April 24, 2024

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[THE INVESTOR] New Korean cryptocurrency exchange Coinbit launched its services on April 30, trading more than 50 digital coins, including Bitcoin, Ethereum, Ripple, Litecoin, Quantum, Neo and Groestlcoin. 

The exchange, which already boasts around 120,000 users, said it plans to list 50 additional coins by the year-end. 

Amid the flurry of exchanges making their debut here, Coinbit said it is safer and provides more prompt customer services than its competitors. It has partnered with local security firm Wins for its security, and hired stock experts to provide customer services and investment consulting. The website is available in three languages -- English, Korean and Japanese. It also plans to create a platform for traders to exchange information. 

As part of the launch promotion, the firm will exempt trading fees for a month. 

The exchange is operated by local game publisher Axia, which is behind mobile racing game “Toykart.”

By Ahn Sung-mi (sahn@heraldcorp.com)