It has not taken long for cryptocurrency exchange service CoinFlex to make their mark in the digital currency market. Just two months after announcing they would allow investors to trade future contracts for digital assets, the company announced on Wednesday that Polychain Capital and Digital Currency Group (DCG) had invested an unknown amount in the currency futures exchange services provided by CoinFLEX.
On February 21, we reported that the cryptocurrency futures platform for CoinFLEX had officially gone live. The plans to open the platform had been announced in January, and would soon reach a point where they were prepared to allow investors to be able to trade both Fiat and Digital currencies using the platform.
It was expected that the exchange would offer leverage up to 20 times the invested amount and that they would also be the first physically delivered crypto exchange. This meant that there was no risk to investors on cash price settlements, with the company only taking 0.03% of the investment as a fee.
In less than a month’s period of time, CoinFLEX has now added two additional investors. Not only will the company be able to offer physically delivered crypto futures to investors, but there is a project in the works to provide a stable coin-to-coin futures contract, where exchanges will occur in actual digital currencies.
Currently, most exchanges settle their investments by returning cash, but not digital currency. Now an investor could receive actual cryptos as the return on their investment.
One of the things that makes this platform unique to that of other digital currency exchange services is the fact that investors are able to earn a return of the volume of trading they perform on a daily basis. The more liquid a company or investor is willing to be, the greater the return that CoinFLEX will provide.
In fact, according to the company’s plans, a set amount of FLEX Coin will be set aside each day, which will then be distributed to those who have traded on the exchange as a reward for their willingness to do so. The more trades and investment that a trader or company performs, the higher the yield they are to receive from CoinFLEX.
This is a unique experience that should draw a lot of investors. Not only can investor earn assets by making shrewd trades, but now they are able to gain additional cryptocurrency solely by making trades. It’s an ingenious scheme that could turn the two-month-old company into a digital exchange giant in just a matter of a few month’s period of time.
New to blockchain? Check out CoinGeek’s Blockchain for Beginners section, the ultimate resource guide to learn more about blockchain technology.
