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Cryptocurrencies

LedgerX platform upgrades Bitcoin trading options

Wednesday 16 May 2018 | 10:31 AM CET

LedgerX, a bitcoin derivative platform, has launched an interface that allows Bitcoin investors to earn interest on their holdings.

The service operates similarly to its existing Bitcoin call options with a streamlined user face for investors, LedgerX representatives said for CoinDesk.

Essentially, participants place a bet on what Bitcoin’s price will look like at some point in the future. If the price grows to that level within a certain timeframe, the participants recoup their investment. In the event that the price does not elevate, participants can sell their coins and receive fiat currency from the profit on that sale.

Only eligible contract participants, as defined by the US Commodity Futures Trading Commission, can trade in these call options, however. According to the Bitcoin derivative platform, users need to undergo the same KYC and application process as standard LedgerX participants.

More: Link
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