Two new derivatives products for cryptocurrency trading Bitcoin and Ethereum have appeared on the Bitfinex crypto exchange. Derivatives are paired with USDT, on the platform they are placed under the tickers BTCF0 / USDt0 and ETHF0 / USDt0.
Development of perpetual contracts was carried out for 7 months. The company's white paper says that verified Bitfinex account holders will be able to access the new product through a derivative wallet. The novelty uses USDT as collateral, the company offers customers leverage up to 100x, as well as an isolated margin to individualize the level of risk.
Bitfinex BTC / USDT and ETH / USDT derivatives just went live pic.twitter.com/ptP3P74IS6
Degam (@ItsMeDegam) September 2, 2019
Despite the fact that the product offered by Bitfinex resembles what the BitMEX exchange offers, representatives of Bitfinex nevertheless decided to emphasize that their derivatives are intended primarily for hedging risks, and not for gambling. It is worth noting that residents of the USA, Canada, Switzerland, Seychelles did not get access to the new product.
Interestingly, the launch of derivatives coincided with the launch of two versions of Binance futures platforms. You can read more about futures trading platforms here. In addition, Bitfinex announced the launch of a new platform – iFinex Financial Technologies Limited. It is expected that this platform will allow the company to expand the list of offered services and products for trusted users.
