Decentralized bitcoin exchange Bitsquare has released a new markets page, which gives the general public a view into exchange volume and statistics.
Bitsquare is an exchange which provides the ability for users to buy and sell bitcoins with each other using their matching engine; the exchange is not controlled by any company and is software downloaded so you can run a peer-to-peer platform to connect with other users on the network.
The new markets page pictured above, has various features including open and close positions, high and low prices, and exchange volume information. The chart is multi-currency where you can filter by various currencies such as EUR and USD. By filtering the charts by time-ranges and hovering, you can view all the exchange statistics. At the bottom of the page is trading history (last 100 trades) which shows the type and size of trade, what it was valued at, and how much it was traded for.
As you can see from the charts, volume is thin on the exchange at this time. This is in part due to the exchange being fairly new and not being well adopted yet, and also because there are limits on individual trading volume.
The exchange has received some criticism because of low volume and transactions being slower on the exchange versus other exchanges. Depending on your payment type, for example if you are using a SEPA transfer, it can take days for the transaction to settle. This isn’t a jab at Bitsquare, as it’s an inherit problem with fiat, but it still impacts how people trade on the exchange. Liquidity could be added to the exchange if the individual trade limits were relaxed, possibly with a reputation system where traders that meet good reputation guidelines can increase their trade volume.
Since there is no middle man between the buyer and the seller and one side of the trade is typically using a national currency (EUR, USD, etc), there is a longer delay. This delay makes it difficult to trade quickly on the exchange, which many traders prefer to maximize profits. For someone who is buying and holding, this isn’t problematic. For higher frequency trading, this type of latency won’t work well.
Bitsquare has been receiving some well deserved attention lately though, specifically related to the Bitfinex hack where millions of dollars have been lost. This type of attack can’t be performed on an exchange such as Bitsquare, because they don’t hold user funds, so the risk of a wide-scale hack is not there.