As cryptocurrency becomes more and more popular, the most common medium for obtaining it – cryptocurrency exchanges – are becoming readily available to consumers for the buying and selling of these digital assets.
Competition between these online marketplaces has only grown as a result, with startups fighting to differentiate their brand anyway they can. Indeed, there are over 500 exchanges for consumers to choose from – a dramatic change from the days Mt. Gox’s sole reign.
Paybis and Its Exclusive Deal
One such exchange, Paybis, is trying to set itself apart from the pack by offering deals on crypto purchases on their site. For example, they just recently introduced a new discount system where users get increasingly larger discounts the more they buy.
Paybis bills itself as an “advanced crypto and digital currency exchange platform,” emphasizing a user friendly interface and low fees. Another point of focus is customer support, something it provides on a a real-time basis, 24/7, which, by the way, is not provided by most exchanges, as it has not become a standardized norm the same way it has in other industries. Thus, many in the cryptosphere may see this as one the exchange’s most enticing qualities.
The new discount system gives users a chance to see discounted prices as low as 50% below normal, an unprecedented offer that is unlikely to be found at any other exchange. This deal is available for those who buy Bitcoin, Litecoin, Bitcoin Cash, Ripple, and Ethereum with a debit or credit card on the Paybis platform.
In addition to this, Paybis has also set up a referral program with an abundance of promotional material and, more significantly, a 10% revenue share. Furthermore, in partnership with Simplex, the exchange has also announced options to buy Bitcoin Cash and Ethereum with a Debit or Credit card.
Ever-Growing Number of Exchanges
There are hundreds of exchanges to choose from nowadays, albeit much of the traffic is mostly concentrated between a select few. However, an exchange like Binance may hold 18% of all trading volume, but if it were to crash one day it wouldn’t collapse the entire market – like Mt. Gox did.
Thus, the variety is only a boon to consumers as it has diluted market power in the industry, arguably making it more accountable and/or responsive to customer demands.
Indeed, it has been the sudden emergence of Binance that caught everyone off guard – going from nothing to surpassing Coinbase in trade volume in about a year. This seems to have only motivated entrepreneurs within the space even more – inspiring the creation of other token-backed models like Legolas.