The Rise of EDX Markets: A Game-Changer for Crypto Adoption
The recent crypto bull market should have been a time of widespread adoption of cryptocurrencies, especially by traditional financial institutions. However, many traditional parties still avoided the market, but this is slowly changing. Several financial giants have recently announced their entrance into the market with a new trading platform.
New Cryptocurrency Exchange: EDX Markets
The platform making waves in the crypto market is called EDX Markets, and it is backed by American stock market giants such as Charles Schwab, Citadel, Fidelity, and Sequoia. At the moment, EDX markets allow trading of four cryptocurrencies: Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Bitcoin Cash (BCH).
Note: The quotes and elements in other languages have been translated from the original text to ensure clarity for English readers.
A Different Approach
What sets EDX Markets apart is its distinctive approach compared to other well-known crypto exchanges. EDX Markets is a “non-custodial” platform, meaning it does not store customer tokens itself. Unlike platforms like Binance and Coinbase, which act as the custodian, EDX Markets relies on a separate custodian to prevent conflicts of interest.
It is yet to be determined who will serve as the custodian for EDX Markets, but this unique approach could pave the way for increased trust and transparency within the crypto space.
Availability and Account Opening
While trading is currently unavailable on EDX Markets, the platform encourages interested parties to reach out to open an account. This suggests that initially, the platform may focus on institutional clients. However, there is a possibility that retail investors will be able to place orders in the future.
Rise in Bitcoin Price
The announcement of EDX Markets has had a significant impact on the price of Bitcoin. Shortly after the news broke, the price of Bitcoin and other cryptocurrencies experienced a sharp increase. At the time of writing, the Bitcoin price has risen by 5% compared to its local bottom, with Litecoin being the strongest performer at a 6% increase.
With such rapid price increases, it’s natural for individuals to wonder if it’s too late to invest. However, Crypto Insiders, in collaboration with Bitvavo, the largest crypto exchange in the Netherlands, offers the opportunity for readers to take their first step into crypto for free.
By signing up for Bitvavo through a specific link, readers can receive €20 worth of crypto of their choice for free. Additionally, the advantage of zero trading costs on the first €10,000 in transactions further enhances the appeal.
The entry of EDX Markets into the crypto market marks a significant milestone for crypto adoption by traditional financial institutions. Its non-custodial approach and backing from major financial players provide a sense of legitimacy and trustworthiness for investors. While trading is not yet available, the market has already shown a positive response, with the price of Bitcoin and other cryptocurrencies experiencing a notable increase.
As the crypto market continues to evolve, it is evident that traditional institutions are gradually embracing the opportunities presented by cryptocurrencies. This trend bodes well for the future of crypto adoption and the overall growth of the market as a whole.