From now on, the ShortHop cryptocurrency exchange operates in seven more states of the US. It will allow customers to use various platforms' wallets through a single point of contact.
Exchange for exchanges
Thanks to its abilities, ShortHop is called "exchange for exchanges". The states in which the platform will launch are: Indiana, Massachusetts, Nevada, New Jersey, Rhode Island, Arizona and Montana. So far, the Delaware Exchange has operated in California, Washington and Illinois.
The ShortHop management company, Velocity Markets, had to purchase special licenses in every state in which it wanted the exchange to operate. The platform is undeniably useful because it makes it possible to organize all transactions from different exchanges in one place.
You might find that when you go on Binance, the spot price for bitcoin is the quoted price.When you go on Gemini it’s the quoted price there as well. We’ll use that in aggregate to get the best price across the ecosystem. [...] ShortHop is a spot market first, but we’re aggregating liquidity across the ecosystem.
- explains Velocity Markets CEO Jonathan Kelfer.
What can you buy?
Various cryptocurrencies can be purchased at ShortHop now. These are Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Stellar and XRP. The platform enables a quick exchange between these coins in order to avoid unnecessary confusion with processing on many other exchanges.
Jonathan Kelfer claims that the exchange does not charge any transaction fees, and even gives a $25 bonus (in Btc) to clients who set up an account there. The company's plans also include a special plug-in that is supposed to be posted on the websites of various institutions.