Blockchain, one of the most known cryptocurrency wallets in the market will offer a service to buy and sell cryptocurrencies in the United States. The company located in the United Kingdom allows British investors to buy different digital coins. In the United States it will challenge Coinbase, one of the most famous cryptocurrency platforms in the world.
Coinbase Competitor
The company has announced that since Thursday it will allow US users to sell their bitcoin. The buying option will be available in the coming weeks. During the last months, different cryptocurrency exchanges have been experiencing problems with their platforms. There was a lack of liquidity, the customer support is practically inexistent, and the buy and sell services tend to have outages.
Peter Smith, Chief Executive Officer of Blockchain commented:
“If we are prioritizing short-term gains, we would prioritize buy – that is what most people have done. But it is really time to make sure we nail that expertise.”
About bitcoin, he said that this year Bitcoin dominance will decline in favour of other cryptocurrencies that offer different interesting attributes. It is important to mark that Bitcoin dominance fall from around 85% one year ago to 32% now.
According to Blockchain’s website, the company has more than 22 million wallets of which 1 million are active daily. Besides that, it has processed more than 100 million transactions. Between 30 and 40 percent of Blockchain users are in the United States, making of it one of the most important markets for the company.
Coinbase, has been adding new users at incredibly high rates, and according to its website, it has over 10 million users. Coinbase offers the possibility to buy and sell Bitcoin, Ethereum, Litecoin and the recently and controversially added Bitcoin Cash.
Whether Blockchain will be a viable option to challenge Coinbase market is yet to be seen. But it is important to remark that with more enterprises competing for the same market, products and services tend to be better. Furthermore, the market will have an increased liquidity.