Bitcoin Cash is following Bitcoin’s footsteps, in having it’s very own Futures Contract. Bitcoin Cash’s Futures Trading will be by the cryptocurrency exchange called Crypto Facilities based in the UK. It will be in BCH/USD conversions.
Crypto Facilities already offers Bitcoin (BTC), Ripple (XRP), Ether (ETH) and Litecoin (LTC) futures and thus adding Bitcoin Cash (BCH) further expands its derivatives offering. Crypto Facilities is also responsible for providing CME Group with CME CF Bitcoin Reference Rate which powers their Bitcoin Futures, the CME CF Ether- Dollar Reference Rate, and even the Real-Time Index. Crypto Facilities is noted for their efficiency in offering a trading platform for both individuals and institutions in a transparent, secure manner available for 24 hours in 365 days a year.
Timo Schlafer, CEO of Crypto Facilities spoke about the Bitcoin Cash Future trading-
“We are pleased to be expanding our cryptocurrency derivatives offering with the launch of BitcoinCash futures. BCH is a top five coin with a market capitalisation of around $10 billion, and we expect our new contracts to spur the evolution of the crypto markets by bringing greater liquidity and transparency to the digital asset class.”
Roger Ver, known as ‘Bitcoin Jesus’ known for being a prominent member of Bitcoin Cash even commented on the news-
“This is another example of how BitcoinCash is proving itself to be one of the most innovative and useful cryptocurrencies in the world.”
What will the BCH/USD Futures allow? Investors can take long and short positions in the BCH thus allowing them to benefit when the market is volatile. Investors can proportionate their hedging of risks to Bitcoin Cash more effectively.
A Twitter user by the name of ‘Vandelay Blockchain Industries’ commented on a tweet of the news of Bitcoin Cash having its own Futures Contact.
— CoinDesk (@coindesk) August 17, 2018
The tweet follows several other cryptocurrency enthusiasts on shorting Bitcoin Cash in the wake of the crashing markets.
Author: Amrit Mirchandani