Exchanges Race to Add Features as Binance Chain, GDAX and Bittrex Push Ahead

Competition among cryptocurrency exchanges is heating up, with several major platforms rolling out new products in the same stretch. In a recent episode of the Ledger Cast podcast, hosts Brian Krogsgard and Josh Olszewicz walked through the week's exchange developments and what they might signal for traders.

The biggest topic was Binance Chain, the blockchain project tied to the Binance exchange. The hosts also covered GDAX, Coinbase's trading platform, which has started supporting ERC-20 tokens, the widely used Ethereum token standard behind many new projects. For traders, that kind of change widens the list of assets they can hold and trade on a single platform.

Bittrex, the US-based exchange, drew attention for a beta version of its interface. Testing a new layout and tools this way suggests platforms are still experimenting with what active traders want. Shortly after the discussion, Bitfinex announced new fiat trading pairs, which let users trade cryptocurrencies directly against government-issued currencies.

Taken together, the moves point to exchanges competing on the range of assets they list, the quality of their trading tools and the currencies they accept. The hosts were clear that the episode is educational material and not investment advice, and that anyone considering a purchase should do their own research first.