CEX.io is a UK-based cryptocurrency exchange with over one million users worldwide. With the new integration, Dash trading pairs have been added for USD, GBP and EUR, facilitating the buying of Dash directly for users around the world without having to first go through Bitcoin. According to Dash Core CEO Ryan Taylor, this addition is a particular achievement because of CEX.io’s selectivity:
“We are especially proud to see Dash added as the latest digital currency on CEX.IO’s platform, as they are very selective about the currencies they choose to add. For me, it further validates that Dash is now clearly among the few digital currencies that are relevant for consumers.”
CEX.io CEO Alex Lutskevych was impressed with Dash, particularly with InstantSend, which allows transactions to be confirmed instantly:
“It’s obvious that Dash matures fast. Most importantly, Dash’s InstantSend function is incredibly impressive; in my opinion it has already paved the way for and surpassed Bitcoin’s Lightning Network, which will allow for faster Bitcoin transactions to take place. Dash are true standard setters.”
New fiat gateways to simplify acquiring Dash
The addition of a new exchange assists in making Dash more independent from Bitcoin, and therefore more valuable, according to Lutskevych:
“The main deterrent of digital currency to typical investors is time and cost issues associated with access. To buy most digital currencies, people usually need to make a double exchange, for example; like fiat to bitcoin, and then bitcoin to Dash, and it can take an eternity for both transactions to settle. We have solved that dilemma. Greater access to Dash means more adoption, and more ways people can spend it on everyday goods and services or save it. More adoption means more popularity. And more popularity means more value.”
Most important in this ease of access is the ability to seamlessly buy Dash via credit card and bank transfer, which CEO.io offers. To be added in the future is a functionality to allow Dash to be easily bought in “bundles” of a certain fiat denomination via credit or debit card, making an easy buying option for customers not willing to go through the traditional trading experience.
Markets rebound after finding bottom over China exchange shutdown
The cryptocurrency markets have taken a recent tumble over news of Chinese regulators ordering a stop to trading on the country’s cryptocurrency exchanges, losing over $80 billion this month after an all-time high of $179 billion. However, on news that Chinese officials may allow two of the largest exchanges to remain operational for longer in order to properly complete the shutdown, the markets have since experienced a sharp rebound, growing from a low of $97 billion to $120 billion at time of writing, over the course of a few hours. For its part, Dash grew from a low of $220 to a present price of $280.