- HashKey, the Hong Kong-based crypto exchange, has taken a groundbreaking step in expanding BTC/USD and ETH/USD trading pairs to both professional and retail investors.
- The risk disclosure in the blog article demonstrates HashKey Exchange’s cautious stance. The exchange is aware of the risks inherent in the open-source, decentralized design of cryptocurrencies.
- HashKey Exchange’s latest announcement follows its privileged position as the first crypto exchange to receive permission from Hong Kong regulators to offer crypto retail services.
HashKey, the Hong Kong-based crypto exchange, has launched BTC and ETH trading services as a regulated exchange in Hong Kong.
HashKey Launches BTC and ETH Trading
The Hong Kong-based crypto exchange HashKey has taken a groundbreaking step in expanding BTC/USD and ETH/USD trading pairs to both professional and retail investors. The exchange’s official blog post shows that deposits and withdrawals of Bitcoin (BTC) and Ethereum (ETH) are already accessible to retail investors, which is considered a significant step towards participation in the digital asset market.
A notable aspect of this expansion is the implementation of zero transaction fees for all trading pairs, both instantly and until a future date. This change is expected to increase interest from investors who want to conduct cryptocurrency transactions at a low cost.
The risk disclosure in the blog article demonstrates HashKey Exchange’s cautious stance. The exchange is aware of the risks inherent in the open-source, decentralized design of cryptocurrencies. It acknowledges that the network’s performance may be affected due to the non-acceptance of technical innovations.
Additionally, the exchange is aware of the ongoing competition in the market and warns of the risk of both BTC and ETH being replaced by safer and more effective alternatives. This statement comes at a time when both BTC and ETH are facing significant bearish trends due to an ongoing market correction.
An important aspect emphasized by HashKey Exchange is the management of voting rights for virtual assets traded on the platform. The exchange emphasizes that it functions as a trading platform rather than a participant in the management of assets that provide voting rights.
The statement also clarifies that it does not exercise voting rights on behalf of users. Through this mechanism, users have the opportunity to actively participate in the management of their assets; however, they must first withdraw the necessary assets from the platform to exercise their voting rights.
HashKey Exchange’s latest announcement follows its privileged position as the first crypto exchange to receive permission from Hong Kong regulators to offer crypto retail services. The exchange’s regulatory journey began by obtaining a Type 1 license under the region’s securities legislation and concluded with obtaining a Type 7 license, allowing it to provide automated trading services to retail and institutional clients.
Can BTC and ETH Expect Recovery?
The exchange’s bold decision to expand trading pairs and offer commission-free trading has increased expectations for a bullish turnaround against the current deteriorating market trend for both Bitcoin and Ethereum.
The impact of this significant announcement on the price movements of these two leading cryptocurrencies is actively being monitored during a period when HashKey Exchange is actively attempting to reshape the crypto landscape with its strategic offerings. Bitcoin and Ethereum are currently trading at levels of $25,969 and $1,638, respectively.
