CoinField, the Canadian cryptocurrency exchange, has recently added new fiat to cryptocurrency trading pairs, including a Dash/USD and Dash/CAD pair.
CoinField previously only had Dash trading pairs with XRP, but added the USD and CAD fiat pairs “due to the high demand of DASH and the popularity among the crypto traders”. CoinField’s CEO & CO-Founder, Babak Bob Ras, highlighted the importance and potential of Dash.
We're excited to announce the addition of 18 new Fiat Trading Pairs to CoinField on January 11th 2019:— CoinField (@coinfieldEX) January 7, 2019
USD: DGB, ZRX, BCH, DASH, ZEC & BAT
CAD: DGB, ZRX, BCH, DASH & ZEC
GBP: BTC, ETH, XLM, LTC & DGB
JPY: BTC@DigiByteCoin @0xProject @Dashpay @zcashco @AttentionToken pic.twitter.com/K6J1n5BJCT
“Dash has been proven to be a very solid project and we believe we will see a huge expansion in the next few years. Dash team has a clear vision and we believe the team is putting all the efforts to get there soon”
CoinField offers trades at competitive rates with the Maker/Taker fee ratio of 0.09%/0.15% for Dash/XRP, 0.15%/0.20% for Dash/USD, and 0.15%/0.25% for CAD.
“We try to keep our fees as low as possible to make our platform a desirable hub for both professional & amateur traders globally. The long term goal is to bring more volume to the platform rather than generating some quick and temporary revenue.”
The increase in trading pairs helps CoinField prepare for what they expect in 2019 to be “a significant amount of interest for cryptocurrency from normal people who probably never traded or held any cryptocurrency in past”.
Making cryptocurrency adoption more feasible
Even though there is a growing interest in cryptocurrencies, it can still be difficult to acquire coins if there is no direct trading pair in the potential buyers’ preferred currency. The increasing amounts of trading pairs, especially on easy to use platforms, makes cryptocurrency acquisition a little easier.
“Our vision is to bring the cryptocurrency to people’s lives in the most convenient and simple way, and make it available to well-qualified traders in most countries worldwide. Being able to offer deposit or withdrawal in each country’s local currency is important and that’s something that we will make sure to pay very close attention in our expansion plan. “
Another barrier that has to be overcome to make cryptocurrency adoption a reality is complying with regulations to offer uninterrupted quality services. While regulations do not mesh with the cryptocurrency philosophy, it is a reality since some governments have either already cracked down on exchanges or indicated that they may do so in the future.
“We support regulations and we believe a clear guideline and regulations are important to help Cryptocurrency market size to grow globally. Our platform is based in Canada and we have a great team of compliance in the house to make sure we are fully in compliance with FINTRAC (Financial Transactions and Reports Analysis Centre of Canada) regulations and we are fighting against the money laundry as our part.”
Dash positioned to increase cryptocurrency adoption
Dash is harnessing these traits to increase cryptocurrency adoption, especially in Canada. Dash is able to simultaneously utilize its unique DAO network to offer an internal governance system with its PrivateSend network. This enables Dash to more easily arrive at network consensus and store all information on the Dash blockchain, which offers the ability to prove to government agencies that Dash is self-regulating without sacrificing privacy.
Additionally, Dash has been able to leverage the above advantages with integrations into numerous exchanges around the world in numerous fiat pairs. Dash is then able to differentiate itself from competitors by being usable at over 4,800 merchant locations around the world, which increases even more with gift card distributors such as Coincards.ca in Canada and Bitrefill. Dash is also seeing adoption by traders since its rapid speed and inexpensive fess make it ideal for quickly moving in and out of trade positions. The combination of these attributes place Dash in a better position to be acquired and used by everyday individuals for everyday transactions.