How Wisebitcoin’s Insurance Feature Makes it a Trading Platform for Professionals
By now, major financial institutions agree that cryptocurrencies are here to stay. A report titled ‘Imagine 2030’ by Deutsche Bank concluded that cryptocurrencies would no longer be seen as outcasts but alternatives to existing monetary systems. Their merits, including speed, security, minimal transaction fees, ease of storage, and relevance in the digital era, will be recognized. It is expected that there will be more than 200 million cryptocurrency wallet users by 2030 and almost 350 million by the year 2035.
With this coming influx of new users, cryptocurrencies’ main advantages will be offering them improved trust, fraud detection, and claims processing thanks to smart contracts. Wisebitcoin leverages these distinctive features to help professional traders with the inherent volatility of crypto markets.
The way the Insurance Fund can do this is by storing funds from previous successful liquidations. If a liquidation was executed at a price better than the liquidation price of a particular position, these earnings would go to the Insurance Fund.
Cryptocurrency trading requires the use of new tools, technologies and even adopting some new concepts. Considering their unstable nature, this type of smart contract insurance becomes crucial since traders need some leeway to maneuver swift changes in market prices. The Insurance Fund buys them time to react to these changes while reducing the amount of auto-deleverage transactions on the platform.
The implementation of such solutions is what makes Wisebitcoin a leader in cryptocurrency trading for professionals. The exchange has developed similar vital systems after its cloud connection upgrades. These include perpetual trading for USDT swaps and coin swaps in the futures exchange and up to 100X leverage on contract trading. Along with the Insurance Fund, these innovative features distinguish Wisebitcoin from other cryptocurrency exchanges on the market.
To learn more, visit https://www.wisebitcoin.com/.
Originally published at https://www.wisebitcoin.com on March 31, 2021.
