OKCoin, Chinese based bitcoin exchange, has announced it will add a new feature to its platform – futures trading, becoming one of the first main exchanges in the world to offer bitcoin enthusiasts the chance to experience futures trading in bitcoin.
OKCoin’s new feature, which will be available in two weeks, partly solves digital currency’s price volatility problem and also reduces risks. For example, the bitcoin traders can use futures to utilize higher leverage opportunities for price speculation.
OKCoin CEO, Star Xu, ponted out that his company aimed to bring institutional and professional trading tools to bitcoin investors helping them build the bitcoin trading platform:
“Today’s launch of bitcoin futures trading capabilities builds on the algorithmic trading tools we pioneered and launched on our platform last month. We have already seen a favorable response from institutional and individual investors. We are helping to make participation in bitcoin a more safe and stable process. The ability to trade futures will further cement our position as one of the world’s leading bitcoin exchanges.”
Changpeng Zhao, OKCoin’s chief technology officer, said that OKCoin was definitely gathering accurate pricing data from 10 different bitcoin exchanges. Moreover, he added that the main idea of increasing bitcoin adoption was the opportunity of reducing risk in digital currency investment and trading.
OKCoin, one of three major Chinese bitcoin exchanges based in the capital of China, Beijing is looking for new partnerships abroad, in such places as Hong Kong, Singapore, Taiwan and US.
The companies added websites and support in English, also a variety of ‘pro’ features. For example, Huobi has just introduced its margin trading system and interest-bearing bitcoin ‘savings accounts’ to users, and BTC China’s new mobile app provides real-time marketdata.
Other exchanges from Asia, like Hong Kong’s Bitfinex and BTC.sx, which is incorporated both in the UK and Singapore, also provide their own implementations of margin trading and derivatives.
In June, OKCoin has launched an English website, P2P margin trading and a number of trading tools, in order to make it easier for larger- and higher-volume traders.
Furthermore, the largest Chinese exchanges offer extremely low trading fees (even %0), which is an attractive offer for trader.