Netherlands-based Blockport has launched a new decentralized crypto exchange aimed at beginners, with a social function to allow them to follow and learn from trading experts.
According to a press release Thursday, Blockport currently offers users access to trading in five cryptocurrencies against the Euro – Ethereum, Bitcoin, Bitcoin Cash, Litecoin and Ripple.
The company also said it intends to enter the US market amid high demand for an alternative to Coinbase. Blockport says 20 percent of its half million traders are already located there.
Other new features will be added over the next few months, including USD pairs, social trading functions and more cryptocurrencies, it said.
Citing studies by Blockchain Capital and Finder, Blockport Founder and Chief of Products, Sebastiaan Lichter said people not trading in the US are put off because they feel it’s too hard to understand, without a user-friendly solution.
“We launched Blockport based on a vision that everyone should be able to join the new digital economy that has developed along with the emergence of cryptocurrencies,” he said in the statement. “Participation should be secure and transparent. By launching our platform, we are making every effort to give crypto-traders in the US access to the new digital economy. They should also be able to benefit from the opportunities that cryptocurrencies offer.”
Blockport said its users always have access to their own private keys, so can manage their accounts without any centralized dependence. The platform also offers a knowledge bank and an interactive forum to provide practical and educational information for users, including a function to follow more experienced traders and automatically mimic their trading activities. To use that option, users pay /BPTtokens, available on KuCoin exchange to the traders they follow and copy. In turn, the advanced traders can use these tokens to purchase discounts and other benefits.