By
Mayowa Adebajo
November 6th, 2023
Roger Ver has announced his idea to launch a new cryptocurrency exchange platform where BCH would be used as a base currency.
Though at the current moment it is really difficult to consider the crypto market to be a thriving one, leaders of the industry are trying to do their best to boost its development and growth. One of the directions of their efforts is creation and launch of new crypto platforms. One of the most well-known industry veterans, early investor in Bitcoin and Bitcoin Cash evangelist, Bitcoin.com owner, Roger Ver, is also said to join this movement.
Ver, known as “Bitcoin Jesus” for his early support for the cryptocurrency in the times when nobody had heard about BCH and called “Bitcoin Judas” later, has just mentioned the idea of building his own cryptocurrency exchange, but it has provoked a rather strong reaction in the community.
Speaking about a possibility to launch a crypto exchange during his interview in Malta, Roger said that he’s considering several variants for its launch and hasn’t come to a final decision yet, as the project is still in its early stages. For example, his team could develop such an exchange themselves or they could find a partner for Bitcoin.com who would code the platform for them.
He said:
“If we build it ourselves, we can do it really, really cheap, and we get exactly what we want. But we don’t have the security of a battle-tested exchange that’s been around for a while.”
Given the fact that Roger Ver is the biggest supporter of Bitcoin Cash, there is little surprise that he wants to make BCH a base cryptocurrency on the proposed exchange. Ver constantly insists that the institutional investors should opt for Bitcoin Cash, as this currency has fundamental features that Bitcoin does not longer possess.
Though there is still little clarity about how the exchange will be built, Ver has already decided to host it at Bitcoin.com. Earlier, a mining pool and a cryptocurrency wallet with a support for both BTC and BCH have been already added to this platform.
According to Ver, hosting the exchange at Bitcoin.com could ensure instant liquidity for the exchange as the website boasts real popularity today, though according to data provided by Alexa.com, an online traffic analytics firm owned by Amazon.com Inc, the website has lost public’s attention in the second half of the year if compared with the first six months of 2018.
Roger noted:
“Our exchange will be posted on Bitcoin.com so we’ll have thousands or tens of thousands of new users every single day.”
Nevertheless, critics have some doubts about the feasibility of making BCH a base currency as it isn’t very widely used by other exchanges and hasn’t reached widespread retail adoption. In May 2018, only $3.7 million in BCH payments were conducted while the all-time high of $10.5 million was observed in March.