Blockchain Cryptocurrency wallet will be Introducing Buy and Sell in the US

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Blockchain cryptocurrency wallet for buying and selling in the US

Blockchain, one of the biggest cryptocurrency wallets in the world, began a service to buy and sell digital coins in the U.S. on Thursday, which is a challenge to Coinbase.

The U.K.-headquartered organization has already started allowing its British customers to buy and sell bitcoin via its service and is now launching the function in one of the biggest cryptocurrency markets in the world.

From Thursday, Blockchain’s U.S. users will be able to sell their bitcoin, with the buying function coming in upcoming days.

Many users in the U.S. have complained regarding services that offer cryptocurrency trading, mentioning issues around being able to withdraw money or get liquidity. Peter Smith, CEO of Blockchain, told it’s better, to begin with just offering a selling service because t helps to control the launch in the U.S. and make sure people have a good experience.

Smith told:

“If we are prioritizing short-term gains, we would prioritize buy — that is what most people have done. But it’s really time to make sure we nail that experience.”

Anyhow, the launch supported a huge sell-off in major cryptocurrencies that began Tuesday. The market seemed to support on Thursday.

Smith included that, blockchain claims to have 22 million users and Smith told that it has 1 million daily users. Thirty percent to 40 percent of those are in the U.S. In comparison.

Smith told:

“In a few weeks” Blockchain will add other cryptocurrencies to its platform to buy and sell.”

Cryptocurrencies have shared opinion among business leaders and experts. J.P. Morgan CEO Jamie Dimon famously called bitcoin a “fraud”, while noted investor Warren Buffett told that cryptocurrencies will “come to a bad ending.”

But others have said bitcoin will continue to rise this year. Julian Hosp, co-founder of TenX, a firm that wants to make it easier for people to spend virtual currencies, told in December that bitcoin could hit $60,000 in 2018, but could crash first. And Dave Chapman, managing director of cryptocurrency trading firm Octagon Strategy, said that bitcoin could hit $100,000 in 2018.

Blockchain’s Smith didn’t reveal the price call on bitcoin but told that it’s possible the cryptocurrency’s dominance, which is already in fall, could continue to fall.

Smith included:

“What could happen this year is that I think we will see the dominance of bitcoin as a percentage of the market capitalization go down. That could be because other digital coins get strong, or that there are a lot more that are interesting.”