LedgerX, a derivatives platform of Bitcoin, introduced its brand new and simplified interface on Tuesday. This modification expects to attract all bitcoin investors on their holdings.
Juthica Chou, President and Chief Risk Officer of LedgerX, proclaimed that the newly introduced service will operate same as to its present bitcoin call options. It will offer investors with a streamlined user face.
Chou explained that the company has observed an increasing demand for people to earn from the bitcoin. So, the company is seeing participants come back to trading.
Basically, participants bet on bitcoin’s future price at a particular time. If the price reaches the participant’s estimated level within the specified time period then they earn through their investment. But, if the prices do not reach the estimated levels, participants still can receive fiat currency by trading their coins and gain the profit on that sale.
Chou proclaimed that it is the largest trade that the company has seen, which is attracting people to come in and trade in the same. More than half of the volume has been in this kind of trade.
Further, she explained that if bitcoin goes up then participants can sell their bitcoin at about double price. On the contrary, if it tanks, participants can also receive the exact same premium.
However, Chou cleared that the U.S. Commodity Futures Trading Commission decides the eligibility of contract participants, and only the eligible participants can trade in these call options. They need to undergo the same know-your-customer and application procedures as standard LedgerX participants.
Recently, Schmidt’s Naturals, a Unilever-owned personal care products company, has accepted bitcoin as an online payment option. Michael Cammarata, co-founder, and CEO of Schmidt’s, proclaimed that the company is offering consumers what they demand, going with the current trend of cryptocurrency.