Big names like Binance and Coinbase may have dominated headlines in 2019, but a young Australian cryptocurrency exchange has been quietly taking the trading community by storm and is now the largest exchange by trading volume.
The crypto exchange space is a competitive one. Last year alone, more than a dozen centralized and decentralized exchanges opened their doors.
Among the 2019 crop of new exchanges is TAGZ. Launched in March of last year, the Australia-based crypto exchange has experienced tremendous growth, growing its user base to more than 480,000 active users.
TAGZ has held onto the top spot for nearly four weeks straight with an average daily trade volume of nearly US$3 billion [AU$4.27 billion] – more than seven times that of Binance and OKEx and more than seventy times that of Bitfinex and Kraken.
Why crypto traders are flocking to TAGZ
TAGZ has been onboarding around 30,000 new users per month on average. With so many crypto exchanges for traders to choose from, what makes this particular platform so special?
TAGZ is Australia’s largest cryptocurrency exchange to be fully regulated and KYC/AML compliant.
In addition, TAGZ boasts an intuitive, user-friendly interface for trading in 28 different markets, instant deposits and withdrawals, no deposit or withdrawal fees, and trading fees of just 0.01% – the lowest in the industry.
In an industry where hacks, schemes, and exit scams are practically commonplace, it can be hard to tell which exchanges are safe to use and which put your crypto assets at risk.
“The fact is that there are very few crypto exchanges that can be trusted, and traders love the fact that we’re an Australian company and fully licensed,” said founder and CEO Bryan Seiler.
“The added bonus that we have such an easy to use platform together with only 0.01% trading fees allows the average retail investor to realize it’s a no brainer.”
What’s next for TAGZ in 2020?
Having already achieved what many consider to be the ‘holy grail’ for crypto exchanges, the question now is what’s next for the Australian company.
According to Bryan Seiler, the crypto exchange’s primary focus will be increasing liquidity and growing its user base.
“The focus for us is in 2020 is to increase the liquidity on our platform even more which in return will bring on board more traders and users of our exchange. We are also working on releasing our new mobile app for iOS and Android devices which will be released shortly.”
He also told Micky that the exchange will be rolling out its full-scale platform which, among other things, will introduce margin trading to its customers.
With everything that TAGZ has achieved in 2019, it’s easy to forget that the platform is only in its beta phase. It will be interesting to see how 2020 plays out for the top crypto exchange.