Bitinka tells us about its adoption of SegWit, Bitcoin Cash and Bitcoin Gold

BitInka, one of the largest exchange houses in Latin America, recently announced the activation of SegWit in its Bitcoin portfolio services. He also decided to enable negotiations with Bitcoin Cash and Bitcoin Gold within the platform. New services that seek to offer more variety in the negotiations, as well as a higher quality in transactions made within the network.

The announcement was made officially through BitInka's blog, where its administrators verified that both additions to the services of transfer and purchase-sale of cryptocurrencies have the objective of increasing the effectiveness of operations in the network, updating the offer of your market and please the requirements of its users.

We contacted directly Walter Alejandro Salmeri, head of marketing (CMO) BitInka, who explained the details about the updates that the platform has made for this month of May, as well as the initiatives that are brewing within the company for future applications :

Salmeri stressed that SegWit is one of the functions of the Bitcoin network that had been most requested by BitInka users, a request that was constantly studied by the exchange firm in order to implement it at the most convenient time for its customers and the platform:

Segwit is a scalability solution for bitcoin operations, something that many users have been requesting. We wanted to wait for the most opportune moment to implement it and study well the best way to do it. This solution exists since the middle of last year. Being a very technical aspect for the general public, we look for the most friendly way to implement it. That has taken time, especially considering our tight development schedule.

In this way, the activation of SegWit - in addition to fulfilling the wishes of the clientele - is a function that is considerably useful for the BitInka network when it comes to making transactions faster and cheaper, thus increasing the efficiency of the services offered. the exchange house.

"In practical terms, the advantages are very clear: SegWit allows transactions in bitcoins faster and cheaper," says Salmeri via email. However, it also reminds users that these benefits can only be enjoyed by those users who use portfolios that support SegWit, since otherwise the transfer is made under the traditional parameters of the blockchain.

In order to enjoy these updates, it is important that the user already uses a portfolio that supports SegWit, since this option is only available if the user has this. It is very important: if the user deposits from a SegWit portfolio or retires to a SegWit portfolio, he will have these benefits. If not, the transfer in blockchain will be done with the traditional costs and times, greater than with the use of SegWit.

Due to the complications that this system can generate, BitInka devised a friendly solution to the activation of SegWit in its platform, automating the process. "The user must do nothing but place the address of destination or origin and the platform will identify by itself what kind of operation it is, thus simplifying the process," said the CMO of the platform.

In view of the characteristics that SegWit offers to the transfers, BitInka is in an advantageous position compared to other exchange houses in the region that still do not support this function. In this sense, the business of exchanges could be favored considerably in the Latin American market with a view to attract new potential users and keep the most loyal customers of the network satisfied.

We are one of the few platforms that supports transactions with SegWit in the region, which places us in an advantageous position. The incorporation of this solution to our operations is very recent, which is why we still have to wait to see the impact in hard numbers. Still, expectations and projections are very good.

Also, SegWit properties are not anchored to a single region, much less in a territorial location, so all the transactional benefits offered by this function can be enjoyed anywhere in the world where the network is located. "In terms of scope, this is a solution not only for users in Latin America but for any region where we have a presence," said Walter Salmeri.