Blockchain launches new crypto exchange dubbed The PIT

Blockchain has announced the launch of a new “institutional-grade crypto trading platform” called The PIT that aims to allow traders to trade with speed, reliability, and liquidity. Since last July, the company has recruited veterans from NYSE, TD Ameritrade, Google, Goldman Sachs, UBS, Interactive Brokers, and Revolut to build the platform, which it claims is the fastest in the crypto market.

In its announcement, Blockchain railed against other exchanges that cut corners and subsequently go offline at the most crucial times, hindering traders’ ability to make money while cryptocurrencies are at their highs and lows. Explaining how it does things differently, Blockchain said:

“We don’t just host our exchange in the cloud alongside slow, consumer applications like many exchanges. We use Equinix LD4, one of the most reliable and lowest-latency data centers in the world. LD4 is the computing infrastructure underpinning many of Europe’s largest global finance, technology, and media companies.

“It isn’t cheap or easy to stand-up technology in LD4, but we’ll never settle for anything less than world-class technology.”

Accompanying the reliability of the platform is its speed and liquidity. According to a separate post from Blockchain, The PIT is the fastest crypto exchange because it’s able to make a trade in 40 microseconds meaning traders can make millions of orders each second. By connecting a Blockchain Wallet to The PIT, traders can quickly move their cryptocurrencies back to their secure storage.

In terms of liquidity, Blockchain has secured agreements with “global market makers” to let traders trade between any trading pairs at any time. The PIT boasts 26 trading pairs of fiat-to-crypto and crypto-to-crypto options.

To top it all off The PIT has been designed with simplicity in mind. Users will be able to customise their dashboard to see the information they need. The customisable interface will allow novice traders to feel more comfortable using the product while advanced traders will be able to optionally see more advanced and niche data.

If you’d like to learn more about The PIT, you can head on over to the official website right now. Sign-ups are open but trading will not begin on the platform for another six days. Also, take note that The PIT is still in beta so there may be bugs.

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