FOR IMMEDIATE RELEASE
HONG KONG, 14th November 2019 – BBOD, first zero-fee, non-custodial cryptocurrency trading platform has launched the first DigiByte-TUSD perpetual futures. The new derivative contract is now trading at BBOD with 25x leverage.
BBOD’s DigiByte-TUSD perpetual futures contract will allow market participants to go long or short on cryptocurrency with leverage, empowering them to express sentiment and manage risk more effectively. The instrument has no expiration dates, unlike fixed maturity futures.
The contract is designed as a perfect tool for the DigiByte miners, who may now use futures to hedge their mining profits amidst the rising cost of mining DigiByte.
Rudy Bouwman, CMO & Co-Founder DigiByte Awareness Team, said: “It’s nice to see BBOD adding new derivatives for DGB. The perpetual futures contract cannot only be used as a leveraged trading product but also be used as hedge to secure profits without selling their DGB.”
Jacob Ruczynski, CEO at BBOD, said: “We are extremely happy to launch the first perpetual futures contract on DigiByte. There has been a strong client demand for this product and we believe our DigiByte-TUSD perpetual futures will increase price efficiency, transparency and liquidity in the cryptocurrency altcoins markets. Finally the DigiByte miners may effectively hedge their mining profits. They do not need to sell the cryptocurrency but instead they can go short if they want to hedge the mining profits or if they think that the price will temporarily go down.”
This new contract expands BBOD’s derivatives offering which currently includes Bitcoin, Ethereum, Ripple, Litecoin, EOS, Stellar, Cardano, Monero, IOTA, NEO, Binance and Digibyte perpetual futures.
BBOD is to become a leader in offering altcoins perpetual futures contracts and this launch is just the beginning as we will introduce new additions to the product offering in the future. BBOD is going to offer +100 Bitcoin and Altcoins perpetual contracts by the end of 2020, to become the most liquid and secure crypto derivatives marketplace to trade altcoins with high leverage.
BBOD is fully transparent, non-custodial cryptocurrency derivatives trading platform for retail and institutional clients, offering a secure and transparent marketplace to trade Bitcoin and multiple Altcoins futures contracts with a stablecoin collateral. The non-custodial nature of the platform means that BBOD does not hold either the clients’ digital assets or their private keys. Instead, a client has their own contract account on the Ethereum blockchain. For more information, please visit https://bbod.io/
DigiByte (DGB) is a decentralized global UTXO PoW based blockchain with a focus on Cyber Security, DigiAssets, Payments & Secure Communications Technologies. The DigiByte blockchain was developed in 2013 and released in January 2014 by Jared Tate (Creator & Founder of DigiByte) with an open-source protocol. The DigiByte blockchain has had over 280,000+ full nodes downloaded since April 2017 and uses five secure and advanced cryptographic mining algorithms to prevent mining centralization. For more information, please visit https://www.digibyte.co
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