The digital currency derivatives platform Bit.com announced in December 2020 that it has joined the Loop Alliance initiated by Cobo Custody (Cobo Custody), an enterprise-level digital asset wallet development and custody service platform. Bit.com is another company to become Loop after Deribit. The world's leading derivatives trading platform for alliance members.
Here comes the user benefits of Bit.com:
Transfer and trade digital currency from Bit.com to other member companies in the Loop Alliance, you can enjoy the experience of 0 handling fee and second account!
The Loop Alliance currently has more than ten members including Derbit and Cobo:
Bit.com COO Daniel Yan said that we aim to provide professional and efficient derivatives services for Bit.com users. For example, under the recent market conditions, the network is relatively slow. At this time, the advantage of Loop Alliance 0 transaction fee to the account in seconds is will be more obvious. We hope to promote mutual development through cooperation with top teams like Cobo.
Li Yao, head of Cobo Custody and senior vice president of Cobo, said that the addition of Bit.com makes the Loop alliance ecosystem more complete. He expects Bit.com to build more convenient transfer channels with other member companies in the alliance ecosystem and explore ecological cooperation. The possibility of boundaries, and jointly reconstruct the digital currency transaction ecology.
How to transfer from Bit.com to other members of Loop Alliance? Let's take the Cobo wallet as an example.
Deposit Bitcoin from Cobo Wallet to Bit.com
Register Login Bit.com
Get the receiving address at Bit.com
Go to Bit.com Assets page, click "Deposit"--"Switch to Loop Alliance", and then get your Bitcoin receiving address on Bit.com
Withdraw from Cobo Wallet
1) Open the Cobo wallet (download link: cobo.com), click to enter the "Assets" page, select BTC, and click "Send"
2) After entering Bit.com's Bitcoin Loop alliance address, you can see the page display:
Loop alliance transfer, no miner fee to arrive in seconds!
Isn't that cool!
3) Then enter the transfer amount, transfer password and other information, and the transfer is complete!
Transfer Bitcoin from Bit.com to Cobo Wallet:
Get the receiving address in the Cobo wallet
Open the Cobo wallet (download link: cobo.com), click to enter the "Assets" page, select BTC, and click "Receive" to obtain the Cobo wallet receiving address
Note: Cobo wallet does not distinguish between Loop addresses and non-Loop addresses. The addresses you obtain in Cobo Wallet are all Loop Alliance addresses.
Withdraw from Bit.com
After entering the Bitcoin address of the Cobo wallet, you can see that the handling fee is 0, then enter the withdrawal amount and password, and the transfer is complete!