Z.com Coin the much anticipated cryptocurrency exchange of Japan’s largest forex broker GMO Click Securities, has finally launched its service, to overwhelming traffic, which eventually brought the platform down, reports the site Brave New Coin.
Initially, the platform was due to launch operations on May 24, but the company delayed the opening by a week over bitcoin demand concerns. Trading was eventually started on June 3, but shortly thereafter the high levels of traffic brought the site down.
“Due to the concentration of access after the site was launched today at 20 o’clock, some customers are unavailable, so we are currently in urgent maintenance. We are sorry for the inconvenience, but please wait for a while until the end of maintenance”, the company said in a statement.
Z.com Coin’s platform is modeled after GMO Click Securities’ forex trading platform and offers two types of accounts: Simple and Full Access. The Simple account works as a cryptocurrency wallet where they can buy bitcoins, make deposits and withdrawals. The Full Access account gives access to two markets. On the first one clients can deposit Japanese yen and trade cryptocurrencies for fiat currencies and vice versa, including on margin. The other one is a more traditional bitcoin exchange where clients can buy bitcoins and put them in their wallet.
The company plans to add other cryptocurrencies like Ethereum in the future. There are also plans for mobile applications, with the one for Android devices penciled in for June 30, 2017.