South Korea has become one of the most important centers of commerce for the adepts of digital currencies: it has surpassed China and Japan in recent months.
In the world of electronic currencies, getting the attention of as many users as possible is a high priority. That is why the exchanges are always competing with each other for a greater volume of operations, and an effective way to attract new adepts is through the incorporation of additional crypto actives … that is precisely what Bithumb has done since those responsible for the platform have made their plans to support Zcash. An interesting move – especially if we take into account that the company is quite selective when it comes to adding new currencies to its ecosystem – which can lead to positive results for ZEC holders.
Currently, Bithumb has the characteristics to be considered as the largest operator of change in South Korea, because thanks to its fees of 0% the company has won a very positive reception; Bitcoin Cash and Monero are other recent additions, but it will be interesting to see how the price of Zcash behaves in the coming days. At the time of writing this article, according to CoinMarketCap data, the cost of each ZEC is $ 271.51 … It is worth noting that recently Edward Snowden went to his Twitter account to express that, in his opinion, Zcash is the interesting alternative of Bitcoin.
Bithumb has an unusual way of generating liquidity for its newly added currencies. By incorporating Zcash, those responsible for the ecosystem allowed the deposits before the trading and until October 1 all counted on a return of 1% – the rewards will be paid on October 13. However, it is already possible to trade.
For the Zcash team, this incorporation will be very significant in the long term. It is good to see that Bithumb pays attention to other crypto-currencies since these days it is not possible to have enough fiat money to change it and less in Asia since the digital currency industry is booming in that continent. It remains to be seen if this move will bring much liquidity from Zcash, although rumors exist that indicate that one of the employees of the house of change leaked the movement of the same, reason why numerous investors could have manipulated the price of Zcash – the last increment was 40% -; despite that, for now, they are just that, rumors.
Eduardo Gómez is a Venezuelan freelance writer and Information’s Technology Professional. He discovered Bitcoin in 2012 and has been drawn to it ever since. He also works as a Customer Support Agent at the San Francisco-based Bitcoin startup Purse.io