The latest move of the exchange is in the line of the expansion of Bitfinex providing sophisticated trading opportunities to attract the crypto hedge funds and reputed trading firms across the world. The exchange is gaining the confidence of the large crypto community, including crypto hedge funds as well as High-Frequency Trading firms.
BitFinex, which is owned and operated by iFinex Inc., will facilitate investors as following:
Trading of futures will start from March 07, 2020, on Tether Gold/Tether pair. The perpetual swap pair will permit up to leverage of 100x. As per the rules of verification, the verification of the account won’t be necessary for transaction among various cryptocurrencies on Bitfinex. The exchange provides two levels of the verification process to complete the process of deposits and withdrawals of stablecoins (like Tether).
Paolo Ardoino, CTO of the exchange explained the latest launch as the best example of an arbitrage opportunity, which will sure embark the gates for new investments in crypto space
One XAUT which was issued by TG Commodities Ltd. represents one troy fine ounce of the gold on a London Good Delivery gold bar.
Futures contracts are one of the financial instrument of the crypto markets which allow the traders to buy and sell coins at a pre-decided price and date in the future, provides means for hedging and negating the risks associated and also create the favourable conditions for book profits. The trading futures will be limited to a few jurisdictions and verified users only.
Thus, Bitfinex and Tether are continuously accelerating the crypto market even when they face class-action lawsuits for market manipulation.
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