News

New Korean exchange will launch tomorrow

Tomorrow, on May 11, the Coinbit exchange will open, while listing 50 of the hottest digital assets this spring, as well as already established ones like Litecoin (LTC).

Korean trading is seen as extremely important for the crypto ecosystem. High-volume exchanges still have fiat pairings against the Korean Won, and give an entirely different risk profile to many assets. The Korean markets have also served as price discovery mechanism and a source of liquidity for many of the prominent ICOs, ensuring fast listing and active trading.

The Coinbit exchange offers a month of zero fees to encourage trading, and afterwards would offer fees of 0,05%. The exchange still has most of its service pages in Korean.

In the first round of listings, Coinbit will add Bitcoin (BTC), Bitcoin Cash (BCH), Litecoin (LTC), Ripple (XRP) and Ethereum (ETH) together with Ethereum Classic (ETC). There are 50 markets in total.