Since 2017, Bitcoin has gained massive popularity all around the world. It has become a means of fast transactions and as the time goes by even more investor and companies are attracted towards Bitcoin and Bitcoin futures contracts. If you’re also one of them who just stepped into the crypto world and are here to gather even more information about Cryptocurrencies then make sure you go through this article. But before we get into this latest and very heated discussion about Bitcoin contracts, let’s get an understanding about what actually is a Bitcoin?
What is a Bitcoin?
A Bitcoin is a cryptocurrency. It is a decentralized digital currency. Decentralized means there’s no central bank or agency involved that could control the transactions.
It is a digital or virtual currency that was created in 2009. This uses peer-to-peer technology to facilitate instant payments. It can be simply described as the digital money that’s instant, private and free from bank fees.
What is a Bitcoin futures contract?
A Bitcoin contract also called “Bitcoin Futures Contract” is an agreement between two parties to buy or sell a financial instrument which in this is Bitcoin. When the contract expires both parties to the contract must buy and sell at the agreed price – even if the price of Bitcoin has fallen or risen over time.
Futures are derivative financial contracts that obligate the parties to transact an asset at a predetermined future date and price. Futures contracts detail the quantity of the underlying asset and are standardized to facilitate trading on a futures exchange.
Generally, futures are used to try to make a profit when people speculate on the price movement of the underlying asset. They are also used to hedge against the risk of price fluctuations, which is especially useful when the underlying asset’s price is very volatile. Futures contracts are negotiated and traded on a futures exchange.
Phemex is a cryptocurrency derivatives exchange offering Bitcoin and USD settled perpetual contracts of BTC, ETH, XRP, LTC, EOS, with up to 100X leverage. It is an innovational, easy to use, professional, trustworthy and one of the safest exchanges in the market. The process to register on Phemex is given below.
Registration on Phemex is very simple. Simply go to Phemex website and from the “Right Top Corner” click register. Then a new webpage will open. First provide your email. After that choose a strong password for your Phemex account.
Secondly, open your email that you provided during registration; a 6-digit verification code will be sent to you. Enter that code on the registration webpage and you’re good to go.
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