ProBit: South Korea’s Hottest Exchange – Marco Manoppo
ProBit is one of South Korea’s Top 10 largest cryptocurrency exchanges¹. With more than 100 trading pairs and 150 Initial Exchange Offerings (IEOs) completed, ProBit attracts investors and traders from all over the world to utilize its platform for their crypto trading needs. In this article, we will take a deeper look at ProBit as a company and its growth since inception.
As of today, there are numerous of cryptocurrency exchanges vying for the attention of traders and investors. ProBit is a relatively new player in the space. It launched in November 2018 and its popularity has been quickly increasing; becoming South Korea’s #6 ranked cryptocurrency exchange² based on the latest 3-month traffic report on the regions’ local exchanges and #19 ranked exchange globally based on the monthly number of visitors³.
Security
Security is arguably the most important aspect of any cryptocurrency exchange. ProBit has implemented the highest digital asset industry standards such as enabling FIDO U2F hardware security keys (YubiKey, etc.) and software-based 2FA such as Google Authenticator. It also claims to store 95% of its digital assets in cold wallets. Lastly, cryptowisser.com ran a security test on ProBit through Mozilla’s Observatory-test and it received a B-score, which is on par with Bitfinex, Binance, and many more⁴.
Trading Pairs and IEO Initiatives
One of ProBit’s biggest strengths is its vast selection of trading pairs and Initial Exchange Offerings (IEOs). Big exchanges often demand a hefty fees for projects to be listed on their platforms, acting as barriers for these tokens to gain access to a larger pool of capital. This is not the case with ProBit. It charges a nominal fee for projects to be listed on its platform.
As a result, it offers far more trading pairs, providing traders and investors the complete freedom to be responsible for their own capital. As of December 20th, 2019, ProBit has more than 200 active trading pairs⁵.
Team Background
The founder of ProBit, Hyunsu Do (CEO) and Steve Woo (CTO) have extensive background in the sector. Hyunsu was the COO at B-Seed partners, an accelerator firm focusing on Fin-tech and blockchain companies. Prior to that he was a partner at one of the biggest law firms in Korea; whereas Steve was the founder and CEO of Linux International Inc, with more than 25 years of software industry experience. Their combined knowledge in the technology, regulatory, and corporate governance spaces ensures that ProBit will be a world class player in the cryptocurrency exchange space.
Exploding Growth
Data from similarweb.com showed that ProBit received a significant increase in traffic between October and November of 2019 as the team is pushing for global expansion.
Published at Wed, 25 Dec 2019 19:13:50 +0000
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