Ether Options Could be Coming to the LedgerX Platform
LedgerX, the Bitcoin derivatives platform for institutions, has announced through The Block that they may soon be launching an Ether option. This will allow traders to bet on the price without any obligation to buy Ether.
The platform currently offers Bitcoin swaps and options under regulation from the Commodities Futures and Trading Commission (CFTC). Their new product tied to Ethereum is all ready to go live awaiting approval from the regulator. Once approved this new product will help further endorse Ethereum and products around cryptocurrencies helping them reach mass adoption and hopefully induce more to buy crypto.
Like equity markets, an option for a cryptocurrency allows the investor to set a price in the future to purchase the asset. The investor is then able to hedge their bet in an underlying market. The investor can pay the set price to buy Ethereum at any point during the contract until expiration. If the contract is still open as it comes towards the end, the investor can decide whether they want to buy Ethereum for the agreed price.
The price of the underlying asset is subject to change during this period, but the investor has no obligation to complete the purchase. The asset is not owned by the investor till the contract is complete unlike when you buy Ether through our site BC Bitcoin, you are buying the asset itself.
More and more products around cryptocurrencies are entering the market and hopefully with regulatory approval, they will further endorse crypto.
Ensure you’re kept up to date with the latest informative crypto news by heading over to BC Bitcoin. Don’t forget you can use our platform to buy crypto.
Dear valued BC Bitcoin UK Clients,
I hope this email finds you well. We are reaching out to inform you of some significant changes to our services that directly impact our operations within the United Kingdom. Regrettably, due to the recent regulatory developments introduced by the Financial Conduct Authority (FCA) and the implementation of the new Financial Promotions Regime, BC Bitcoin is no longer able to offer our services to clients based in the UK. This very difficult decision is in compliance with the regulatory framework and ensures that we uphold the highest standards of transparency and legality. You can view the FCA publication here: https://www.fca.org.uk/publication/finalised-guidance/fg23-3.pdf As a result, we would like to inform you of the following changes and provide guidance on how to manage your assets with BC Bitcoin:
1. **Service Termination for UK Clients:**
BC Bitcoin will no longer be able to accept new purchase orders from clients residing in the United Kingdom.2. **Continued Operation Outside the UK:**
Despite the changes within the UK, BC Bitcoin will continue to operate outside of the UK as normal. Our services will remain unaffected for clients in other regions.3. **Withdrawal of Assets:**
For our UK clients holding assets with BC Bitcoin, we want to assure you that your assets are secure. You have the option to safely withdraw your assets or exchange them to GBP or EUR and subsequently withdraw. We have streamlined the withdrawal process to ensure convenience for our clients.4. **Conversion of Assets:**
To convert your Holdings to fiat please log in to your BC Bitcoin account and submit a sell order for the amount of coin you hold with us. During the process you will shown how much you will receive and asked the bank details you wish to receive payment to. In addition, you can request the conversion by emailing info@bcbitcoin.com from your registered email address. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process.5. **Withdrawal Procedure:**
To initiate a withdrawal, please email your request to info@bcbitcoin.com from your registered email address. You may be asked some security questions to verify your identity. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process. These changes are effective immediately, and we appreciate your understanding and cooperation during this transitional period. We understand that this may be an inconvenience for our UK clients, and we sincerely apologise for any disruption this may cause. Thank you for being a valued part of the BC Bitcoin community. We are committed to providing you with a seamless experience as we navigate through these regulatory changes. If you have any questions or concerns, please do not hesitate to reach out to our customer support team at info@bcbitcoin.com Kind Regards