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BitHouse is at The Right Time of Indonesian Crypto Era

Place/Date: - August 23rd, 2021 at 6:26 pm UTC · 4 min read
Source: BitHouse

BitHouse is at The Right Time of Indonesian Crypto Era

The number of crypto players in Indonesia recorded an increase of 62.5% to at least 6.5 million people by June 2021. In fact, at the end of 2020 the number of players was only 4 million people. In the first half-year of 2021, Indonesian crypto players increased 50% than 2020.

The trend of investing in cryptocurrencies or digital assets is still rife today, including in Indonesia. Although the overall trend of price movements is still sluggish, this investment instrument is estimated to be able to dominate the global financial market.

Some people may have heard of crypto assets such as Bitcoin, Dogecoin, Ethereum, to Ripple. Most of the top and most popular crypto assets are from overseas. However, it turns out that several cryptocurrencies come from the country and have interesting performances to look at.

Previously, the Minister of Trade (Mendag) Muhammad Lutfi said, the value of crypto investment transactions in Indonesia until early of year 2021 reached at least Rp 370 trillion. The number increased more than five times compared to the end of last year which amounted to Rp 65 trillion.

The sluggish price of crypto assets is an opportunity for investors to enter Wakanium Token (WKI) which is a decentralized exchange platform built on BSC (bsc) that focuses on gamification of yield farming, DEFI, NFT and gaming.

WKI is a crypto coin getting allied with one of the Indonesian leading crypto trading companies – BitHouse. First introduced in July 2021, WKI utilizes the Binance Launchpad feature and is built on top of the Binance Smart Chain (BSC).

As mentioned above, BitHouse is a centralized exchange focus on contracting trading with leverage freely chosen by global users. The updated version of the new BitHouse application for IOS and Android has been available since August 2021 at the website.

What is the advantage of BitHouse perpetual contracting trading? The perpetual contract is an innovative financial derivative. The contract is similar to traditional futures contracts. The biggest difference is that: Perpetual contract has no expiration date or settlement date, and users can hold positions indefinitely.

In addition, the perpetual contract introduces the concept of spot price index, and through the corresponding mechanism, the price of the perpetual contract returns to the spot index price. Therefore, unlike traditional futures, the price of the perpetual contract will not deviate from the spot price most of the time.

Furthermore, BitHouse Exchange perpetual contracts have the following five characteristics:

  • Multiple Opening Positions

Multiple opening positions make BitHouse users and investors, at the same time, going long or short to the same target coin/token in one account.

  • No delivery Date

Perpetual contracts are not limited by time, and no trader can gain trading income on the long-term delivery day.

  • Price always anchors the market

Another feature of perpetual contracts is that the transaction price is always fixed at the market price. This contract introduces the concept of price index and uses a corresponding mechanism to make the price index of the perpetual contract. An important means of a goal.

Therefore, unlike traditional futures, the price of contract renewal will never change the price over time.

  • Up to 125 times flexible skills

Perpetual contracts provide up to 100 times the time. Traders can adjust after opening a position according to their trading needs. While the platform provides flexible risk guarantees, it ensures the best trading experience for traders.

  • Automatic lightening mechanism to ensure the interests of traders

Use a complete warehouse mechanism instead of a risk-sharing mechanism to ensure the interests of traders. The mechanism determines who bears the forced liquidation to effectively ensure the interests of traders and the huge losses caused by high-risk speculators.

  • Double price mechanism

The price mechanism is adopted, and the marked price is used as the trigger price, and the marked price is set to the price of the real-time global news trading platform.

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