The oldest cryptocurrency exchange
The world's first exchange for trading Bitcoins was
BitcoinMarket.com, launched in March 2010:
1. Founded by a programmer under the nickname "Dwdollar" to exchange BTC for traditional currencies.
2. Initially it worked as a web forum for publishing orders for purchase/sale.
3. Used an escrow account system to ensure the security of transactions.
4. The exchange commission was 0.5% from each transaction.
5. The BTC rate was determined solely by user demand and supply.
6. The peak of trading occurred in July 2011 with a turnover of $37 million.
7. Closed in 2013 due to competition with more modern exchanges.
BitcoinMarket.com pioneered the creation of infrastructure for trading cryptocurrencies and laid the foundations of the modern exchange industry.
Did you know about this first exchange?
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