Coinfloor to Delist Ethereum to Focus on Bitcoin

Michael LaVere
  • The UK's longest-running crypto exchange Coinfloor will be delisting ethereum and bitcoin cash in Q1 2020.
  • The exchange intends to focus solely on BTC and growing the bitcoin economy.

Coinfloor, the United Kingdom’s longest-running crypto exchange, has announced plans to de-list ethereum and focus solely on bitcoin trading moving forward.

 According to an official blog post published Dec. 17, the exchange aims to offer only bitcoin services beginning Q1 2020.

The statement reads,

We are excited to announce that Coinfloor will focus on providing Bitcoin only services from the 3rd of January 2020, on the 11th anniversary of Bitcoin’s launch. The decision will allow Coinfloor to provide a richer set of services for the world’s leading cryptocurrency while maintaining focus on simplicity.

 While the platform is also de-listing bitcoin cash, Coinfloor cited the uncertainty involved in hard forks as a reason to shift focus to a single currency. The decision comes just ahead of the launch for Ethereum 2.0, planned for early 2020, which will shift the currency’s algorithm from Proof-of-Work (PoW) to Proof-of-Stake (PoS). 

Obi Nwosu, Founder and CEO of Coinfloor, said of the decision to focus solely on bitcoin, 

Since I first came across Bitcoin in 2011, I have seen it grow to become a mature proven currency. No other cryptocurrency currently comes close to Bitcoin’s track record, industry support, or brand recognition, so focusing on Bitcoin made perfect sense.

Coinfloor says it will expand its product offering in 2020 to focus on its “long-term vision” of being a leading financial services provider that facilitates the bitcoin economy.

Featured Image Credit: Photo via Pixabay.com