Perspective | Comparison of Digital Asset Trading Markets in Asia and Europe in 2020

In 2019, significant changes have taken place in the field of digital asset trading. The number, quality and diversity of trading platforms have multiplied, providing practitioners with unprecedented choices. This year, people's interest in digital assets has soared, which represents an unprecedented growth in digital asset trading users. Of course, in this market, each user maintains his or her own unique gameplay, perspective, and preference.

When European users deal with digital asset transactions, they mainly focus on personal privacy, freedom, and how to avoid capitalist manipulation in the digital age. Europe (including cities such as Paris, London, Berlin, and Zurich) has played a crucial role in the development and evolution of the digital asset trading market, and has become a fertile ground for digital asset traders.

According to a data report from Datalight, digital asset traders in Europe have reached 10.3 million. Because of the unpredictability of digital assets, many European traders are deeply attracted. For professional traders who want to use more risky trading strategies, compared to the "ordinary" volatility of traditional assets, the opportunities in the digital asset field are much greater, and digital asset trading provides up to 100 times the leverage of trading. Opportunities can also attract them more.

Government agencies in several European countries, including Gibraltar, Malta, Estonia, Liechtenstein, and Switzerland, have been very active in regulating digital assets. In Liechtenstein, people can use Ethereum to open bank accounts. With a population of less than 500,000, Malta has also become the country with the highest volume of digital asset transactions in the world.

We believe that Europe is a market that can bring huge increases. As the registration location of many head exchanges, Europe is ahead of its time in the idea of ​​innovating and breaking the global inherent financial system, while at the same time balancing the regulatory approach, which is why we established Bibox Europe.

In Asia, especially Hong Kong, China, Taiwan, South Korea, and Japan, stock trading is much more common than in Europe. Stocks are just a secondary source of income. But with fewer opportunities in traditional investment areas such as stocks or real estate, many people have turned to crypto markets with low thresholds and high degrees of freedom.

Digital asset traders are driven by factors such as the crazy dream of getting rich overnight, the story of the poor millionaire, the wonderful experience of cross-border remittance payments, and the safe haven that digital assets can provide in economic and social tensions. From the violent terrorist incident in Hong Kong to the Sino-US trade friction, digital assets have now been positioned as a very attractive safe haven.

As we all know, Asia plays a key role in the field of digital assets, and most countries are promoting the acceptance, improvement and governance of digital currencies. Many people consider Singapore to be the center of digital asset development. Bitcoin ATMs are everywhere in Hong Kong. China currently accounts for 50% of the world's mining resources. South Korea is home to the top five Ethereum trading platforms. Japan has taken the boldest administrative action, recognizing Bitcoin as a legitimate payment method. In fact, digital assets are everywhere in Asia. It is undeniable that digital asset trading has been widely used in the entire Asian crypto market. At the same time, Asia is also the birthplace of industry giants such as Bibox, Huobi, OKEx, KuCoin and Binance.

Originally named “ Trading in Asia vs. Trading in Europe '' published on Medium

About the author

Aries Wang is a senior investor and serial entrepreneur in the blockchain field, co-founder of Bibox, and partner of BlockWater Capital, Korea's largest digital asset investment fund. He founded BiboxLab incubator and invested in companies including Cortex, CertiK, Fusion, Bezant, Fantom Projects such as Foundation, Carry Protocol, Cyber ​​Miles, and author of "Crypto Economy" have been included by authoritative institutions such as the Bundesbank.