cryptocurrency

New Crypto Exchange Bit Castle opens for business

At a time when many crypto companies and lending companies seem to be on their way, while many digital asset institutions have been making their way out the door or reducing expenses and operations, other companies are thriving, and it is one of the It is a new exchange Castle House is based in Saint Vincent and the Grenadines (in the Caribbean).

Bit Castle is running now

The crypto space hasn’t been doing well in the past few months. Several leading crypto asset prices have already faltered, with Bitcoin being the prime example. The world’s number one digital asset by market capitalization traded at a new all-time high of around $68,000 per unit in November of last year. However, now (only ten months later) the coin is doing all it can to keep the price as low as $20,000.

Overall, the cryptocurrency arena has lost nearly $2 trillion in valuation, and this has caused many exchanges to make serious cuts or changes to their company’s protocols to deal with bearish conditions. Trading platforms such as Gemini and Coinbase, for example, have had to lay off employees, with Gemini raising its total number of employees from around 1,000 to 900.

Coinbase has gone further and has laid off nearly 18 percent of its employees in the past few weeks. While all of this sounds bad enough, one has no choice but to admit that these bits of news are small grains compared to what is happening in the world of hedge funds and crypto lending platforms.

One such company that falls into the latter category is Celsius, which has been at the center of intense controversy lately. The company really raised eyebrows when it decided to halt withdrawals indefinitely a few months ago as a way to deal with the ongoing volatility in the crypto space.

From there, however, things seemed to get worse given that the company had to take bankruptcy proceedings. While it’s time to figure out what he’s going to do to stay in business, clients still can’t get the money they locked into the enterprise’s online platform.

Some companies are doing well

Other companies that should follow suit include Three Arrows Capital and Voyager Digital. These two companies have also gone bankrupt and their clients are still not able to access their locked money.

Bit Castle is at the other end of the spectrum. The company launched on August 17, and Bit Castle apps are also available for Android and iOS phones. Executives are putting the finishing touches to their cutting edge interface, which they claim will make trading easier than ever. Several mainstream coins (such as Bitcoin and Ethereum) will be available along with more than 20 smaller coins.

Tags: castle bit, centenary, cryptocurrency exchange

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