Futures trading has become incredibly popular in the Bitcoin world. Speculators still get exposed to price volatility without buying Bitcoin itself. So far, the number of platforms trading said Bitcoin futures is still relatively small. Argentina will get its own platform to focus on cryptocurrencies moving forward. Mercado de Termino de Rosario sees a lot of merit in BTC trading and speculation right now.
It is remarkable to see how Bitcoin has evolved in Argentina. It is another one of those South American countries struggling financially. Inflation and a decreasing Peso value require some creative solutions. Consumers and entrepreneurs are looking for new ways to make money. It is the perfect place for a Bitcoin boom, although nothing spectacular has happened yet. Mercado de Termino de Rosario aims to change all of that in the very near future.
Bitcoin Futures are Coming to Argentina
More specifically, Argentina’s largest futures operator will introduce cryptocurrency futures contracts. This decision comes at a time during which the Bitcoin price has set several new all-time highs in quick succession. Moreover, major altcoins are starting to recover, which can create a lot of interesting trading opportunities. Most investors don’t want to buy Bitcoin or other currencies directly, though. A futures market is the best solution in this regard.
For the time being, this new feature is still in development. A basic framework has been created for custodial services and using Bitcoin as collateral. An official launch of this new market should occur before the end of this year. At the time of writing, no exact date has been communicated by ROFEX. The company is pretty excited about this development, mainly because their customers requested this new trading option. It doesn’t appear as if any other cryptocurrency besides Bitcoin will be supported at launch.
In the end, these futures will expose more people to Bitcoin and the BTC price. This will also lead to even more speculation. Whether or not that is a good thing, remains to be seen. It is evident there is a lot of positive momentum in the Bitcoin community right now. At the same time, the upcoming SegWit2x fork may still disrupt a few things. More and more companies are focusing on Bitcoin futures as we speak. Slowly but surely, cryptocurrency is gaining mainstream traction.