Coinmarket.io is a new platform giving you the power to trade unique (and exotic) cryptopairs not found on any other exchange.
You can find a few exchanges letting you trade Peercoin (PPC), Namecoin (NMC), and even Feathercoin (FTC). It is hard enough to find exchanges for some of the cryptos further down the list such as BitBar (BTB) and Dogecoin (DOGE), although Dogecoin’s furious run of late has catapulted it well into the top 10. Cryptsy, for example, does offer trading in many of the exotic cryptocurrencies, but even still they are all paired with with Bitcoin (BTC), Litecoin (LTC), or Primecoin (XPM). So if you’re looking to convert your BitBars straight into Dogecoins, as many are probably thinking of doing at this very moment, you can’t unless you first convert into one of the three base pairs first. The drawbacks are understandable: you can lose on the spread, miss out on the perfect moment or get caught in the gauntlet of one the frequent bitcoin free falls (although granted, such a freefall is likely to affect whatever exotic crypto you were going to buy in the first place, and then some).
Here’s where coinmarket.io can help. In addition to many of the exotic-BTC pairings, they have recently added a USDE/DOGE pairing, useful for anyone looking to jump between these two increasingly popular cryptocurrencies (they also appear to be the first catering to USDE, in fact a very short time after its launch). On their forum, they are taking suggestions for which pairs to add next. It will not be surprising to see some of these added in the near future.
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However, they are literally still under construction and state “Beta version! Design and functionality will be improved”, “This is a untested beta version of the exchange – use it at your own risk.”
It doesn’t look like they’ll have fiats such a USD integrated in the near future- something which Cryptsy is actively working on.
They advertise all the bells and whistles related to speed, security, reliability and functionality as found on other exchanges. Interestingly, their only other catch is: “Although we will never list coins with questionable legal status, one of our main goals is to list the good stuff as quickly as possible.” Help me define, please, the “legal status” of any cryptocurrency someone is willing to trade.