LINE Corporation (LINE), creator of the popular Japanese messaging application LINE, has launched its new cryptocurrency trading platform, BITMAX. BITMAX is baked into the messaging app itself, meaning users can satisfy their crypto trading needs without having to download additional software or purchase a second device.
BITMAX currently supports five types of cryptocurrencies: Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Bitcoin Cash (BCH), and Litecoin (LTC). BITMAX has been exposed to over 81 million users. The exchange enables users to make small transactions as low as $9.00.
This trend of messaging applications launching their own cryptocurrency exchange continues to grow as Telegram, a popular messaging application with no published IP, plans the launch of the Telegram Open Network cryptocurrency ecosystem next month. With a reach of over 365 million users, Telegram's launch will make it one of the largest crypto-launches in history. BITMAX's performance may provide an insight into the longevity and user-interest in such a business model.
