Coinsetter has officially launched as a “full Bitcoin exchange”. Previously a “trading platform”, it has built the infrastructure necessary to operate as a fully functional venue.
The exchange touts its low latency capabilities, executing trades in as little as 40 milliseconds. It says it was built on Wall Street, for Wall Street. It also claims to be the only venue that successfully sustains high frequency trading, a goal also sought by Atlas ATS.
Rare for a crypto exchange, phone support is available.
The exchange also says to have solid and stable banking relationships.
Coinsetter’s API is intended to power Bitcoin ATMs, payment processors, brokerages and other services needing access to a live bitcoin price.
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Trades are said to be aggregated from other exchanges as well, making for high liquidity and ensuring traders get the best price possible. Trading fees are among the lowest in the industry, 0.10% for the most active users. The posted bid-ask spread is also competitive, currently 0.28%.
Also available are derivatives to hedge against short term price movements.
The launch coincides well with the imminent arrival of the “BitLicense”. Coinsetter is seeking to function as a fully regulated venue, making them an ideal candidate. Smaller businesses have complained that the licensing requirements are too onerous in their current state.
Coinsetter is also based in New York, where the license is to be administered.