The operator of the cryptocurrency exchange LedgerX has launched a simplified interface that allows cryptocurrency investors to earn interest on their savings. The new service will work by analogy with options on bitcoin, but with an optimized user interface for investors.
«We are seeing growing demand of people who want to earn their bitcoins. In this case, lending is not really suitable, especially lending, where the percentage is returned in the cryptocurrency. Therefore, we see that participants return to trade», – said the President of LedgerX and risk analyst company Utica Zhou.
According to her, the participants are betting on what the price of bitcoin at some point in the future: if it will grow to this level, participants can recoup their investment if not they can sell your coins and get Fiat as profit from this sale.
Zhou said that more than half of the volume of trade LedgerX connected transactions «of this type of trade» – call options (a contract giving the right to buy an asset at a certain date at a fixed price).
«I think that volatility has a great impact on us. The greater the bitcoin exchange rate moves, the more Fiat money to the investors,» she said.
However, under us law, trade call options can only participate have been granted approval by investors.
«Users need to go through the same application process and procedures «Know Your Customer» (KYC) as standard members LedgerX,» – said Zhou.