Adoption of XRP [XRP] has begun in exchanges, as Bitrue, a Taiwanese exchange, recently announced that they will be launching their services with XRP as a base pair for currencies offered on the platform. While many exchanges with Bitcoin [BTC] and Ethereum [ETH] as base pairs exist, the addition of the third largest cryptocurrency as a base pair has been lacking.
Bitrue aims to provide transparency to the Initial Coin Offering [ICO] market by providing a “professional selection of ICOs”. Notably, the exchange is also partnered with Wanchain, an infrastructure that connects various digital assets. The CEO of Bitrue, Curis Wang, stated:
“Bitrue is committed to list only legitimate and promising tokens on our platform. With our professional process and team for currency selection, Bitrue is able to screen candidates and build a healthy environment for trading.”
In a trading pair, the base is the currency using which users can buy other cryptocurrencies. In this scenario, users are able to buy currencies on the platform using their reserves of XRP. Prices will be calculated against the price of XRP for a crypto-to-crypto trading experience.
This feature is targeted purely towards XRP holders and enthusiasts, as Bitrue has announced a bonus offer for XRP traders. There are over 40 different cryptocurrencies available for trading, from the mainstays such as Bitcoin, Ethereum and USD Tether [USDT], to newer offerings such as Basic Attention Token [BAT], 0x [ZRX] and Zilliqa [ZIL].
The exchange aims to provide users with a secure experience, as mentioned by the CEO in the announcement regarding their launch. He stated:
“Bitrue has made transaction safety the core element of its products, as more than 90% of user assets in its system are stored in cold wallets and critical messages are located in distributed storage systems with multiple clusters. The exchange has even created an internal risk control model with four certification levels, a multi-layer trading infrastructure, an independent trading domain and real-time monitoring capabilities.”
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