Bakkt Warehouse, which opens the door to bitcoin (BTC) deposits. For customers who are at the beginning of the future with a platform at the front want to be able to enjoy their funds by Bakkt at this stage.
On the 23rd of september, the customers of the Bakkt to get started with futures and forward contracts for bitcoin. The most striking difference in comparison to the competition: the contract will be paid out in BTC. For this reason, the company, in connection with a settlement of $1 billion worth of bitcoin.
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Bakkt in accordance with the plan
After several times of postponement, it seems that everything is ready for the big launch on the 23rd of september. If the launch is successful, then it is Bakkt is the first platform of that ‘physical’ bitcoin to pay for the contracts.
Today, our Warehouse is open for customer bitcoin deposits and withdrawals as we prepare for the Bakkt Bitcoin Daily Value of Futures contracts, launching on September 23rd
The availability, or the physical delivery and brings more flexibility in managing bitcoin exposure
— Bakkt (@Bakkt September 6, 2019
How does that work?
Unlike many of its competitors, as BitMEX, and the Chicago Mercantile Exchange (CME) contracts to Bakkt, therefore, settled with the BTC. Of the other derivative exchanges established to do that, just good old-fashioned American dollar.
Users from more than 30 countries and must be properly identified with your registration, you will not be participating on the platform. The aim is to be the prestigious ‘investors’ get on board.
The venue itself is controlled by the parent company of the Bakkt: the Intercontinental Exchange (ICE). ICE offers scholarships to the financial and raw material markets, with the Bakkt there is a the age of thirteen, officially a regulated exchange in the us.
Bakkt Warehouse to arrange to enter the transactions when the contracts come to an end. It is, therefore, responsible to anyone for the right amount of BTC to send.
So what does this mean for bitcoin?
Bitcoin is a scarce commodity. Quite a lot of people struggle each and every day in order to have the cheapest and largest pile of bitcoin. Think about the stock markets, you don’t need BTC, selling, or organizations, who want to invest in.
With Bakkt as a new player, there will be a big one at that. If the platform is successful, it will be more bitcoin in order to need it.
Partly, they may be able to get out of the revenue of the trading platform, but the rest will have to be withdrawn from the market. The question is, with Bakkt so, from a new angle.
Source: Cointelegraph
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