Komodo (KMD) joined the Bitpanda selection, along with IOTA to be added soon, the Austria-based exchange announced. This gives the coin, which is one of the most technologically advanced assets, a direct fiat on-ramp in USD and EUR. Bitpanda, however, is not a trading platform, and has limitations on the orders, withdrawals, and purchases.
Komodo (KMD) has fallen to $2.12, on almost negligible volumes. In the past, KMD has risen to above $12 on promises of an airdrop. But in the past three months, KMD slid from 38,000 to around 31,000 Satoshi, while not being able to hold above the $4 peak. KMD is one of the assets heavily affected by the bear market.
At the moment, the majority of KMD trading happens on the Asian markets, with Binance the leading exchange. However, volumes are below $500,000 and KMD remains one of the lesser-known assets.
Recently, KMD was added to the Blockfolio signal service beta version, again spreading the knowledge of the coin and its market performance.
But the Komodo network remains one of the most technologically promising, already running a DEX that uses atomic swaps between blockchains to achieve trades. Komodo uses a Delayed Proof-of-Work mechanism, using the Bitcoin network and its blocks to secure its transactions, thus achieving security and the protection of a high hashrate, plus energy efficiency.
Komodo performs its operations by using side chains, and creating the valid distributed ledger through a system of Notary Nodes. Then, the state of the ledger is verified within a Bitcoin block. The Komodo digital asset also allows for anonymous payments.
After an airdrop of PAN tokens, and the launch of Bitpanda 2.0, the site will plan regular additions of new coins available for direct purchase through debit card. The other up and coming offering will be IOTA.
The service has on-site wallets, but also offers low-cost, fast withdrawals of coins. The new coins will be added with a trade-only wallet for temporary storage, with sending options between Bitpanda users. However, those wallets remain one of the less secure options for storing crypto coins.