Bitstamp crypto exchange set to add support for Avalanche (AVAX)

Avalanche (AVAX) and Wrapped Bitcoin (wBTC) users will soon be able to start trading on the Bitstamp crypto exchange according to a recent post from the exchange.
Bitstamp crypto exchange set to add support for Avalanche (AVAX)

In a blog post, London-based cryptocurrency exchange Bitstamp revealed that the Avalanche (AVAX) cryptocurrency will be listed later this week.

Wrapped Bitcoin (wBTC), a synthetic replica of the world’s most popular cryptocurrency, will also be listed on the largest European exchange.

These tokens (AVAX and wBTC) will be able to be traded against the euro and the dollar.

On March 10, order books will remain in transfer-only status. The exchange will only take incoming tokens during this initial phase of the listing.

The cryptocurrencies will be in a post-only status on March 11th. Before Bitstamp allows full trading, limit orders will begin to be matched shortly after that.

Bitstamp, which was founded in August 2011, is still a major player in the sector, with a daily trading volume of $267 million.

About AVAX (Avalanche)

Avalanche is a scalability, usability, and interoperability-focused blockchain system. It permits an infinite number of customizable and interoperable blockchains to be created.

With faster transaction speeds and cheaper costs, Avalanche seeks to be more environmentally friendly than current blockchain systems. Finally, the trilemma of scalability, decentralization, and security is resolved!

Users can establish a number of customizable blockchains with Avalanche, each with its own set of features and purposes. Avalanche also provides cross-chain interoperability, allowing them to collaborate to develop even more powerful ecosystems.

Its native currency, AVAX, is a utility token that acts as the network’s medium of exchange (fees, transactions, incentives, and passive revenue).

About WBTC (Wrapped Bitcoin)

Wrapped Bitcoin (WBTC) is an ERC-20 token backed in a 1:1 ratio by Bitcoin (BTC). This indicates that the cryptocurrency Bitcoin has been listed on the Ethereum blockchain and has the same exact value as the depicted asset.

Because it is easier for traders to move money in and out of these applications, WBTC was designed to boost liquidity and access to financial services in the DeFi ecosystem. This increases trade volume and liquidity.

Furthermore, WBTC transactions clear considerably faster than BTC transactions. WBTC makes it easy to trade and use Bitcoin on Ethereum-based platforms by encapsulating it in an ERC20 token.

WBTC gives cryptocurrency traders and investors more options for speed and efficiency.