The cryptocurrency exchange platform BTSE announced a few days ago the official launch of Monero (XMR) futures contracts.
According to the recent announcement, this would make the BTSE one of the first exchanges in the world to offer Monero futures.
Dubai’s BTSE Exchange Launches XMR Futures Contracts
After listing Monero on their cryptocurrency exchange, they will now be offering Monero futures trading solutions.
At the moment, the popular privacy coin is available for trading with 6 other cryptocurrencies and 8 fiat currencies.
Through futures trading, it is possible for XMR to have increased liquidity in the market. At the same time, traders can apply various approaches to include the futures product in their overall trading strategy.
As per the official announcement, BTSE is offering Monero Futures 2.0, making of it one of the most advanced futures on the market considering they are flexible, customizable and personalized as well.
The exchange informs users can post any of the currencies they support as collateral for trades and also choose which asset the user wants to receive the payout in.
It is worth mentioning that the exchange is also offering up to 100x leverage on Monero futures through their platform. This is going to help individuals and traders that want to have large trades improve their trading strategies.
About the new addition, the BTSE commented:
“We believe that Monero (XMR) brings a lot of value to BTSE and are excited to offer an additional option for traders – and with that, a new gateway for added liquidity within the Monero network.”
Monero is one of the most recognized privacy cryptocurrencies in the market. It allows users to process transactions without revealing their private data or information.
In order for that to happen Monero uses ring signatures creating plausible deniability terms of linking transactions to senders.
In several countries with oppressive regimes, XMR becomes very important for individuals. Governments cannot control how funds are moving or who are receiving them.
In general, privacy coins such as Monero or Zcash tend to be criticized for their privacy features and solutions offered to users. Indeed, many crypto exchanges in different jurisdictions took the decision to delist these privacy coins from their platforms.
A few weeks ago, UseTheBitcoin reported that Ether (ETH) futures could eventually be released as soon as in 2020. This is according to the Chairman of the Commodity Futures Trading Commission (CFTC) Heath Tabert.