Bitcoin Global News (BGN)
July 26, 2018 -- ADVFN Crypto NewsWire -- Something’s coming
on the horizon for Crypto land and it’s not Binance’s decentralized
exchange.
With criticisms of
Coinbase based on their slow verification process as well
as their apparent lack of customer service, it would seem that a
competitor could quite simply take a piece of what was
their $1 billion pie in the last
year.
Voyager is an existing
Blockchain business which plans to try to take advantage of this
opportunity, by launching a mobile app at the end of this year that
aims to be better than Coinbase.
Their professed differentiator will
be the fact that they plan to have no fees, at all, across their
entire app. By contrast, Coinbase charges various
fees including per conversion from Crypto to fiat and back
as well as for any transactions under $200.
One can reasonably extrapolate that
this is their major source of revenue, which last year, ended up
being $1 billion, as already mentioned above.
Because one of the biggest issues
in the Blockchain space is that there are simply too many exchanges
to choose from, Voyager also hopes to become the one stop shop for
each crypto investor to manage his or her assets, across
platforms.
With this in mind, it does seem
that Voyager will be trying to be Coinbase as well as something
like a bridge between existing exchanges, all at the same
time.
If this is all true, then the idea
that on top of this, Voyager plans to use a well-known
technological framework called smart order routing, may truly help it to rise
above the industry giants.
If you’re not yet entirely clear on
what smart order routing is, it is reportedly a reliable way to
increase the efficiency of buy and sell orders on a digital asset
exchange or stock exchange, which of course, also applies to Crypto
exchanges.
At this point, all that remains is
for Voyager to be tested on the open market, which will not likely
happen until the winter of this year, when it rolls out to five US states.
Over time, it hopes to slowly growing towards offering its services
in around 40 US states, overall.
Given that Coinbase reportedly has
more users than Charles Schwab, which includes a 148% increase in
their user base in one year, all of this will not be
easy.
Any chance of success for Voyager
will hinge on their ability to market themselves as something
different and better than the known alternatives, while still
maintaining their zero-fee model.
By: BGN Editorial Staff
News:
Voyager Cryptocurrency
Exchange
Cryptocurrencies
Binance
(BNB)
Coinbase