Bitcoin has been in the market for a long period of time and it has shown how it is able to revolutionize different sectors. However, there are some critics that say that the virtual currency still lacks real-world utility. There is a company called WCX that people can use to access global financial markets using Bitcoin.
Bitcoin Can Be Used for Trading Stocks
The ex-Apple software manager and quantitative financier, Amatsu Soyonobu decided to start this platform. He worked side by side with Tagawa Hayashida and founded WCX. In this trading platform, users can trade stocks and all the profits and stocks are paid in Bitcoin.
The markets that are offered include markets such as Euro/USD, stocks such as Tesla or other precious metals such as gold. At the same time, the platform includes some crypto markets such as BTC/USD or ETH/USD using BTC as collateral.
Bitcoin can be transacted in a much easier way than the USD and users prefer this rather than fiat currencies. At the same time, it can be used to reduce costs for many different companies as well. The company is currently offering 0% fees on deposits, withdrawals, and trades since they use Bitcoin as their competitive advantage.
With Bitcoin, deposits and withdrawals are very fast compared to using USD. Additionally, people from many other countries can participate in the market and invest in stocks. The company focuses on security and usability as well.
About it, they mentioned:
“Security is our top priority. We use the most tested and secure wallet architecture, which includes cold/hot wallet segregation. We keep 98% of customer funds in cold offline wallets, out of reach from attackers. Hot wallets are used to process withdrawals quickly. They’re protected with state of the art security and insured against theft.”
Furthermore, as the company is located in Switzerland, it complies with all the Know-Your-Customer (KYC) laws available in the country. That means that users will have to provide their information before they can deposit funds and start trading.
WCX informs that the feedback that they are receiving from users is very positive. One of the most positive things that they mention is how easy is to start trading activities and how fast the entire experience is.
This shows that Bitcoin can have multiple use-cases rather than just a few. It can be used in the financial industry or also to store funds or make international transfers in a fast and cheap way.