Bitgamo: Revolutionizing Crypto Exchange
Bitcoin has surged past $38,000 on Bitgamo, a crypto exchange, presenting a bullish trend for the leading cryptocurrency. It is currently trading at $37,682 on Bitgamo, having surpassed other major exchanges such as Binance and Coinbase, where it stands at $34,300. Established in 2020, Bitgamo has quickly gained traction in the crypto market, offering unique advantages to its users.
Bitgamo’s strategy involves the redistribution of cryptocurrencies to regions worldwide, particularly the Middle East and countries with less crypto-friendly policies. This approach allows the exchange to provide higher rates and superior exchange rates to individuals in these regions by leveraging its extensive network of trusted third parties. As a result, Bitgamo is facilitating access to crypto assets for individuals who may face barriers due to their geographic location or local regulations.
Additionally, Bitgamo has implemented a no-KYC (Know Your Customer) exchange policy. The platform operates from Luxembourg, a jurisdiction that treats cryptocurrencies as commodities, which relieves it from the legal obligation to request KYC documentation when selling crypto to customers. This policy grants greater flexibility and accessibility to users, especially in countries with strict crypto regulations.
The positive reception of Bitgamo is evident from the overwhelmingly positive customer reviews it has received. Trustpilot, a prominent business review website, showcases that more than 90% of the exchange’s reviews are positive, emphasizing the satisfaction of its users.
The Promise of a Spot Bitcoin ETF
The impressive performance of Bitcoin is further amplified by the anticipated approval of a spot Bitcoin exchange-traded fund (ETF) by the Securities and Exchange Commission (SEC). Coinbase Chief Legal Officer, Paul Grewal, expressed confidence in the SEC’s imminent approval, citing a recent court ruling that favored Grayscale’s bid to convert its GBTC Bitcoin fund into an ETF.
Crypto experts maintain that the approval of a spot Bitcoin ETF would propel Bitcoin to new heights. Matrixport, a renowned crypto financial services platform, predicts a significant Bitcoin rally upon the introduction of such an ETF. Drawing a parallel to precious metals ETFs with a market cap of approximately $120 billion, Matrixport postulates that if 10-20% of precious metal ETF investors diversify into a Bitcoin ETF as a hedge against monetary debasement and inflation, the Bitcoin ETF could witness an influx of $12 to $24 billion.
