Bitcoin.Com Launches Crypto Exchange Amidst Crypto Community Backlash

Published by
Bitcoin.Com Launches Crypto Exchange Amidst Crypto Community Backlash

Bitcoin.com, a leading news portal which relays information about Bitcoin Cash and Bitcoin, launched its new crypto exchange to the audiences today in the midst of the severe backlash that ex-CEO Roger Ver received on a Twitter post comparing the exchange to MtGox. 

Advertisement

Exchange Offering Negative Trading Fees

To enthral traders on the platform, the exchange is offering “negative 0.3 percent trading fees,” a feature with which feature traders can earn money back on all their transactions. Furthermore, pre-registered traders will get a 25% off on future transaction fees.

The new exchange will cover several base trading pairs consisting of Bitcoin (BTC), Ethereum (ETH), bitcoin cash (BCH) and Tether (USDT). Other coins to be listed on the launch include Ripple (XRP), Litecoin (LTC), EOS (EOS), Tron (TRX), Stellar (XLM), Dash and Zcash (ZEC).
Purportedly, the exchange seeks to establish a firm ground and compete with the established exchanges such as Binance and Coinbase. The exchange will offer high-end security features, cold storage options, institutional-grade encryption, and two-factor authentication.

Danish Chaudhry, managing director of the exchange, expressed his enthusiasm and said,

“We’ve had a great reception from the community already with over 11,000 pre-registers. Crypto is all about accessibility to the financial system. We’ve been on a mission to make crypto usable for all. The negative 0.3 percent fee process will encourage newcomers to “get paid to trade.

Moreover, the promotion is valid up to $ 1 Billion worth of cumulative traders on the exchange. Also, the promotional period will last till December 2, 2019.

Advertisement

Exchange Faces Backlash from Crypto Community

The current version of the site was launched by Roger Ver in June, 2015. Recently, Roger Ver became the victim of numerous trolls. The crypto community took several turns to mock the upcoming exchange and said that the exchange will have the same plight as Mt Gox.
The latter is a failed Japanese Bitcoin exchange which went bankrupt in 2014. It was one of the world’s largest crypto exchange. However, it gained infamy on the account of 850,000 Bitcoins being stolen from its wallet.

Furthermore, just a day after announcing the launch of the new exchange, Roger Ver stepped down from the CEO position of Bitcoin.com. He then revealed Stefan Rust will be the new Chief Executive Officer. This led to further skepticism about Ver’s exchange.

While a part of the crypto community left no stones unturned to bash Roger Ver, few users were positive about the update.

‘I just love what @rogerkver does for space! I am not just a bitcoin disciple but I stand for all true cryptos’

The Slow and Steady Growth Factor

Bitcoin.com has slowly been expanding its services beyond being a news and information site. In August 2017, it launched a mobile wallet for Bitcoin(BTC) and Bitcoin Cash(BCH). As per claims, the wallet has been downloaded more than 2 million times.

Advertisement

Share
Supriya Saxena

Coming from a physics background the unpredictability and intrigue of the cryptoverse attracted me to take a dive in this field. I am all eyes and ears for the latest trends in blockchain and crypto sphere. Whenever I am not writing or researching, I love to read sci-fi novels, play basketball and watch action movies. I strongly believe that blockchain and cryptocurrency will bring lasting transformations in people’s lives in the years to come. You can reach out to me at supriya [at] coingape.com.

Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • 24/7 Cryptocurrency News

October Fed Rate Cut Odds Rise After Weak U.S. Labor Data, Bitcoin Surges

U.S. private payrolls unexpectedly fell in September, raising market bets that the Federal Reserve will…

October 1, 2025
  • 24/7 Cryptocurrency News

Hashdex Adds Cardano to Crypto Index Fund as ADA Gains SEC Listing Eligibility

Asset manager Hashdex has officially included Cardano in its Nasdaq Crypto Index U.S. ETF. This…

October 1, 2025
  • Bitcoin News

U.S. Treasury To Ease Tax Rule on Unrealized Bitcoin Gains, Aiding Saylor’s Strategy

The U.S. Treasury and IRS have released an interim guidance, which highlights plans to ease…

October 1, 2025
  • 24/7 Cryptocurrency News

Trump-Backed World Liberty (WLFI) Plans RWA Tokenization Paired with USD1 Stablecoin

Trump Family's World Liberty Financial has unveiled big real-world asset (RWA) tokenization plans on Wednesday,…

October 1, 2025
  • 24/7 Cryptocurrency News

Stripe Eyes U.S. Banking Charter, Pioneers One-Click Stablecoin Issuance for Firms

Fintech giant Stripe has unveiled a suite of tools to enable businesses to tap into…

October 1, 2025
  • 24/7 Cryptocurrency News

Breaking: Metaplanet Expands Treasury With 5,268 BTC Purchase, Climbs to 4th Largest Holder

Metaplanet has expanded its Bitcoin portfolio with another purchase. The Tokyo-listed firm is now the…

October 1, 2025