Bitcoin derivative exchange has partnered with bitcoin exchange itBit to track the latter’s BTC/USD pair as a tradable instrument on its platform. Until now, BTC.sx had only tracked prices on Bitstamp, which earlier this year.
BTC.sx offers a CFD-like service whereby traders bet on the direction of bitcoin prices. Leverage is offered, and a daily premium is charged (although relatively high: about 0.6% for a 0.1 BTC position size, vs 0.095% with Plus500). Deposits can be made with bitcoin.
Both companies have their roots in Singapore, with itBit recently . BTC.sx co-founder and CEO Joseph Lee that the two companies have been looking to collaborate since the Asia Bitcoin Singapore 2013 conference.
Though the data is really flowing in one direction- itBit doesn’t have to embrace BTC.sx over and above making its API available- the exchange does have good things to say about BTC.sx. Said Antony Lewis, Director of Business Development at itBit:
“We have a lot of respect for the way BTC.sx understands bitcoin traders and serves their needs. They offer a solid, feature-rich and easy-to-use platform and we are very glad to be working together.”
BTC.sx has been making enhancements to its offering as it reported a growth in customer demand during the past year. Continuing to offer a clean, simple-to-use interface, it has also simplified its margin structure: users now have the choice of 2:1, 5:1 or 10:1, as opposed to the complicated formula and “point” system .
Conversely, BTC.sx felt confident in going with itBit, which states to strive toward instititional grade reliability and compliance with prospective regulation.
Be First to Comment