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In other words, it would like to help you buy, sell and invest in bitcoin exchanges kinda like and investor buys and sells stock on E-Trade. Co-founder Akbar Thobhani left his job at Airbnb to create this platform. However, he soon found that using bitcoin was even more expensive than using credit cards. So he started thinking that if he could find a way to compare prices this would help drive widespread adoption for the bitcoin market. There are similar systems that directly buy and sell.
CampBX , based in Atlanta, is one of many hundreds of exchanges out there that allow buying and selling. The key thing to understand here is that SFOX does not actually allow you to buy or sell bitcoin directly, like CampBX or other exchanges.
Rather, it is a platform which facilitates finding the best price on these exchanges. Prices can vary wildly, depending on the exchange used. However, this app merely shares information about the different prices on different exchanges.
It does not allow someone to actually buy or sell bitcoin. This is what makes SFOX unique in the market. It actually finds the prices on different exchanges and then, like a stock exchange platform, facilitates the trade. It also allows you to use standard equity trading features like limit orders, just like someone might find on a platform like E-Trade or Charles Schwabb. Another thing that SFOX attempts to solve is the location of where the exchanges exist.
The now infamous Mt. Gox was one such exchange that has faced this very issue. Department of Homeland Security issued a warrant to seize money from Mt. The Tokyo, Japan-based exchange was at one point handling 70 percent of all bitcoin transactions. We asked around to a few investors during the breaks which company they were most impressed with. Many of them mentioned SFOX. The company is now in several talks with potential investors.
Thobani hints at possibly adding other cryptocurrencies such as dogecoin and litecoin to the platform. He also says SFOX could go international at some point. Trading in SFOX is currently by invitation only.