Cryptocurrency Exchange CoinMKT Announces US Banking Partner

Published on by Coindesk | Published on

As a result, the company is now able to accept bank wires from US bank accounts.

Not many exchanges currently have the ability to accept banking wires, and the ones that do have experienced massive user expansion.

Exchanges that have the ability to link directly to the US dollar via a banking institution are more attractive to investors.

The company is also announcing the addition of three more altcoins to its exchange: Megacoin, Worldcoin and Quark Coin.

Terracoin, which CoinMKT is now referring to as "Problem plagued", is being removed.

As a result, CoinMKT users can now trade between USD and nine cryptocurrencies in total.

In his abstract, he writes that his research found "The exchange maker-taker pricing scheme affects incentives to take or make markets resulting in narrower bid-ask spreads".

The more narrow the spread is, the more liquidity that exists in an exchange as buyers and sellers are closer to bid and ask amounts.

That's good for cryptocurrency trading, since there's a general lack of that attribute in many exchanges.

CoinMKT's new maker-taker commission structure means that the taker is charged 0.75%. CoinMKT then takes 0.5% as part of its fee, and the the maker is rewarded 0.25%. Maker-taker aside, the US banking partnership is clearly the most significant of the company's announcements.