BTSE Launches Litecoin Futures Trading
After launching Litecoin spot trading on BTSE.com on the 29th of July, we are excited to announce that starting today, you will be able to trade LTC futures as well! There are plenty of reasons to be excited about Litecoin, and they range from the August 5th mining reward halving to the upcoming addition of Confidential Transactions through Mimblewimble and extension blocks.
The difference between spot and futures contracts is very simple: the former is all about opening orders at an arbitrarily set price point, while the latter is about buying or selling at a predetermined price at a specific date in the future.
Trading futures allows you to speculate a little more on price volatility and hedge the price of a cryptocurrency as it appreciates or depreciates.
At BTSE, we've made it our goal to take futures trading to the next level by improving on the flaws of current exchange platforms offering similar services. If you're a trader, you shouldn't have to deal with inefficient interfaces, mandatory crypto trades which complicate the onboarding process, and inconvenient downtimes or overloads.
BTSE’s Futures 2.0 allow traders to post margin and settle transactions in any combination of fiat and cryptocurrencies supported by the platform. This can be used to achieve a better ROI, while it also integrates the liquidity of several assets and markets.
Traders who don’t want to hold cryptocurrencies are welcome to open futures contracts for Bitcoin (BTC), Tether (USDT) and Litecoin (LTC). This approach builds a bridge between cryptocurrencies and the hundred-trillion global futures market. It serves the purpose of growing the cryptocurrency trading market, while also making non-cryptocurrency traders part of the game.
How to start trading futures on BTSE.com:
The process is really simple: you sign up, pick your preferred trading currency, and then make a deposit in either crypto or fiat. At the end of these three steps, you can start trading by using BTSE's simple and intuitive user interface.
As a way of rewarding your support for BTSE.com, we are giving away shirts signed by Litecoin creator Charlie Lee, as well as 21 LTC. Three lucky winners will receive this dual prize, and all you have to do is join our Twitter contest here.
Litecoin is very similar in design to its older and more well-known sibling Bitcoin. It’s meant to be faster and cheaper to transact thanks to quicker block times, instant confirmations, and very low fees. Like Bitcoin, it’s mined, has a fixed supply, has adopted the SegWit and Lightning Network scaling solutions, and is governed by the Nakamoto Consensus.
Unlike BTC, LTC has a known creator who is still active within the community and makes propositions for governance, and at 84 million, its maximum supply is four times bigger than Bitcoin’s.
In terms of upcoming improvements, Litecoin is expected to launch Confidential Transactions in collaboration with Beam’s Mimblewimble protocol. It will make use of extension blocks which enable the confidential amounts to move in and out of the visible main chain, as a way of maintaining the blockchain’s auditability. Ultimately, LTC transactions should become more private than BTC transactions.
BTSE is a multi-currency spot and futures trading platform whose design challenges some of the biggest shortcomings of crypto exchanges today. Through a next-generation matching engine, databases are no longer required and get replaced with memory storage. Correspondingly, transactions are made at faster speeds than the sub-millisecond, drastically reducing the risk of system overloads.
Thanks to horizontal scaling, BTSE is the only exchange capable of simultaneously onboarding any number of users with near-zero downtime. This feature is essential for markets that run 24/7; many exchanges lack this type of robustness.
BTSE is not just scalable, but also very secure: the platform’s servers are self-hosted, which means that BTSE’s reliability and data security does not rely on a third party. If large providers such as Amazon Web Services or Microsoft Azure suffer downtime, BTSE will not be affected.
The team behind BTSE has a solid background in the sectors of finance, technology, and venture building, as well as over a decade of experience in building high volume trading systems. Past companies of the founders include IBM, Cisco, and Goldman Sachs.
BTSE is licensed by the Department of Economic Development, Government of Dubai, and regulated by the Central Bank of the UAE, providing BTSE with strong banking relations.
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