Bitcoin Derivative Startup BTC.sx Expands Features to Meet Growing Demand
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 Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term 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.
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 Leverage In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders Read this Term: 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.
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 Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term 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.
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 Leverage In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders In financial trading, leverage is a loan supplied by a broker, which facilitates a trader in being able to control a relatively large amount of money with a significantly lesser initial investment. Leverage therefore allows traders to make a much greater return on investment compared to trading without any leverage. Traders seek to make a profit from movements in financial markets, such as stocks and currencies.Trading without any leverage would greatly diminish the potential rewards, so traders Read this Term: 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.