BTC.sx Gets 500 BTC Investment from Seedcoin
Bitcoin derivative exchange BTC.sx has accepted 500 BTC (approx $240,000) of funding from Seedcoin, a Bitcoin startup incubator.
BTC.sx lets users place leveraged bets on the BTC/USD price, supporting both long and short positions. Deposits and account holdings are only denominated in bitcoins. Their product is CFD-like in the sense that no bitcoins or dollars are actually exchanged. Profits and losses, however, are calculated by a complex formula that includes the squaring of "points" and the inverse value of the closing price. The following illustrates a sample long position of "0.005 BTC per point", which requires a deposit of 5 BTC:
Thus, the proportion 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 itself is dependent upon multiple factors, and grows in proportion to losses but shrinks in proportion to gains.
The investment comes as the exchange continues to report strong growth, stating in its announcement that it has now brokered over $44 million worth of trades since inception, which is to be expected due to its highly leveraged trade structure. Earlier this year the to the platform and expanded its management team. Said Joseph Lee, Co-Founder and CEO of BTC.sx:
"This investment by the Seedcoin Fund is a testament to the proven growth – and validation among our users – for the distinctive platform BTC.sx offers. Our double-digit expansion in transactions further underscores this point: That we have a secure, reliable, fast and transparent means of facilitating Bitcoin-only trading of derivatives. We welcome this relationship with Seedcoin, and look forward to a profitable relationship between BTC.sx and Seedcoin."
For Seedcoin, whose fund is traded on Havelock Investments, this is their 6th bitcoin-denominated investment. Eddy Travia, Co-Founder and Chief Startup Officer of Seedcoin, said:
“Seedcoin is proud to support BTC.sx and its talented team of professionals. This investment represents the most significant financial commitment, to date, by the Seedcoin Fund. In fact, this opportunity gives Seedcoin a substantial position in the most reputable, popular and advanced derivative 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 for Bitcoin. We congratulate BTC.sx on their continued success and the global respect they have earned among Bitcoin traders.”
The advent of funding with BTC and trading the funding companies themselves in BTC is part of a larger push to get the cryptocurrency mainstream- both in practice and in people's minds. It also can create a positive loop, whereby increased usage raises its value, thus increasing potential earnings by companies traded with it.
Bitcoin derivative exchange BTC.sx has accepted 500 BTC (approx $240,000) of funding from Seedcoin, a Bitcoin startup incubator.
BTC.sx lets users place leveraged bets on the BTC/USD price, supporting both long and short positions. Deposits and account holdings are only denominated in bitcoins. Their product is CFD-like in the sense that no bitcoins or dollars are actually exchanged. Profits and losses, however, are calculated by a complex formula that includes the squaring of "points" and the inverse value of the closing price. The following illustrates a sample long position of "0.005 BTC per point", which requires a deposit of 5 BTC:
Thus, the proportion 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 itself is dependent upon multiple factors, and grows in proportion to losses but shrinks in proportion to gains.
The investment comes as the exchange continues to report strong growth, stating in its announcement that it has now brokered over $44 million worth of trades since inception, which is to be expected due to its highly leveraged trade structure. Earlier this year the to the platform and expanded its management team. Said Joseph Lee, Co-Founder and CEO of BTC.sx:
"This investment by the Seedcoin Fund is a testament to the proven growth – and validation among our users – for the distinctive platform BTC.sx offers. Our double-digit expansion in transactions further underscores this point: That we have a secure, reliable, fast and transparent means of facilitating Bitcoin-only trading of derivatives. We welcome this relationship with Seedcoin, and look forward to a profitable relationship between BTC.sx and Seedcoin."
For Seedcoin, whose fund is traded on Havelock Investments, this is their 6th bitcoin-denominated investment. Eddy Travia, Co-Founder and Chief Startup Officer of Seedcoin, said:
“Seedcoin is proud to support BTC.sx and its talented team of professionals. This investment represents the most significant financial commitment, to date, by the Seedcoin Fund. In fact, this opportunity gives Seedcoin a substantial position in the most reputable, popular and advanced derivative 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 for Bitcoin. We congratulate BTC.sx on their continued success and the global respect they have earned among Bitcoin traders.”
The advent of funding with BTC and trading the funding companies themselves in BTC is part of a larger push to get the cryptocurrency mainstream- both in practice and in people's minds. It also can create a positive loop, whereby increased usage raises its value, thus increasing potential earnings by companies traded with it.