Financial institutions all over the world are suddenly paying a lot more attention to Bitcoin. That is not entirely surprising, as the world’s leading cryptocurrency is not going anywhere anytime soon. A subsidiary of Boerse Stuttgart is now getting involved in the world of cryptocurrency trading. It’s an interesting development which will expose a lot more consumers to Bitcoin and other cryptocurrencies.
Boerse Stuttgart is on the Right Track
It is evident that consumers all over the world want to get involved in cryptocurrency. However, doing so remains somewhat problematic. The most obvious method involves the use of centralized trading platforms, which require users to go through a lengthy verification procedure and offer very few convenient payment options. It is far from an ideal scenario for novice cryptocurrency enthusiasts; that much is evident.
Boerse Stuttgart has been looking at ways to facilitate this process. More specifically, its Sowa Labs subsidiary has come up with a new mobile application which goes by the name of BISON. This particular application will provide users with access to free and uncomplicated cryptocurrency trading. Traders will have an easy time getting involved in this booming industry and should be able to start trading a lot quicker than they would using centralized exchanges.
It will also be the first cryptocurrency application in the world to have a traditional stock exchange behind it. Although Boerse Stuttgart is a platform which most people have heard of at some point, it is not necessarily a household name either. Even so, the German company acknowledges that cryptocurrencies are here to stay, and things will only improve from here on out.
Sowa Labs’ Managing Director Dr. Ulli Spankowski commented:
With BISON, also registering and providing proof of identity is less complicated. Previously, opening a user account normally took several days, but with BISON, activation for trading only takes a few minutes. There is no need for crypto wallets, and BISON does not charge any trading fees. Users can trade cryptocurrencies free of charge with the app.
By allowing individuals to trade cryptocurrencies free of charge, BISON is on to something. Few trading platforms in the Western world actually provide fee-free trading access these days. It is a rather common business practice in the Eastern world, with Japanese and Korean trading platforms regularly offering 0% fees on trading. The BISON app can certainly make an interesting impact in this regard.
There is also a place for artificial intelligence in the BISON application. More specifically, its Cryptoradar feature uses AI to filter news in social media. It also provides a real-time view of the market, as well as information on which cryptocurrencies are being actively discussed. It will be interesting to see how this particular venture pans out, as the application will not be released until this autumn.