There is a lot more to cryptocurrency than just Bitcoin and Ethereum. With alternative currencies making a positive impact on this industry, trading platforms will need to pay attention to what consumers want to trade. It seems users of the London Block Exchange are mainly interested in Bitcoin Cash and Ethereum Classic. Both trading markets have been added to the platform, and both currencies can be traded against the Pound Sterling.
A Major Move by the London Block Exchange
Trading cryptocurrency against the Pound Sterling is not as easy as it should be. Although British exchanges still offer this functionality, it seems most international trading platforms removed this option quite some time ago. Coinbase still offers this functionality as of right now, although it would be nice to see more platforms enable GBP trading again in the future.
Until that happens, it is up to British exchanges to make a positive impact in this regard. While the London Block Exchange may not be the biggest cryptocurrency exchange out there, it is the country’s only dedicated multi-cryptocurrency exchange, with a total of six supported currencies. It is not the largest list of currencies, but things are definitely heading in the right direction.
With the addition of both Bitcoin Cash and Ethereum Classic, the London Block Exchange seems to be further solidifying its position in the market. They are the only exchange to support GBP-based trading for both currencies, although that situation will likely not last long. Bitcoin Cash is gaining a lot of traction all over the world, and it seems safe to assume other British trading platforms will start paying attention to BCH as well.
LBX Founder and CEO Benjamin Dives commented:
Since launching, we’ve proven incredibly popular among UK crypto-enthusiasts, given our low cost trading and excellent app. We’re now strengthening the fact [that] we offer more coins than most popular exchanges and are listening to the community in deciding which coins we will list.
Considering that this company mainly focuses on OTC trading, it is not surprising that its popularity is rising. Consumers all over the world are flocking to OTC trading platforms as we speak, and moving away from centralized trading platforms. The London Block Exchange offers a mobile application to perform OTC trades and maintains very strict KYC and AML guidelines.
It will be interesting to see how all of these developments pan out. Altcoins are making their mark on the cryptocurrency industry as we speak, yet a lot of things can still change in the months and years to come. Fiat currency-based trading has been popular for quite some time now and will seemingly continue to remain the most profitable venture for any trading firm. Especially where GBP trading is concerned, more competition can only be considered a good thing at this stage.
