Bitcoin Bakkt is a digital asset exchange founded by Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange (NYSE). The Bakkt platform is designed to enable consumers and institutions to buy, sell, store and spend digital assets.
The exchange is intended to provide a regulated and secure way to trade Bitcoin and other digital currencies.
This warning note is to all users of Bitcoin Bakkt:
Be aware that Bitcoin Bakkt is not regulated or backed by any government or financial institution, so there may be potential risks associated with using this platform. As with any digital asset, it is important to be aware of the security risks involved and take steps to protect your funds from malicious actors. Additionally, it is important to stay up-to-date on the latest news and developments in order to make informed decisions when trading. Furthermore, please do your own research and due diligence before engaging in any transaction on Bitcoin Bakkt.
The Bakkt platform was announced in August 2018 and is expected to launch in 2019. The exchange will be based on ICE’s existing infrastructure, which includes the NYSE, ICE Clear US and ICE Futures US.
The launch of Bakkt is seen as a positive development for the cryptocurrency industry as it will provide a more mainstream way to buy, sell and hold digital assets. However, some critics have raised concerns about the lack of transparency around the project.