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What is Bitcoin? Bitcoin is a cryptocurrency and a digital payment system invented by an unknown programmer, or a group of programmers, under the name Satoshi Nakamoto. It was released as open-source software in 2009.
The system is peer-to-peer, and transactions take place between users directly, without an intermediary. These transactions are verified by network nodes and recorded in a public distributed ledger called a blockchain. Since the system works without a central repository or single administrator, bitcoin is called the first decentralized digital currency.
Besides being created as a reward for mining, bitcoin can be exchanged for other currencies, products, and services in legal or black markets.
Bitcoins in its pure essence is money. It is digital currency that serves the same functions and pu…

Japanese Broker Monex Launches Crypto-Based CFDs With 2x Leverage

Japanese Broker Monex Launches Crypto-Based CFDs With 2x Leverage

The Japanese online securities company Monex has revealed the launch of cryptocurrency-based contract-for-difference (CFD) services that went live on Wednesday. The new derivatives products offered by Monex will include bitcoin, XRP, ether, and bitcoin cash pairs with 2x leverage.

Japanese digital currency exchanges are getting into leverage products as the firm Monex has revealed a derivatives product otherwise known as a contract-for-difference (CFD) service. Basically a CFD acts as the net difference depiction of either losses or gains that stem from the trading of specific assets.

CFDs are popular investment vehicles in the world of derivatives and they are also well known in crypto markets.

Monex now offers 2x leverage for ETH, BTC, BCH, and XRP against the yen as markets opened on July 8, 2020. Monex Group is also well known for acquiring the exchange Coincheck which still sees consistent volume to this day.

Because Monex Group is offering crypto-based derivatives, Monex had to register with Japanese regulators as a Financial Instrument Business.

“Crypto-asset-related OTC derivatives transactions were included under the Act to protect customers and create risk management regulations for financial instruments business operators,” Monex revealed in an issued statement. The company added:

Since the birth of the Bitcoin, the crypto-asset market has grown steadily, and the number of cryptocurrencies and crypto-asset derivative transactions are increasing. With the expansion of transaction categories under the amendments to the above-mentioned Act, Monex has decided to begin offering crypto-asset CFD services.

The Monex crypto-based CFDs are available all day long for trading and every day of the year. Traders, however, need to register for a Monex general brokerage account which can be done using the Monex Trader Crypto app.

The Monex issued CFDs can be traded via the app but the user also needs to register for a CFD account. Last summer, the exchange Liquid launched contract-for-difference (CFD) services using cryptocurrencies with 100x leverage.

When the product first launched, Liquid’s Chief Product Officer of Liquid, Mario Gomez Lozada, explained the exchange launched the CFDs due to “rising demand.” Of course, the new offering by Monex is much less leverage with only 2x as opposed to 100x.

The CFD services provided by Monex will stem from Monex Inc, Kabucom Securities, Rakuten Securities, Matsui Securities, and SBI Securities.

What do you think about Monex offering crypto-based derivatives for 2x leverage? Let us know what you think about this subject in the comments section below.

The post Japanese Broker Monex Launches Crypto-Based CFDs With 2x Leverage appeared first on Bitcoin News.

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