Factom reached a major milestone today, as the Poloniex crypto-currency exchange became the first platform to add a trading pair for Factoids, Factom’s software tokens. It was only a matter of time until one of the digital currency exchanges took the first step towards doing so since Factom’s Beta release.
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Investors have been eagerly awaiting the addition of Factoids on major cryptocurrency exchanges since the conclusion of the Factom token sale. Factoids trading on crypto-exchanges are likely to generate additional interest in the Factom platform while allowing new community members to purchase some tokens for future use.
In preparation for the launch of the Factoids trading market on Poloniex, the Factom team also released the binaries and installers for the project’s software client recently. The Factom client provides a convenient manner of storing and transferring Factoids. Additionally, step-by-step guides for the Factom client have been made available for Windows, OS X, and Linux.
Factoids are traded on Poloniex under the ticker – “FCT”, making the whole project more approachable for novice users. The ticker “FCT” coupled with “Factom Exchange” should make it a lot easier for anyone to find the software tokens on Poloniex. It’s not necessary to know all the technical aspects regarding Factom or Factoids to reap the benefits of this platform.
Factom Foundation CEO Paul Snow stated in a blog post:
“Poloniex has a talented team of developers and it was easy working with them on the Factom integration for their exchange.”
Poloniex’s decision to be the first cryptocurrency exchange to list Factoids could prove to be quite lucrative for all parties involved. Cryptocurrency exchanges have to be careful in terms of which new markets to add. Poloniex seems to have its ducks in a row when it comes to making the right choice this time.
With Factoids trading on one of the major cryptocurrency exchange platforms, it shouldn’t take too long for other exchanges to follow suit. At the time of publication, no other major cryptocurrency exchanges provided any indication of doing so. However, it won’t be surprising for such announcements to materialize in the coming weeks.
Poloniex CEO Tristan D’Agosta concluded:
“We are excited to add Factom to the Poloniex platform as part of our commitment to bringing innovative new projects to the market.”
Source: Factom Blog
Images courtesy of Factom, Poloniex, Shutterstock
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