestones setups, and operating expenses.
- It should have favorable Market Distribution analysis – This includes data on Market Capitalization, Asset Velocity, Circulation, and details on where the asset would be available for trade.
- It should have favorable Market Demand – This includes demand from customers, developers and contributors, and external stakeholders.
- The blockchain network of the coin should meet certain set standards regarding changes in market capitalization, nodes, and transaction fees.
- Compliance to regulations is another area that PayBito makes a priority when listing a coin.
- HashCash also looks for a comprehensive white paper that would contain the above information.
A quick overview of PayBito:
Cryptocurrency trade is a head-turner in the financial space because of its similarity in dynamics to the traditional equities. PayBito’s practical User Interface is easy to navigate and provides quick access to a number of features on the exchange. It supports USD deposit and withdrawals and leading cryptocurrencies including Bitcoin, Bitcoin cash, Litecoin, Ethereum, Ethereum Classic, Bitcoin SV, HCX, several ERC20 tokens, and their trading pairs. The 24 hr trading volume on PayBito at the time of writing this article is 6.2 million.
PayBito is a feature-rich global cryptocurrency trading platform. It claims to have implemented features similar to the security protocols in leading banks to prevent hacks (3-point architecture, a multi-signature cold wallet, and an encrypted hot wallet). There is a thorough underwriting process to pass any token listed on the platform.
Speaking on the production of cryptocurrency exchange platforms built similar to PayBito, Raj Chowdhury, MD of HashCash Consultants, says,
“HashCash is probably the only player in the market that runs a Cryptocurrency exchange at a large scale and offers the same software to other clients who are interested in running their own cryptocurrency exchange.”
HashCash Consultants – the parent company of PayBito – is a known name in the financial circle for its expertise in blockchain based banking solutions. PayBito has been instrumental in providing an authentic opportunity to enterprises with tokenized services to trade on a global exchange, alongside other thoroughly vetted cryptocurrencies.
About HashCash Consultants:
HashCash Consultants started as a Blockchain Consulting Company in California. Today, HashCash products enable enterprises to move assets and settle payments across borders in real-time using HashCash Blockchain network, HC NET. Financial Institutions use HC NET for Retail Remittances, Corporate Payments, Trade Finance, and Payment Processing. HashCash also runs the US-based cryptocurrency exchange, PayBito and the leading Cryptocurrency payment processor, BillBitcoins.
HashCash offers cryptocurrency exchange and payment processor white label solutions, comprehensive ICO services and customized use case design and development. HashCash propels advancement in the field of blockchain through the Blockchain1o1 program and its investment arm Satoshi Angels.
Source: markets.businessinsider.com/news/stocks/paybito-adds-another-prominent-cryptocurrency-to-its-arsenal-ethereum-classic-1028113238
