Coinfloor has recently made an announcement that their crypto exchanges will now have a new member, Coinfloorex, a bitcoin futures exchange.
Coinfloor introduces Physical Bitcoin Futures
Coinfloor’s aim is to fill the gap between Fiat and Cryptocurrency.The CEO of Coinfloor, Mr Nwosu said that pulling back the stability of Crypto market is the sole aim right now. A large number of people are depending on the exchanges that allows the future contracts to change the cash into physical Bitcoin futures. But this switching between the Currencies won’t be easy since investors have to be willing to take the risks and comprehend their own strategies.
Coinfloor has challenged that Coinfloorex is going to be the first physically available cryptocurrency futures contract. Coinfloorex aims at protecting the consumer rights “against price slippage on positions at time of settlement, as well as concerns of market manipulation”.
Coinfloor is a widely known establishment since 2013, that makes use of P2P model. The physical bitcoin futures’ brokers keep in touch with bitcoin investors and with the help of localized banks, the transactions are made possible. This has also successfully reduced the burden of the tiresome process of conversion between fiat and bitcoin. The company serves to be one of the first to initiate the no-fee system. However, at the end of the same year, it charged an agreeable amount of money as fee.
The company has also enlightened the commoners about crypto and allowed a lot of new investors, the chance to understand the community and invest in it. “Settlement is based on physical delivery rather than an index price from across other exchanges, which provides maximum pricing transparency. Access to Coinfloor’s spot exchange enables investors to easily convert Bitcoin to Fiat currency post-physical delivery, creating opportunities for longer-term currency appreciation or through meeting Bitcoin-denominated obligations “, stated the company.
Hopefully, this endeavor of Coinfloor will turn into a global success.