Investors now have a new tool to help bridge the segregated world of cryptocurrency exchanges.
With CoinSwitch’s aggregation, users can automatically find the best exchange rate prior to conducting their coin-coin transaction. CoinSwitch is non-custodial, meaning that users are responsible for holding their assets, which can be swapped by simpling entering the address of their relevant wallets.
The CoinSwich API even offers the ability to create a customized crypto exchange by allowing users to add a trading widget to their websites with zero code required. The hosting sites are able to earn up to 50% on revenue share on all trades, and CoinSwitch notes that over 100 websites are already using this product. Additionally, the site offers a 25% referral program, paid in BTC.
CoinSwitch isn’t the first trading tool addressing the widely disperse crypto exchange landscape. Arbitraj LLC has been working on a set of tools designed to take advantage of the arbitrage opportunities found among the highly illiquid exchanges. Arbitraj has built a web-based app and Google Chrome plug-in that demonstrates the price spreads for cryptocurrencies while users browse through exchanges.
CoinSwitch is reportedly venture-backed with major firms like Sequoia having invested.
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.