Regulatory Drama Aside, Crypto Derivatives Rise from the Ashes
For years, the cryptocurrency industry has had a complicated relationship with regulators. An example of regulatory pushback within the crypto space was when Facebook-backed Diem tried to launch its stablecoin. Regulatory limitations have undoubtedly had an impact on derivative brokers and exchanges. Just recently, Binance, one of the biggest exchanges, was forced to shut down crypto derivatives in several countries, including Germany, Italy, and Hong Kong. Since this announcement, derivatives traders have been on edge about what this means for the derivatives market and, most importantly, their funds held at exchanges that are rapidly shutting down operations in various regions.
Despite the crypto derivatives industry chaos, Eightcap, an award-winning CFD broker, is going against the grain by announcing an impressive 250+ cryptocurrency derivatives. This positions the broker as the largest crypto derivatives offering in the industry and highlights that the crypto derivatives market is thriving.
Eightcap Launches the Largest Crypto Derivative Offering
Eightcap announced on August 6, 2021, the launch of over 250 crypto derivatives which allows its clients to diversify their crypto derivative portfolio via the MT4 and MT5 platforms.
In the announcement, the company addressed some of the common issues and concerns crypto derivative traders currently face. The most worrying aspect with Binance shutting down is that derivative traders struggle to get their funds back. Withdrawals are proving to be difficult, and ultimately, the trust a derivative trader has in the derivative sector is evaporating quickly. Eightcap aims to form a trusting relationship between crypto derivative traders and itself by creating a new home for them through its unmatched offering and, most importantly, its seamless and swift withdrawal process. Furthermore, with Eightcap, crypto derivative traders don’t need to open a wallet to speculate on rising and falling crypto prices.
Eightcap will allow funding via debit and credit cards, Skrill, PayPal, and other payment methods. All these features are deliberate to make Eightcap the centre of derivatives trading in the market and give customers the best experience possible.
“Our vision at Eightcap is to provide a new home for Crypto derivative traders by providing an unparalleled offering that includes the largest crypto derivative library paired with ultra-low spreads and fast withdrawal options,” said Joel Murphy, CEO, Eightcap. “The regulatory issues crypto exchanges such as Binance are facing means traders are left with unnecessary worries about their funds and if they can withdraw them. With us, Crypto derivative traders can have a seamless experience from the moment they open an account to when they want to withdraw their funds.”
Eightcap is not limited only to crypto derivatives as the broker also offers Forex, Indices, Commodities, and Shares markets to their customers. On the regulatory side, Eightcap is currently regulated by the Australian Securities and Investments Commission (ASIC), the Financial Conduct Authority (FCA), the Cyprus Securities and Exchange Commission (CYSEC) and the Securities Commission of The Bahamas (SCB). Eightcap’s goal of being at the top of the crypto derivatives market seems well within view.
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