DRIVE Markets Launches Collateral Trading for Cryptocurrencies
- The exchange now allows users to trade a specific cryptocurrency without buying it first
Cryptocurrency exchange DRIVE Markets announced the launch of collateral trading in digital assets this Friday.
The new service means that users of the exchange can do spot trading in Bitcoin, Litecoin, Bitcoin Cash, Ripple, and Ethereum.
Though this is not necessarily groundbreaking, one feature of the new trading solution is the ability to trade in a cryptocurrency without having first purchased it.
Currently, most exchanges require a user to have a specific cryptocurrency in their wallet before they can trade it.
Save time, save money
This can be time-consuming and, more importantly, expensive. Buying a cryptocurrency will incur transaction costs, exchange fees and the negative impact that any market maker’s spread will have on the buyer.
“With the addition of collateral to DRIVE, traders can deposit Bitcoin and immediately trade physical Ripple against the US dollar without having to first trade Bitcoin for Ripple,” said Ade Onigbanjo, Director of Product at DRIVE Markets.
“In real-time, DRIVE calculates the exchange rate between Bitcoin and Ripple and lets the trader place their Ripple USD trade. This provides a seamless and less costly experience for the trader and avoids them missing timely opportunities in the market.”
Launched earlier this month, DRIVE Markets is attempting to tap into the institutional cryptocurrency market.
After its initial launch, the exchange operator also teamed up with Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term management firm Gold-i to provide a suite of solutions for high-frequency traders looking to enter the cryptocurrency markets.
The firm provides access to cryptocurrency via MetaTrader’s 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, something that should appeal to the retail market.
Cryptocurrency exchange DRIVE Markets announced the launch of collateral trading in digital assets this Friday.
The new service means that users of the exchange can do spot trading in Bitcoin, Litecoin, Bitcoin Cash, Ripple, and Ethereum.
Though this is not necessarily groundbreaking, one feature of the new trading solution is the ability to trade in a cryptocurrency without having first purchased it.
Currently, most exchanges require a user to have a specific cryptocurrency in their wallet before they can trade it.
Save time, save money
This can be time-consuming and, more importantly, expensive. Buying a cryptocurrency will incur transaction costs, exchange fees and the negative impact that any market maker’s spread will have on the buyer.
“With the addition of collateral to DRIVE, traders can deposit Bitcoin and immediately trade physical Ripple against the US dollar without having to first trade Bitcoin for Ripple,” said Ade Onigbanjo, Director of Product at DRIVE Markets.
“In real-time, DRIVE calculates the exchange rate between Bitcoin and Ripple and lets the trader place their Ripple USD trade. This provides a seamless and less costly experience for the trader and avoids them missing timely opportunities in the market.”
Launched earlier this month, DRIVE Markets is attempting to tap into the institutional cryptocurrency market.
After its initial launch, the exchange operator also teamed up with Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term management firm Gold-i to provide a suite of solutions for high-frequency traders looking to enter the cryptocurrency markets.
The firm provides access to cryptocurrency via MetaTrader’s 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, something that should appeal to the retail market.