CoinMaster, the bitcoin-focused cryptocurrency trading platform, has announced a new feature that allows users to trade coins directly with one another.
CoinMaster’s new coin trade tool lets users trade a digital asset like gold, silver, or platinum for another digital asset such as bitcoin.
Coinmaster CEO and co-founder Matthew Green said that the new feature is designed to allow users to easily trade coins without worrying about the inherent risks associated with trading bitcoin.
“The coin trade feature makes it possible for us to make the most out of the tremendous potential in the cryptocurrency space,” Green told CoinDesk.
“It also allows for the best possible return from our users, without compromising the security of our system.”
CoinMaster has been around for nearly three years, but Green said the service’s launch is the result of the “huge success” of bitcoin.
Green said that CoinMaster is the first bitcoin exchange to offer a coin trade, and it will offer the feature to other cryptocurrency exchanges in the future.
“We believe it is an exciting way to make money from the cryptocurrency market, which is booming,” Green said.
CoinMaster launched in August 2016 and has since grown to offer nearly 30,000 users across the US, Europe, and Asia.
Coinmaster’s new feature will be available to all users who want to trade cryptocurrency directly with each other, including those who have not yet invested in a bitcoin exchange.
The company’s coin trade features include an exchange price calculator, a daily exchange rate calculator, an ongoing coin market cap calculator, and a daily trading history that allows investors to see how much coins they own and where they trade them.
Coin Master is a separate platform that allows customers to trade with other CoinMaster users and other crypto currency users, and CoinMaster CEO Green said CoinMaster will eventually allow users who have no bitcoin trading experience to buy coins with coins that they trade.
“There is a huge opportunity for those who don’t have a bitcoin trading background,” Green added.
CoinMarkets, a platform that Green founded, also announced the launch of CoinMaster on Tuesday.
CoinMarkets will launch a similar coin trading feature in 2018, but CoinMarkts features will be more focused on making money from its platform.
CoinMarketCap, a blockchain analytics company that Green co-founded, also added CoinMaster to its portfolio of companies it’s investing in.
CoinMarketCap previously raised a seed round from Sequoia Capital.
CoinMiner, another blockchain analytics startup, also recently announced it is joining CoinMaster.
“CoinMaster is a fantastic addition to CoinMarket’s portfolio of startups, as it brings to the market a platform for trading digital assets,” CoinMiners founder and CEO Ben Shirey told CoinMarketCapital.
“We believe CoinMaster can be a valuable and valuable asset to our industry.”
Green noted that CoinMillion is currently the only bitcoin exchange in the world that can offer coin trades.
The startup recently partnered with Coinbase to allow its customers to buy and sell bitcoins with fiat currency.
CoinMillion said that its coin trade system is already being used by some investors to invest in bitcoin, which the company says could lead to higher levels of bitcoin price volatility in the near future.
“As we move toward more widespread adoption of bitcoin and crypto, we are excited to see CoinMillions coin trade option grow to be one of the more active exchanges for this market,” Green wrote.
Green told CoinNews that CoinMarketMillion’s coin trades will be able to trade for “tens of thousands of dollars” and that its system is “completely automated”.