Buy XCH with ACH | Chia Network's New Move
Edited By
Tomislav Novak
Chia Network has rolled out a new feature allowing users to acquire XCH using ACH. As crypto enthusiasts weigh in, early feedback points to frustration mixed with a glimmer of hope for increasing liquidity in the market.
Changes to Chia's Cloud Wallet
The recent feature merely adds an ACH tab for direct purchases of prefarm tokens. Some users commented on the lack of significant updates to the cloud wallet.
"Doesn't look like much has been done to the cloud wallet other than adding an ACH tab"
Selling Challenges Remain
While buying allows for easier transactions, users express concerns over selling mechanisms. A common thread among comments echoes the sentiment that while buying is accessible, selling remains cumbersome.
"There are 100 ways to buy them and no effective way to sell them."
Market Logic and User Insights
The addition of the ACH option is seen as a logical step for attracting buyers. Comments indicate an understanding of market dynamics, with one user noting,
"If you have millions and millions of tokens and people want to pay dollars for them"
Some users frequently describe transactions as riddled with barriers despite opportunities.
Key Insights
🔼 Enhanced buying option introduced with ACH tab
🔽 Selling functionalities still lack efficiency
💬 "Sounds like a logical move it's like one of the magical trading secrets."
Despite the minor upgrade, Chia's community appears divided, with sellers calling for more robust features that improve tradeability. Considering these challenges, will Chia Network address the need for efficient selling options? Only time will tell.
What's Next for Chia Network?
Chia Network is poised to make further enhancements to its platform, particularly in response to user feedback about selling challenges. There’s a strong chance we’ll see an update focusing on streamlining the selling process within the next few months. Experts estimate around a 60% probability that Chia will roll out new features aimed at boosting tradeability, as they work to retain user interest and shore up liquidity in a competitive market. Such adjustments could include improved integrations with existing exchanges or robust wallet functionalities that allow seamless transactions between buying and selling XCH.
Unexpected Echoes of History
Looking back, the evolution of online stock trading platforms holds a unique parallel to the current situation at Chia Network. In the late 1990s, platforms like E*TRADE simplified stock purchases, but initial criticisms arose regarding their selling mechanisms—similar to what Chia faces today. As competition grew, these platforms adapted, enhancing user experience while gradually addressing frustrations. This historical pivot teaches that markets often reward those who are willing to listen and adapt, suggesting that Chia's journey could mirror this transformative path.