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Competitions between crypto exchanges in the Norwegian market are intensifying, with K33 boss Torbjørn Bull Jenssen just over a week ago inviting catfight on X/Twitter by claiming that K33 is the best on price, fees and number of cryptocurrencies. As of this week, the rates of all the Norwegian crypto exchanges plus a number of international exchanges are out on Kryptoppris - in real time - so that crypto people can judge for themselves.
It was Friday just over a week ago that Torbjørn Bull Jenssen in K33 went out and shared this tweet on X/ Twitter.
<blockquote class="twitter-tweet"><p lang="no" dir="ltr">You can't get anywhere if you're too humble. With the best prices, no fees for withdrawals or trading, and the most cryptocurrencies in Norway, I would venture to claim that we have the best exchange service in Norway for those who trade for larger amounts! </p></blockquote><br><a href="https://twitter.com/TorbjrnBullJens/status/1745816439603286094?ref_src=twsrc%5Etfw">We'll be adding 7 new cryptocurrencies soon and... — Torbjørn (@TorbjrnBullJens) January 12, 2024<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></a>
We at Kaupr like a cat fight too, so we retweeted the tweet, inviting the other Norwegian crypto exchanges to respond:
<span><blockquote class="twitter-tweet"><p lang="no" dir="ltr">No crypto winters to track at <a href="https://twitter.com/TorbjrnBullJens?ref_src=twsrc%5Etfw">@TorbjrnBullJens</a> and <a href="https://twitter.com/K33HQ?ref_src=twsrc%5Etfw">@K33HQ</a> obviously, and also no modesty: “Best rates”, “no fees” for withdrawals/trades, “most cryptocurrencies” and “Norway's best exchange service”. </p></blockquote></span><br><br>As an independent media, we in <a href="https://twitter.com/kaupr_io?ref_src=twsrc%5Etfw">@kaupr_io</a> allow to ask: What says... <a href="https://t.co/hRnWHVd8zy">https://t.co/hRnWHVd8zy</a> — Kaupr.io - news and events (@kaupr_io) <a href="https://twitter.com/kaupr_io/status/1745864399821168816?ref_src=twsrc%5Etfw">January</a> 12, 2024<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
Quite quickly (Friday, January 12, that is) Thuc Hoang replied in Firi
“Competition is good, and what one puts behind “best” is very subjective. For us, it is most important that we can offer our customers good services and help them throughout their journey. This has proven to be a very good strategy for us, but it will be exciting to see others try other strategies.
We do not distinguish between “rich” or not “rich” customers. They shall meet there and as they are. Everyone has different needs and we are a keystroke away from providing help via chat.
And finally, I want to strike a punch for that volume as a good metric on whether the strategy is working or not. It's not immaterial, it says a lot about your service depending on the size of the company and customer base. Looking forward to seeing more data on an ongoing basis instead of quarterly reports.”
While Torkel Rogstad in Bare Bitcoin answered like this:
“Best” almost gets to be up to the market to define! On that occasion: would have been cool with open volume numbers! Then you get a little clue as to what this somewhat intangible market is actually saying..”
Then it became quiet, until Monday of this week, when all the Norwegian crypto exchanges' rates are available in real time on the crypto price website. In addition to the Norwegian Firi, NBC, K33, Bitcoin Only, Bitcoin and Juju, Crypto Price also displays the prices of Binance, Coinbase & Coinbase Pro, Kraken Pro, KuCoin.
After some back and forth, on whether or not K33's courses were in real time, Torbjørn tweeted: “Like that. Then the prices are in real time!” , “Largest selection and best prices”, and then “And clearly the best spread! If you want to trade actively, predictable liquidity and good prices are a must.”
Along the way, Thuc Hoang in Firi had tweeted:”@firiapp @firi_dk Our focus is to provide good solutions for the people. Get started in less than 2 minutes with us.”
Kaupr has also asked Bull Jenssen in K33 if they want to make their trading volume visible via Crypto Price, similar to Firi, Bare Bitcoin, NBX and Juju. But he believes it quickly becomes a mistake to focus on volume: “Volume and volume are not the same thing. A bot can trade back and forth and create lots of volume relative to e.g. one that buys for a larger amount once. You don't see Arctic or Pareto reporting on volume at their place (that I know). There is also information that may be important for us to keep volume confidential in connection with negotiations with our partners and suppliers,” says Bull Jensen, who concludes: “For the customer, it is irrelevant how much others trade for as long as we set good prices. On an exchange, volume matters, because there are other customers who are your source of price, unlike with a broker.”
At Kaupr, we leave it to the market and the customers themselves and judge, among other things by: check the current prices on kryptopris.no, but of course also by familiarizing themselves with who are their primary customer groups and what the various crypto exchanges can offer in terms of expertise, products and services. With MiCA in mind, we also expect that there will be increased competition in Norway, including from new international players, but also that more of the Norwegian crypto exchanges may be able to assert themselves internationally.
Competitions between crypto exchanges in the Norwegian market are intensifying, with K33 boss Torbjørn Bull Jenssen just over a week ago inviting catfight on X/Twitter by claiming that K33 is the best on price, fees and number of cryptocurrencies. As of this week, the rates of all the Norwegian crypto exchanges plus a number of international exchanges are out on Kryptoppris - in real time - so that crypto people can judge for themselves.
It was Friday just over a week ago that Torbjørn Bull Jenssen in K33 went out and shared this tweet on X/ Twitter.
<blockquote class="twitter-tweet"><p lang="no" dir="ltr">You can't get anywhere if you're too humble. With the best prices, no fees for withdrawals or trading, and the most cryptocurrencies in Norway, I would venture to claim that we have the best exchange service in Norway for those who trade for larger amounts! </p></blockquote><br><a href="https://twitter.com/TorbjrnBullJens/status/1745816439603286094?ref_src=twsrc%5Etfw">We'll be adding 7 new cryptocurrencies soon and... — Torbjørn (@TorbjrnBullJens) January 12, 2024<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></a>
We at Kaupr like a cat fight too, so we retweeted the tweet, inviting the other Norwegian crypto exchanges to respond:
<span><blockquote class="twitter-tweet"><p lang="no" dir="ltr">No crypto winters to track at <a href="https://twitter.com/TorbjrnBullJens?ref_src=twsrc%5Etfw">@TorbjrnBullJens</a> and <a href="https://twitter.com/K33HQ?ref_src=twsrc%5Etfw">@K33HQ</a> obviously, and also no modesty: “Best rates”, “no fees” for withdrawals/trades, “most cryptocurrencies” and “Norway's best exchange service”. </p></blockquote></span><br><br>As an independent media, we in <a href="https://twitter.com/kaupr_io?ref_src=twsrc%5Etfw">@kaupr_io</a> allow to ask: What says... <a href="https://t.co/hRnWHVd8zy">https://t.co/hRnWHVd8zy</a> — Kaupr.io - news and events (@kaupr_io) <a href="https://twitter.com/kaupr_io/status/1745864399821168816?ref_src=twsrc%5Etfw">January</a> 12, 2024<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
Quite quickly (Friday, January 12, that is) Thuc Hoang replied in Firi
“Competition is good, and what one puts behind “best” is very subjective. For us, it is most important that we can offer our customers good services and help them throughout their journey. This has proven to be a very good strategy for us, but it will be exciting to see others try other strategies.
We do not distinguish between “rich” or not “rich” customers. They shall meet there and as they are. Everyone has different needs and we are a keystroke away from providing help via chat.
And finally, I want to strike a punch for that volume as a good metric on whether the strategy is working or not. It's not immaterial, it says a lot about your service depending on the size of the company and customer base. Looking forward to seeing more data on an ongoing basis instead of quarterly reports.”
While Torkel Rogstad in Bare Bitcoin answered like this:
“Best” almost gets to be up to the market to define! On that occasion: would have been cool with open volume numbers! Then you get a little clue as to what this somewhat intangible market is actually saying..”
Then it became quiet, until Monday of this week, when all the Norwegian crypto exchanges' rates are available in real time on the crypto price website. In addition to the Norwegian Firi, NBC, K33, Bitcoin Only, Bitcoin and Juju, Crypto Price also displays the prices of Binance, Coinbase & Coinbase Pro, Kraken Pro, KuCoin.
After some back and forth, on whether or not K33's courses were in real time, Torbjørn tweeted: “Like that. Then the prices are in real time!” , “Largest selection and best prices”, and then “And clearly the best spread! If you want to trade actively, predictable liquidity and good prices are a must.”
Along the way, Thuc Hoang in Firi had tweeted:”@firiapp @firi_dk Our focus is to provide good solutions for the people. Get started in less than 2 minutes with us.”
Kaupr has also asked Bull Jenssen in K33 if they want to make their trading volume visible via Crypto Price, similar to Firi, Bare Bitcoin, NBX and Juju. But he believes it quickly becomes a mistake to focus on volume: “Volume and volume are not the same thing. A bot can trade back and forth and create lots of volume relative to e.g. one that buys for a larger amount once. You don't see Arctic or Pareto reporting on volume at their place (that I know). There is also information that may be important for us to keep volume confidential in connection with negotiations with our partners and suppliers,” says Bull Jensen, who concludes: “For the customer, it is irrelevant how much others trade for as long as we set good prices. On an exchange, volume matters, because there are other customers who are your source of price, unlike with a broker.”
At Kaupr, we leave it to the market and the customers themselves and judge, among other things by: check the current prices on kryptopris.no, but of course also by familiarizing themselves with who are their primary customer groups and what the various crypto exchanges can offer in terms of expertise, products and services. With MiCA in mind, we also expect that there will be increased competition in Norway, including from new international players, but also that more of the Norwegian crypto exchanges may be able to assert themselves internationally.
