Growing global Bitcoin exchange Ruxum set to start trading European currencies [Invites]

Despite having been around for a couple of years, Bitcoin has really taken off this year.

The peer-to-peer currency is being billed by some as having the potential to replace the current international monetary system. You can read more about what Bitcoin is, how it started, where it’s going and its problems in our guide here. One important part of the scene are the exchanges that allow you to easily convert you ‘normal’ currency into Bitcoin. Now fast-growing exchange Ruxum is set to expand into Europe with support for Euros, Pounds Sterling and Swiss Francs.

While the Bitcoin world is generally characterised by a ‘rough and ready’ developer-led culture that doesn’t tend to concentrate on user experience, Ruxum has focused on building an attractive interface that makes it easier to buy and sell the currency. It’s not recommended that you dive in there without knowing what you’re doing but once you have an understanding of Bitcoin, Ruxum is worth looking at.

Still in private beta, Ruxum  started by dealing in US Dollars and tomorrow will become the first Bitcoin exchange to start trading in a number of Asian currencies (JPY, SGD, HKD and THB). From 10 August, it will become the first exchange to trade Swiss Francs, in addition to adding Euros and Pounds Sterling. “With all these trading markets consolidated in one exchange for the first time, it will give customers and traders brand new opportunities for Bitcoin arbitrage across currencies and global markets,” notes Ruxum CEO Chad Pankewitz.

“Bitcoin itself is inherently global, it crosses social and language differences allowing anyone, regardless of location or nationality to easily make payments to anyone else in the world. We want to facilitate, extend and enhance this concept by providing a global, multi-currency exchange where people can buy, sell and trade Bitcoin around the world with ease.”

Pankewitz doesn’t have a set date for when the exchange will be open to the public, stating “We are lucky to have an exclusive and very high quality group of top Bitcoin traders involved in our private beta. Before we open up to the public more, we want to grow our current community of Bitcoin traders, buyers and sellers. To start, we have recently issued invites to all current Ruxum members so they can invite their friends and trusted Bitcoin colleagues.” Trading is currently free during the private beta.

If you know enough about Bitcoin trading to give Ruxum a go, we have 500 invites to give away to our readers. Simply go to https://x.ruxum.com, click ‘sign up’ and use the code thenextweb” (without the quotes).