AAX Becomes First Exchange To Switch To Satoshi Standard

The AAX crypto exchange has announced shift to Satoshi trading standard to alleviate Bitcoin price highwall barrier, according to a Monday’s announcement.

The AAX exchange is making the SAT-USDT trading pair available starting from August 25 with minimum trade volumes in Bitcoin standing at 0.1 USD at no fees. The transition to the Satoshi standard is being made to lighten market entry barriers for new users and foster the adoption of Bitcoin among communities of unbanked and retail investors with relatively low amounts of capital.

The shift and integration of the Lightning Network into the AAX exchange come in light of intensified discussions within the decentralized asset trading community about the need to consider the price of Bitcoin as the main barrier to its adoption. The transition to SAT is meant to allow a larger number of potential investors to partake in trading and promote the use of BTC as a means of payment worldwide, as Toya Zhang, Deputy COO of AAX, believes.

Zhang has also called on other exchanges to adopt the new standard and break the perception barrier among average investors about the inaccessibility of Bitcoin as an asset for both investment and trading. The psychological impact of the price of Bitcoin is meant to be challenged by the transition to SAT, along with efforts aimed at making trading with the new standard more accessible as part of a larger campaign by the exchange to attract new users and market entrants.

Earlier, on August 5, AAX announced that it is cancelling all commissions in spot trades to onboard new users and make the process more attractive for market participants, as reported by CryptoDaily. Trading in the SAT-USDT pair on the AAX exchange is to be launched at user-friendly terms with minimum orders starting at $0.10 (214 SAT) and maximum orders being 50,000 SAT ($23).

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Publication date: 
08/25/2021 - 10:45
Disclaimer

The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.