Announced earlier this week, the two companies said the deal is expected to be finalized immediately, without disclosing the financial terms.
BOA Exchange is a crypto exchange that has accumulated a vast user base, offering free alt tokens in airdrops and staking coins. The deal further expands the reach of Bitcoin.com into the underserved Eastern European and Southern Asia marketplaces. BOA Exchange came onto the scene in 2018 during the height of the ICO craze making a name for itself in the altcoin and airdrop marketplace, offering cheap listings and a plethora of free tokens to its members.
Danish Chaudhry, Head of Bitcoin.com Exchange stated: “We are pleased to have made this acquisition at this time, as it furthers our reach into the European and Asian markets as we witness a consolidation in the crypto exchange space.”
Sources close to the deal told the news source the deal will consist of a straight crypto transaction with an undisclosed amount of Bitcoin Cash (BCH). In terms of how the transition will pan out, users will soon be going to exchange.bitcoin.com to check their balances. However, users at BOA Exchange will have time to either withdraw their tokens from the old exchange or signup to exchange.bitcoin.com to easily transition to the new platform.
Bitcoin.com Exchange also said that the acquisition comes at a great inflection point in the industry, with new traders across the globe adopting crypto and speculating it due to current circumstances of further trust in the market. The exchange has said that it has seen a plethora of new signups, ranging from beginner to advanced traders over the past couple of months. This could also be due to the new margin trading capabilities available within the exchange.
Dear users of Bitcoin.com Exchange please consider that Margin Trading has several risks due to cryptocurrency price volatility and product complexity. We advise you to exercise carefulness and attention. Bitcoin.com provides high liquidity, 24/7 multilingual support, and dozens of trading pairs complemented by high security, but we are not responsible for your financial losses during trading activities.