BitcoinMarket.com made history by becoming the first online platform dedicated to the exchange of Bitcoin for traditional currencies in 2010. It was founded by Jared Kenna. BitcoinMarket.com played a crucial role in establishing the infrastructure for the cryptocurrency market. This was the milestone of crypto industry because no one had any thinking about crypto exchange before it. So it can be said that as the foundation and development initiation of the crypto exchange.
At the time of BitcoinMarket.com's launch, Bitcoin was still in its early stages. In that time Bitcoin was unknown to the general public. The platform provided a convenient and secure way for individuals to buy and sell Bitcoin using established fiat currencies such as the US dollar. This marked a significant milestone in the evolution of Bitcoin. People got the way of exchanging their money to the Fiat money for their regular need fulfillment. Bitcoin became true digital money to them after the listing of btc to the exchange.
BitcoinMarket.com operated as a peer-to-peer marketplace. It connects buyers and sellers of Bitcoin. Users could register on the platform, create buy or sell orders and execute trades with other participants. The exchange facilitated these transactions. So it is ensuring the secure transfer of funds and Bitcoin between parties.
The establishment of BitcoinMarket.com was a crucial step in increasing the liquidity of Bitcoin and expanding its user base. Before initiation of this exchange the acquisition of Bitcoin was predominantly limited to mining. The mining process is costly due to the proof of work consesus mechanism of Bitcoin network. After that listing of bitcoin buying and selling was very easy for the mass people. So this was a tremendous step in the journey of crypto.
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