CoinTrader Adds CAD Order Book, Looking to Snap up Canadian Market Share

Canadian Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term CoinTrader now allows users to trade bitcoins against the Canadian dollar (CAD). Although officially a Canadian exchange, until now it has only offered USD-based trading.

The exchange had also previously partnered with a Canadian payment services provider, Vogogo. The latter can be linked directly to Canadian bank accounts for CAD deposits, which can now be traded directly for bitcoins.

Coincidentally, the addition comes right around the same time as Vault of Satoshi's (VOS) announcement of its upcoming closure. VOS was another Canadian Bitcoin exchange offering both CAD and USD pairings. CoinTrader's addition may thus help it win some of the market share becoming available, although it may be limited- VOS's volumes have not grown significantly over the past year.

Also like VOS, however, there is still a large bid/ask spread even in CoinTrader's USD order book. The gap is currently $5.50 (2%). There are currently no active orders in the CAD book.