Has anyone heard of ASTROBIT? New exchange?

[Trance]

A friend recently told me a new exchange is going up by tomorrow or later this week known as AstroBIT

I would like to know if anyone has heard of this or will be testing it out??


Thanks in advance (Please feel free to post BTC address for tips for those with good feedback / information in regards to OP!)

[goosoodude]

Never heard of them, and when i try to visit the site from that facebook link you gave us i get : Website Coming Soon! Stay Tuned

I can't say anything good nor bad about them, but it sure that they will have a hard time finding users when there's a lot of competitors out there who are known
and trusted for some time now. It takes time to develop enough trust for people to deposit and/or use you as an escrow service.

[Trance]

I was told by the CEO the difference between AstroBIT and the other exchanges is that AstroBit = An exchange that actually processes a cryptotrade whereas others are repositories


Please share your opinions!

[Trance]

I was told by the CEO the difference between AstroBIT and the other exchanges is that AstroBit = An exchange that actually processes a cryptotrade whereas others are repositories


Please share your opinions!


He said

"Name one that processes your trade with the blockchain (not withdrawals or deposits) ?

Current exchanges use conventional databases, meaning they deposit or take a deposit to their own storage and give you a number....


I'm having a hard time understanding what exactly will separate this exchange from the other already well know and established exchanges..

[maokoto]

I think that there are too many exchanges now, and many of them already are rather professional.

However, there is still room for more. For example, a good exchange with small or no withdrawal minimum / fees would be great. Some people would like to try trading with very small amounts, and most sites have minimum withdrawals which hinders it.

[avatar_kiyoshi]

The site is still under development and said website is cooming soon, and stay tuned.
i see the facebook page is still brand new and the content of post is only about bitcoin news and some economics news.

[jdebunt]

Looks like a blatant advertisement for a new site that hasn't launched yet. Beware of using such sites, as they have 0 reputation in the Bitcoin industry.

[Mickeyb]

Looks like a blatant advertisement for a new site that hasn't launched yet. Beware of using such sites, as they have 0 reputation in the Bitcoin industry.

Yes, exactly this. You build up a hype even before anything was launched, in this way you can have a head start when the exchange actually launches. I am not saying it's this, but there are many scams in this industry, so people beware.

Other thing, isn't it very hard to open up an exchange based in the US nowadays? Don't you have to comply with all the laws from the different states, etc?

As for how this exchange would work, if I understood right, every wallet and every amount of every wallet together with every trade will be recorded on the blockchain. Is this possible, or have I missed something? There is no known exchange that does business like this at the moment.