Bitcoin-Only Margin Trading Platform
When someone who works in the financial management industry quits a highly secure job to create a startup, it usually signals that they are either crazy or on to something good. In Joseph Lee’s case, it’s more likely the latter, with the soon-to-be ex-banker using his experience to bet on the future of Bitcoin.
Lee is no stranger to Bitcoin. An early adopter of the crypto-currency, he expanded his portfolio to include Bitcoin as a small experiment, but it wasn’t long before it paid off and represented almost 90 percent of his investments.
And now he thinks that anyone else should be able to speculate on the value of the Bitcoin themselves, but without the risks that he and others have faced during their experimental days. Currently, if an investor wishes to trade on a Bitcoin exchange like Mt Gox, they need to manage one or more traditional currencies along with their Bitcoin currency, increasing the complexity and potential risk to them.
To overcome this, Lee has developed a margin trading platform, Btc.sx, that is completely void of all currencies other than Bitcoin. Trades are placed in Bitcoin, payouts are in Bitcoin, and the deposit required to open a position on the platform is in Bitcoin.
The second core feature of Lee’s platform is that it is focused on margin trading, allowing investors to use additional investment to leverage their existing Bitcoin and increase their payouts. As with all margin trading platforms, this multiplies the reward for investment decisions that pay off, and also multiplies the risk involved if the market turns sour.