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Bitcoin Exchange ItBit Considers Ether Trading

By

Danielle

Meegan

WriterETHNews.com

ItBit is exploring the idea of supporting Ether.

The CEO of the bitcoin exchange, ItBit, is considering whether or not to add Ether to their trading platform. Currently, the platform only develops blockchain technology for assets and over-the-counter trading with bitcoin.

In an interview with CoinDesk last week, CEO Charles Cascarilla noted the interest in Ether was due to the exchange’s competitors, Coinbase and Gemini, adding their support recently.

Cascarilla stated,

”Clearly Ethereum is trying to create more functionality and there are benefits and risks to doing that. [But] we’ve been looking at it.”

Cascarilla also addressed his concern with the recent DAO hack. Though he may see it as a possible risk, the situation does not weaken the value of Ether or Ethereum itself.

If ItBit finalizes this support, it would be the third major bitcoin exchange to add Ether to its trading platform in the past two months. Gemini became the first ever licensed Ether exchange in the beginning of May, then by the end of May, Coinbase added Ether while also transforming their exchange into GDAX (Global Digital Asset Exchange).

Danielle Meegan

New Hampshire native, Danielle Meegan, is a writer based in Los Angeles. She has been published in a couple of sports and entertainment magazines and newspapers throughout the years and has dabbled with multiple virtual currency exchanges to understand the 'ins and outs' of trading. Danielle has invested in over 15 different virtual currencies, including Ether.

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