BTC.sx, a recent start-up offering derivative-like trading in Bitcoin, is growing quickly.
Today, the company announced to its clients new features in its trading platform including trailing and adjustable stop orders, as well as sell limit orders. Speaking to BTC.sx in regards to also adding buy limit orders which are currently not yet available, a representative answered to DC Magnates that there is currently not enough of a demand for them.
The enhancements come as the platform has gained popularity and with it, increasing demands from its users. Since its launch in May 2013, btc.sx has surpassed $13.5M worth trading volume and 2000 active users. This follows their November announcement of cutting the minimum “trade per point” from 0.1 mBTC to 0.01 mBTC as the price of bitcoins soared.
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Additionally, the company reports that it is expanding its management team through the recent additions of CFO and CTO roles. with the hiring of James Turner and Vincent Hoong, respectively.
The platform is unique in being the first to only require deposits in bitcoins. Bets are then placed by users on the value of BTC in USD. The profit/loss is returned to the user as a function of the squared value of the closing price relative to the opening price. Thus, there are 2 levels of leverage: betting on margin and the exponential amplification of position change.
It also allows you to bet against BTC, an option not offered by many exchanges for those looking to short the digital currency straight out.