Is Bitcoin Cash Vying for a Position Among the Top 3 Cryptos? BCH Derivative in the Pipeline

Bitcoin Cash

Is Bitcoin Cash Vying for a Position Among the Top 3 Cryptos? BCH Derivative in the Pipeline

Bitcoin.com, the firm launched by Roger Ver seeks to launch a derivative for Bitcoin Cash. 

Bitcoin.Com To Launch BCH Derivative to Rope in US-based Institutional Traders

The firm has of late grabbed headlines for launching its crypto exchange amidst community backlash. David Shin, the head of the exchange explained the goal is to make Bitcoin Cash one of the largest cryptos in the world. He said, 

“Within a year I want to make that the second or third-largest market cap,” Shin said. “To get from No 4 to No 3 or No 2, we have to see more volume.”

In order to achieve this, the firm has begun discussions to list a Bitcoin Cash futures product on a Commodity Futures Trading Commission-regulated exchange, Further, the firm seeks to have a discussion with CME on listing a Bitcoin Cash Future.

Also, the firm’s future prospects include working with a retail broker so that US investors can thus trade the regulated product. 

“We’ll try to list a BCH future on one of these exchanges that’s CFTC regulated to, therefore, have a product that can be traded into the US with institutional traders,” he said. In theory, we should see more penetration, more users, more trading and more volume.”

With mainstream investors still skeptical for Bitcoin, it is a herculean task to engage and further keep up the interest in altcoins. 

“I don’t think the institutions really know what BCH is, so I want to be out there to change that rhetoric. There’s a real opportunity if we believe two contracts are not enough, and maybe three to five is the right number, that the third one should be Bitcoin Cash” Shin said

The firm’s retail drive is to also develop a Sports-like trading tournament whose ultimate goal will be to create crypto influencers. 

Crypto Community Wary of Ver’s Exchange

Shin became a part of  Bitcoin.com at the end of August to head its exchange business, which debuted Sept 2.

Just a day after announcing the launch of the new exchange, Roger Ver stepped down from the CEO position of Bitcoin.com.

He then revealed Stefan Rust will be the new Chief Executive Officer. This led to further skepticism about Ver’s exchange.

Source-Bitcoin.com Exchange

The exchange is reportedly offering “negative 0.3 percent trading fees,” a feature with which feature traders can earn money back on all their transactions.

It is interesting to note how Bitcoin.com is gradually spreading expanding its services beyond being a news and information site. In August 2017, Bitcoin.com launched a mobile wallet for Bitcoin(BTC) and Bitcoin Cash(BCH). 

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Is Bitcoin Cash Vying for a Position Among the Top 3 Cryptos? BCH Derivative in the Pipeline
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Is Bitcoin Cash Vying for a Position Among the Top 3 Cryptos? BCH Derivative in the Pipeline
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Bitcoin.com, the firm launched by Roger Ver seeks to launch a derivative for Bitcoin Cash. 
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Author: Supriya Saxena

Coming from a physics background the unpredictability and intrigue of the cryptoverse attracted me to take a dive in this field. I am all eyes and ears for the latest trends in blockchain and crypto sphere. Whenever I am not writing or researching, I love to read sci-fi novels, play basketball and watch action movies. I strongly believe that blockchain and cryptocurrency will bring lasting transformations in people’s lives in the years to come. You can reach out to me at supriya [at] coingape.com.

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Supriya Saxena 70 Articles

Coming from a physics background the unpredictability and intrigue of the cryptoverse attracted me to take a dive in this field. I am all eyes and ears for the latest trends in blockchain and crypto sphere. Whenever I am not writing or researching, I love to read sci-fi novels, play basketball and watch action movies. I strongly believe that blockchain and cryptocurrency will bring lasting transformations in people’s lives in the years to come. You can reach out to me at supriya [at] coingape.com.

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