Multi-currency fiat-to-cryptocurrency exchange, BTSE, announced its 100x leveraged Bitcoin futures product at the MCC Conference (Magical Crypto Conference) in New York City. The new product features perpetual and time-based linear futures with Bitcoin and Tether as underlying assets.
DUBAI, United Arab Emirates, May 21, 2019 /PRNewswire/ — BTSE Exchange launches new futures trading platform, BTSE Futures, at the MCC Magical Crypto Conference in New York City. The MCC conference is organized by Litecoin founder Charlie Lee, early Bitcoin investor and influencer WhalePanda, Blockstream CSO Samson Meow, and Monero lead developer and Tari Labs founder Riccardo Spagni.
The new BTSE Futures platform received highly positive reception from avid traders, Bitcoin early adopters, and cryptocurrency enthusiasts at the conference. The team exchanged insights with industry experts from Lightning Labs, Blockstream, Litecoin Foundation, Bitcoin Core, and many media partners.
Support for Multiple Collateral as Margin
A defining characteristic of the new BTSE Futures platform is its support of fiat and cryptocurrency as margin collateral. Traders can post margin using a combination of both fiat and crypto when they trade USD-settled Bitcoin or Tether futures, without the need to make currency conversions. BTSE supports 7 major fiat currencies, including USD, EUR, JPY, and GBP, and 4 major cryptocurrencies, including BTC, ETH, LTC, and USDT.
Linear US Dollar Settled Futures
Although commonplace in the cryptocurrency space, inverse futures contracts, non-linear in nature, result in a complex mechanism of deriving profit and loss. Conversely, traditional futures contracts embrace a linear design. Every price movement of a contract translates directly into profit-and-loss proportionally.
BTSE Futures platform embraces a simple linear design, where profit and loss are settled in US Dollar. Users can convert profits into native currencies of choice with one click through platform’s multi-currency spot wallet or purchase USDT using the all in one order book.
The Future of Cryptocurrency Derivatives
Cryptocurrency investors can benefit from BTSE’s derivative products for hedging and speculation. “BTSE Exchange aims to become a leader in providing a suite of liquidity products to cryptocurrency traders and investors,” said Jonathan Leong, CEO of BTSE. “Our multi-collateral futures platform bridges a gap between traditional fiat-based traders and coin holders. Additionally, our multi-currency order book enables global users to trade in an aggregated order book with thick liquidity.”
BTSE Futures is scheduled to begin trading in June 2019.