{"id":9335,"date":"2019-04-16T10:37:27","date_gmt":"2019-04-16T10:37:27","guid":{"rendered":"https:\/\/www.legitgambling.com\/news\/?p=9335"},"modified":"2019-04-16T10:37:27","modified_gmt":"2019-04-16T10:37:27","slug":"bitmex-to-launch-crypto-options-platform-within-12-months","status":"publish","type":"post","link":"https:\/\/www.legitgambling.com\/news\/bitmex-to-launch-crypto-options-platform-within-12-months\/","title":{"rendered":"BitMEX To Launch Crypto Options Platform Within 12 Months"},"content":{"rendered":"

\"\"BitMEX<\/a> is planning on rolling out something special for its customers in the near future. The company which is one of the leading peer to peer crypto trading platforms is expected to launch a new platform for cryptocurrency trading options which is expected to be a market changer.<\/p>\n

Currently, Deribit is dominating the crypto futures and options market<\/a> but with a potential BitMEX\u2019s entry, there will be a lot more competition for market share and more options for traders.<\/p>\n

Arthur Hayes<\/strong>, who is the CEO of BitMEX recently announced these plans. Hayes is really optimistic about the potential launch and hopes to change the market by introducing options trading. <\/p>\n

Plus, he is also optimistic about being able to offer short terms bonds on BitMEX which are backed by bitcoin. This could potentially allow traders to start buying on popular indices like the S&P 500.<\/p>\n

In a statement, Hayes said <\/p>\n

I want to create a future where the highest quality exchanges and miners\u2026 issue short-term Bitcoin bonds to the ecosystem. Hopefully, by summer of this year, you\u2019ll be able to use Bitcoin and purchase the S&P 500 and Nasdaq QQQ indices and essentially, you won\u2019t have Bitcoin-USD risk. You\u2019ll send bitcoin. They\u2019ll FX it into dollars, and allow you to buy a swap. And when you want to leave, you\u2019ll sell the swap, get back dollars, and then you can get back your bitcoin<\/p><\/blockquote>\n

The time table for this new platform to launch is between the next 12 to 18 months. Hayes has hinted that the company is working with several experts on how to properly develop the system.<\/p>\n

Cryptocurrency options are similar to futures contracts. They allow traders to hedge on the future value of an asset. The only difference is that traders are not nailed to the deal. If they find it unprofitable, they can choose to pay a small fee and back out. With the opportunity to buy options using cryptocurrencies, investors can now turn their crypto into more solid assets.<\/p>\n

Bullish on Bitcoin<\/h2>\n

Hayes is also very optimistic about the bitcoin market. The world\u2019s most popular cryptocurrency has experiencing a turnaround during the last couple of weeks and Hayes is confident that bitcoin\u2019s value will continue to increase. He believes that the value of Bitcoin might reach $50,000 within the next five years<\/strong>. The fact that Hayes is pinning his hopes on bitcoin comes as no surprise since it is the backbone of his platform.<\/p>\n

BitMEX is currently recovering from the backlash it has experienced early in the year. The company was reportedly forced to close it US-based and Quebec-based accounts<\/a> because of regulatory crackdowns but the exchange has denied the reports. Opening a new cryptocurrency trading options platform in the near future will be a good boost to the company. <\/p>\n","protected":false},"excerpt":{"rendered":"

BitMEX is planning on rolling out something special for its customers in the near future. The company which is one of the leading peer to peer crypto trading platforms is expected to launch a new platform for cryptocurrency trading options which is expected to be a market changer. Currently, Deribit is dominating the crypto futures […]<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[68],"tags":[],"class_list":["post-9335","post","type-post","status-publish","format-standard","hentry","category-cryptocurrency"],"yoast_head":"\nBitMEX To Launch Crypto Options Platform Within 12 Months<\/title>\n<meta name=\"description\" content=\"BitMEX is planning on rolling out something special for its customers in the near future.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.legitgambling.com\/news\/bitmex-to-launch-crypto-options-platform-within-12-months\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"BitMEX To 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