Korbit , the largest Bitcoin exchange in Korea has announced the launch of Ethereum Classic trade Korbit allows users to buy and sell etc. for Korean won, without any fees.
On 18 July the team Korbit has officially announced its decision to stop trading Ethereum - ETH including deposits and withdrawals - to prevent users from impact of a hard fork.
The first major Bitcoin exchanges in Korea to support Ethereum Classic
Team Korbit has told its users that the exchange will resume trading Ethereum, once the network settles down and becomes more stable.
Team Korbit said in an email to its customers:
"In order to prepare for the hard fork, all ETH deposits and withdrawals will be disabled at 5 PM KST on Wednesday, July 20, or one hour prior to the hard fork, whichever comes first. After the network is stable after a hard fork, we will re-enable all ETH depositing and withdrawing money ".
However, it is difficult fork led to the creation of Ethereum Classic, a network dedicated to the development and maintenance of source chain Ethereum network. With the market cap and trading volume in the ETS is increased by supporting the world's largest cryptocurrency exchanges including Poloniex and the Kraken, the team Korbit has decided to become the first major Bitcoin exchanges in Korea to support Ethereum Classic.
ETC, all trades will be free of cost
More importantly, as a celebration of their new trade command functions Korbit has announced that all ETC transactions will be free of cost, excluding exchange and conversion fees for all users for some time.
Team Korbit said:
"Korbit in Ethereum is a Classic Korean won (ETC-KRW) exchange has finally launched. You can now trade directly ETC with KRW on Korbit exchange. Similar to our BTC-KRW exchange you can trade ETC, by setting your own price in order books and the deposition of ETS using our website for trade etc. in order to celebrate its opening you can trade ETC without payment for some time."
Korbit, one of the two venture supported Bitcoin exchanges in Korea, currently controls much of the market share in the Korean market crypto currency, with extremely high daily volumes and orders.
With their full support to the Ethereum Classic, other large Korean exchanges with a high degree of probability of the launch of Ethereum Classic trade in the near future.
Well written