PROVIDENCE, Mahe, Seychelles, May 6, 2020, 9:00 AM UTC – Bitfinex Derivatives* offers a derivatives platform accessible through Bitfinex, a state-of-the-art digital asset trading platform. Bitfinex Derivatives is the first derivatives platform to offer Bitcoin Dominance (BTCDOM), a perpetual swap enabling investors to take a position on the market weighting of the world’s biggest cryptocurrency.
Referencing seven leading cryptocurrencies in the Bitcoin Dominance Index, a metric that traders can use to gauge bitcoin’s value relative to that of the broader digital currency market, BTCDOM enables traders to speculate on bitcoin’s performance against other digital assets.
Futures trading for BTCDOMF0:USTF0 began on 06/05/2020, 9:00 AM UTC.
The availability of the BTCDOM perpetual swap on Bitfinex Derivative’s platform provides traders with the capacity to obtain exposure to bitcoin without it being fully directional, as is the case when taking a long or short futures position on the world’s biggest cryptocurrency. As a contract that enables holders to speculate on the relative dominance of bitcoin, BTCDOM is more capital efficient and cost effective than an outright long or short futures trade, while also being less volatile.
Bitfinex Derivatives understands it is the first derivatives platform to offer the Bitcoin Dominance perpetual swap. This product will provide Bitfinex Derivatives’ users with an additional avenue to obtain exposure to the world’s biggest cryptocurrency, and further cements Bitfinex Derivative’s status as the go-to platform for traders deploying highly sophisticated investment strategies.”
Futures contracts enable traders to buy or sell assets at a specified price and date in the future, providing a means of hedging and offsetting risks, as well as an opportunity to multiply profits. Bitfinex Derivatives platform and products are only available in eligible jurisdictions and are exclusive to verified users.
*The derivatives platform is provided by iFinex Financial Technologies Limited. References to Bitfinex Derivatives in this post are references to iFinex Financial Technologies Limited.
This press release is intended for journalists. It is not intended to be broadly disseminated.
This press release is not an offer to sell or the solicitation of an offer to purchase any financial products. iFinex Financial Technologies Limited will only allow access to its derivatives platform pursuant to its derivatives terms of service available (as at the date of this press release) at Bitfinex Derivative Terms.
Joe Morgan
Senior PR Manager
joe.morgan@bitfinex.com
Launched in September 2019, iFinex Financial Technologies Limited offers a derivatives platform that is accessible through Bitfinex, a digital asset trading platform offering state-of-the-art services for digital currency traders and global liquidity providers. Visit Bitfinex to learn more.
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