It is kind of leverage buying service from the Dutch-based Bitcoin exchange CleverCoin as it has recently introduced a new feature to its platform. Now, it is allowing users make a 10% down payment when buying Bitcoin and over the next 48 hours, either complete the order or cancel it. This according to the Bitcoin exchange could reduce buyer’s remorse in chaotic markets.
Nonetheless, the feature is also available for the customers when they are selling Bitcoin. Thus, now, they effectively have an easier time profiting from changes in the Bitcoin price. Talking about the offer Karsten Nilsen, CEO of CleverCoin, said it is a flexible option that gives people to speculate with some leverage or buy and sell without paying the full amount at once.
Unfortunately, CleverCoin is currently not licensed for the US and other countries. Therefore, the Boost feature will really only be useful to those with European bank accounts for the near-term. However, Nilsen lamented that the exchange is working on getting licensure in other jurisdictions.
He says, “We currently only have the proper licenses to support European countries, but we are working on making it available to more countries.” Formed not long ago in 2013, the company focuses on European customers trading in BTC and Euros. The latest move to make profiting from price fluctuations easier than traditional margin trading marks it as an innovator.
Observers believe that the latest offer will also induce competitors to come up with similar features for other markets. Nonetheless, the company is backed by the Boost venture capitalist group which counts preeminent Bitcoiner Tim Draper as its founder. Therefore, there won’t be any issue about funding.
However, one of the big drawbacks to those looking to dive into Bitcoin, after all, is the possibility that the price will have dived within days of their purchase. This, according to some traders makes their investment already worth less than it cost. Nonetheless, by giving users a chance to re-consider, the exchange is offering a new level of user-friendliness.
The company says that the new move may attract more customers to its platforms. A user-friendly Bitcoin exchange, CleverCoin allows customers deposit funds through SEPA, credit cards and iDEAL. It is a legal entity operating fully under Dutch law. The entire system is equipped with multiple security layers and is constantly being monitored.
To contact the reporter of this story: Deepak Tiwari at firstname.lastname@example.org
Nonetheless, the feature is also available for the customers when they are […]