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Bitwell Platform Open for Beta Testing

#OhNoCrypto

Apr 11, 2020 at 09:36 //

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Bitwell believes that the future of crypto assets belongs to derivative

Bitwell platform was launched on April 6, 2020. It now offers trading of BTC option contracts and spot of seven major coins.

Bitwell’s BTC option contract product is the first one to meet the needs of customers from different countries by providing both bilateral opening and one-way opening, which can be switched flexibly. Meanwhile, it also supports covered open and opening with cross margin, isolated margin, and mixed margin. It is the world's first derivative platform that supports mixed-margin option contracts. At present, other crypto asset exchanges, such as Deribit and OKEX, only support single margin. Compared with other exchanges, Bitwell’s new feature is more friendly and convenient for retail investors. Bitwell is also the first platform to have both options and spot trading when it went online. Against the background of worldwide sinking of asset prices, this derivative instrument will give institutions more choices as asset hedges. Through the product strategy, Bitwell hopes to attract more institutional and retail users.

Bitwell believes that the future of crypto assets belongs to derivatives. In traditional finance, derivatives are 20-40 times the spot market, while in current crypto market, derivatives account for only 20% of the spot, so there is big room for growth. In addition, although there are many exchanges in the market, few of them have the ability to design and launch derivatives. And Bitwell is one of them.

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Bitwell is founded by senior practitioners from leading Internet companies such as Tencent, Baidu, and Sina, as well as world-renowned financial institutions such as Morgan Stanley and Paypal. It not only has excellent technical strength, but also is equipped with years of practical financial experience. It is an elite entrepreneurial team rarely seen in the industry

In terms of technology, the founding team independently developed a multi-layer cold wallet system to store most of the platform’s fund offline in distributed system around the world. The platform incorporates the team's ten-year experience in developing market products, which experienced tests of concurrency of tens of millions of users, while only suffered delay of less than 1 millisecond. 

From the aspect of financial Management, user’s funds are underwritten by insurance companies. The team also draws lessons from traditional financial industry’s experience in establishing a business firewall system to prevent events such as insider trading and rat trading. It extracts platform operating profits and sets a trader protection fund to make up for users’ loss caused by market turmoil.

Based on the above measures, Bitwell will create a fair and transparent global digital asset trading platform to provide users with secure, convenient and intelligent blockchain derivatives trading services; Bitwell will balance the risk and return preferences of different types of customers, and develop more featured trading tools, so that both institutional and retail users can find suitable products on Bitwell and trade as they like.

At present, Bitwell’s beta version is only open to small-scale users with invitation code. After the beta testing is over and the system functions are optimized, it will be officially opened to all users.

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OhNoCryptocurrency via https://www.ohnocrypto.com/ @coinidol.com By Guest Author, @Khareem Sudlow