Boerse Stuttgart Group continues to launch new features on its crypto trading app, BISON. This time: limit orders.
The app has announced the introduction of limit orders so its users can set a price at which they want to buy or sell a cryptocurrency for the period of 90 days. When the defined price limit is reached, the order is automatically executed – around the clock, seven days a week.
Ulli Spankowski, CEO of Sowa Labs, the subsidiary of Boerse Stuttgart Digital Ventures, said: “With limit orders, we are implementing a functionality frequently requested by our users. They can now trade in an even more targeted manner without having to constantly monitor the market. At the same time, trading at BISON remains as simple as possible.”
Sowa Labs is responsible for the development of the BISON app and the German mobile-based trading platform opened 24/7 in October 2019. Since then, a number of announcements have been made on behalf of the trading app, including the launch to all German investors and the addition of Bitcoin Cash to its offering.
The number of active users at BISON has more than doubled to around 460,000 since early 2021 and the trading volume in 2021 is around EUR 4.2 billion.
The crypto trading offering now boasts Bitcoin, Ethereum, Litecoin, Bitcoin Cash, and Ripple (XRP) in a mobile app which not only allows limit orders but also direct trading.
BISON makes its profit from the spreads between the buying and selling prices displayed. There are no additional costs or fees for users.
German BaFin-regulated EUWAX AG, a subsidiary of Boerse Stuttgart, is the trading partner behind BISON. This means that users buy and sell cryptocurrencies from and to EUWAX AG in each case.
Orders are executed directly against each other according to fixed rules. Open order books provide information about existing orders and the current market situation. In addition, financial services provider EUWAX AG, a subsidiary of Boerse Stuttgart GmbH, increases liquidity by providing buying and selling prices.
The trading venue is operated as a multilateral trading facility by Baden-Wuerttembergische Wertpapierboerse, which also is the operating company for the public stock exchange in Stuttgart.
blocknox, a subsidiary of Boerse Stuttgart Digital Ventures, is the cryptocurrency custodian for users at BISON on an escrow basis. The app is now open to 72 nationalities, who are welcomed to download the BISON app, provided that their principal place of residence is in the European Economic Area or Switzerland.