Traders on CEX.IO are now able to trade futures contracts on GHS.
(PRWEB) March 14, 2014
London, UK – Traders on CEX.IO are now able to trade futures contracts on GHS. The futures contracts are FHA and FHM. FHA is for contracts that expire in April, while FHM contracts will expire in May. These futures contracts will allow traders to hedge against risk in certain investments, speculate on the future value of hashing power provided by Ghash.IO and purchase GHS on the lowest possible price on the market.
As an introduction to futures contracts for GHS, contracts valued at 2 Ph/s in total will be available. These futures contracts will offer traders the ability to purchase GHS at the lowest price ever, and CEX.IO is expecting many of their traders to hop on this opportunity as soon as it's available. The online commodity trading website already offers futures contracts for BitFury cryptocurrency mining hardware.
With these new futures contracts available from CEX.IO, traders will be able to speculate on the price of hashing power on a certain date in the future. For example, the FHA contracts will basically be bets on the value of certain amount of hashing power from Ghash.io on April 26, 2014 at 0:00 GMT. Trading for FHA contracts will be halted on April 25, 2014 at 23:59 GMT.
These futures contracts are the first of their kind in the cryptocurrency world, but it's important to note that the futures contracts will not provide any profits through block rewards until the contract has expired. FHA contracts will be converted into GHS on April 26, and that is when they will start creating profits for their holders. These contracts are simply bets on the future value of a certain amount of hashing power, and they should not be viewed as ownership of the actual commodity until the contract has expired.
CEX.IO is a Bitcoin Commodity Exchange, which has shared credentials with GHash.IO mining pool. This scheme allows users to trade Bitcoin mining power (GigaHashes per second) and mine Bitcoins simultaneously. Alternative crypto currencies, such as Litecoins and Namecoins are also present on the CEX.IO platform.
FOR IMMEDIATE RELEASE
Contact: Jeffrey Smith