Coinfloor, the largest bitcoin exchange in the UK, simplifies the relations between bitcoin consumers/investors and brokers by launching Coinfloor Market. It is noteworthy not only because it’s actually the world’s first broker-based bitcoin marketplace. It has all chances to increase overall trust in bitcoin as viable digital currency. It provides a possibility for bitcoin users to trade bitcoin in secure environment.
Coinfloor made an official announcement after the meeting in London devoted to bitcoin promotion. Management of the company discussed the necessity of safe marketplace creation with UK’s leading bitcoin brokers. As a result 21 members of Coinfloor Market swore to keep it secure and accessible.
Signed Bitcoin Brokers’ Agreement strongly reminds the Buttonwood Agreement that underlay the launch of New York Stock Exchange. New York used to encounter similar problems so no wonder that its set of regulations served as a model.
“Our founding members are key to the success of Coinfloor Market. Just as the NYSE was committed to a decentralised network of brokers backed by a centralised exchange, Coinfloor is the first institution in the Bitcoin industry to mirror this proven model”, said Mark Lamb, CEO at Coinfloor.
Since the appearance of bitcoin on financial market traders have questioned the safety of sending funds internationally; exchange rate risks and full self-responsibility of storage security didn’t add confidence.
Coinfloor offers direct and personal interface to reliable brokers. Coinfloor Market users buy bitcoins which are safely kept in storage service. The highest level of safety is provided by multiple encrypted keys stored in underground vaults.
Coinfloor is aimed at regulation of attitude to bitcoin in the world. Mr. Lamb shares: “Coinfloor Market and the introduction of professional bitcoin brokers is the next step for bitcoin’s adoption. We are moving away from the ‘Wild West’ of Bitcoin towards safe and accessible structures. Coinfloor’s Brokers join us in leading the Bitcoin industry in pursuing professionalism and focusing on trust and innovation that will accelerate the growth of the Bitcoin network.”
Adam Khight, Coinfloor’s Chairman, admits that the very idea of market creation appeared after deep analysis of challenges in bitcoin transactions. Bitcoin industry needed some changes to move forward. As a result broker-exchange model was found to be the best.
Coinfloor proudly names its market “the most secure space to purchase bitcoin.” Coinfloor market’s brokers are happy to be a part of new service. Peter Wood shares first impression: “My customers want a fair price, a secure transaction and a safe place to store their bitcoins. Coinfloor Market provides that and I’m looking forward to building my business here. It gives me the well-deserved recognition for my work as a bitcoin broker in the UK.”