Bitstamp Unveils British Pound Trading vs Fiat and Cryptocurrencies – Finance Magnates

Bitstamp, one of the largest crypto platforms in Europe, has announced its plans of supporting a new set of digital and fiat pairs after adding the pound sterling trading against USD, EUR, BTC, ETH, XRP, LTC, and BCH.

There will be four stages to the launch, similar to how Bitstamp launches other cryptocurrency trading pairs on the platform. Bitstamp will begin with a transfer-only mode where GBP deposits and withdrawals will open on June 1, but trading will not be enabled yet. The second phase starts on June 3 and is called “Post-only mode,” during which users can only post limit orders with no matches. The books will be in this mode for a minimum of two hours; therefore, no orders will actually be completed during this stage.

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Next, Bitstamp will move to limit-only mode, during which limit orders will start matching, but customers will be unable to submit market orders. Finally, Bitstamp will enter full trading mode, during which full trading services will be available for GBP pairs, including limit, market, and stop orders.

Bitstamp will keep users updated on each stage through its website. The upgrades are expected to roll out smoothly starting next week, and the exchange would apply zero trading fees through September 1, 2020.

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