Vertbase has been a returning topic in discussions around Vertcoin for a while now. After a postponed launch earlier this year, it almost seemed as if Vertbase would never really take off. However, Vertbase just announced that they will start onboarding customers on September 1.
What is Vertbase?
Vertbase is a service developed by a company called “American trade exchange”. The service focuses on providing an easy to use entry-point for altcoins. While Vertbase has hinted they might support other coins in the future, their main focus is on Vertcoin.
CEO and Founder, Justin Seidl, says it is no mistake that he chose Vertcoin as the cryptocurrency to start Vertbase with. He believes that despite the recent negative price trend, Vertcoin will provide sustainable growth over the long-term.
“Once I started exploring altcoins more I noticed the amazing potential that some of these cryptocurrencies have. Unfortunately, it turned out to be extremely time-consuming and expensive to purchase those coins and I had to jump through too many hoops. I decided an easy-to-use altcoin entry-point to the market was needed and would be a huge bonus for the entire industry. I chose Vertcoin as the gateway coin because it is cheaper and faster than Bitcoin and because I believe Vertcoin is in the best position to offer a completely decentralized currency.
The choice for Vertcoin really originates from the way the developers have handled development and communication in the past. Vertbase strongly believes in the vision Vertcoin has set for both merhcants and users through their dedication to decentralized mining and the Lightning Network.
Can everyone use Vertbase?
Vertbase had a large wait-list open since the beginning of this year. Verrtbase disclosed that their goal is to slowly start accepting users from launch whilst monitoring the platform. Once Vertbase is confident the exchange is fulfilling to the users’ needs, they will scale to full capacity.
Vertbase won’t however be available for all US citizens at launch. Vertbase states that their services will be available for all U.S. residents from all states except for the following: AK, CT, HI, IA, ME, NC, NH, NM, NY, RI, VT and WA. The exchange aims to provide services for these states in the future as well.
What are Vertbase’s future plans?
Vertbase stated that there is certainly room for growth and that they have been looking at expanding their efforts to cover a global market. The main focus at launch will be exchanging USD to Vertcoin. Depending on user demand for other coins, Vertbase will explore opening exchange pairs from Vertcoin to those cryptocurrencies as well. Vertbase even hinted at the possibility of Euro and Pound trading pairs. This could open up an easy fiat gateway for more cryptocurrencies in the future.
- Twitter: https://twitter.com/vertbase?lang=en
- Vertbase: https://www.vertbase.com/
- Justin Seidl’s LinkedIn: https://www.linkedin.com/in/aceeightofspades/