Best trading platforms for investing in bitcoin (dedicated to release of DEX)

Lebedev

Lebedev

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Having a few days to prepare yourself to brand new experience in crypto trading it would be a good idea to remember all the popular trading platforms we've been using and will continue to do so even after DEX release.

A lot of investors are giving no doubt that bitcoin will increase in price significantly after institutional investors come to the industry, which in its turn will become stable and get rid of a bunch of problems it used to deal with. This will also affect altcoins, so investing in crypto is probably one of the best investing routes you can follow these days.

Bakkt, Fidelity and LedgerX - these are platforms for institutional investors, and during the last time these have been working hard in order to release their platforms in the nearest future. At the moment all of them are waiting approval from the US government; authority (CFTC) that is responsible for making such decision has in general good view of cryptocurrencies industry so it probably won't get long until all three platforms are endorsed.

Who will become the first platform to make it possible for institutions to invest in crypto? An interesting questions with big amount of pitfalls we're probably going to answer today


Bakkt. The most hyped as well as reliable

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Spent all last year in negotiations with CFTC, trying to explain how it is important for the whole world to have such a platform. Despite the quantity of problems with authorities, they are striving for greatness, in the very end their platform will be launched for sure. Bakkt creator is Intercontinental Exchange (ICE), whose mather company is New York Stock Exchange. List of their partners is even better:
  • Microsoft
  • Starbucks
  • BCG
Platform they are working on is supposed to become a full ecosystem, in which clients are able to buy, sell and store their coins. First product they are planning to launch is Bitcoin futures. These means that bitcoin will literally become a currency, instead of using bitcoin equivalents in contracts institutional investors will be using the “digital gold” itself. Every contract will cost 1 BTC and could be bought in US dollar, English pound and Euro.

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Bakkt release was planned to take place in the autumn 2018, then it was postponed until December, however it wasn't released yet due to the shutdown of American government which made it illegal to make such an important decisions. Last time release of the platform was about to take place in March.

At the moment, American regulator still have a few questions to Bakkt. The most important of these is the problem of users security. However, it seems like release is quite near - in their latest entry it is said that “The day of release is near, but still we have some additional work to be done”.


Fidelity Investments. The most experienced

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Investment company that has more than 13 thousand institutional investors using their services and more $7,2 billion under their control. This way company needed their own solution that was announced in October - an investment platform for influential users and cold wallet for users’ crypto assets.

While planning to run the platform, Fidelity didn't have any big ambitions of creating a whole ecosystem, but what they planned to do a convincing tool for simple buy/sell of cryptocurrencies for institutions. Fidelity Digital Asset Services is going to work with spread Bitcoin, Ethereum as well as other popular digital currencies. But release of the platform was postponed due to some problems with regulation of the assets.

In the February, Fidelity has proudly announced that their crypto investment platform is on the last stage of testing, for which company has chosen a few key clients. They also continue their work with lawyers in effort to solve a lot of legal issues that are tightly connected with crypto industry.

What is more, Fidelity has done a research, in which 450 most influential players on the market taken place. They found out that 22% of poll participants are investing in cryptocurrencies and are going to double their incomes from these investments in the years to come.

Platform from Fidelity is already available for certain people, but it is official launch will take place in the forst quarter of 2019
 
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Lebedev

Lebedev

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LedgerX, CoinFLEX and others

Investment giants who used to monopolize industries will probably have to compete with companies that were unknown some time before, but are becoming more and better known for their ambitions on crypto industry. However, all of companies must cooperate with governmental regulators and it is obvious who has more lawyers and as sequence who is more able to protect their rights and plans.

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Ledger, however, has recently announced that they are going to become the first crypto exchange overthrowing Bakkt, they are planning to find common ground with US government and make bitcoin futures available for institutional investors as well as all the people.

They are working on a platform called Omni, where users will be trading crypto futures and assets. But in order to launch the platform, LedgerX has to get approval from CFTC, request has been sent in November 2018. Despite such a long time they have to wait for governmental response, they have been Bitcoin-custodian for more than year and a half using licence from the same authority they have obtained long before.

The most important aspect of the platform, how they think in LedgerX, is clients experience they are getting from the very first day using platform. The fact that they have a lot of experience in creating user friendly tools is considered to be an exclusive advantage. It was also announced that users of the platform will get access to the general LedgerX liquidity pool.

While LedgerX, Bakkt and Fidelity have to work hard in order to get approval from US government to issue Bitcoin futures, other companies can find themselves in more liberal political environment, most perspective of them is CoinFLEX - having their head office located in Hong Kong and being officialy registered on Seychelles. Platform is mostly aimed at investors from Asia, but residents of America and Canada are strictly restricted from using it.

Unlike other companies that are only going to have their platform released, CoinFLEX started its work in February 2019 and institutional investors are already able to trade Bitcoin futures. Comany officials are very proud of the fact that traders often use their futures as a clear tool of arbitration.

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In the nearest time, Ethereum and Bitcoin Cash pairs will appear on the market as well as a few “stablecoin-stablecoin” pairs, what will make it real to easily exchange USDT to USDC. Platform also has its own token, that is designed to encourage traders to provide liquidity.

Platform had already become popular among top investors. Recently there were news of that big Western companies such as Digital Currency Group and Polychain Capital have invested quite a lot in CoinFLEX. What is more, Roger Ver, Trading Technologies and Coinfloor owns a part of the company.

One of the biggest stock exchanges in the world NASDAQ is also highly interested in crypto trading. In the end of last year they have announced that they are about to issue bitcoin futures as well. But unfortunately there were no more news coming from the second biggest stock exchange later.

However a few days ago there were a report from Cryptopolisx - user who have bought 1 BTC on Nasdaq platform using account of TD Ameritrade broker.

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Users managed to find out that trades of bitcoin asset with ticket CXERC started on 10 April, but stock exchange haven't announced it yet. Brocker officials assumed that cryptocurrencies trading might be in testing.

However, not all the platforms are trying to create a platform that provides investors with futures. On the other hand crypto exchange from Chicago Seed CX, that started to support trading of BTC/USD pair for institutional investors back in the beginning of the year. Company claims to have all documents and licences that are required, so it has no problems governmental regulator. Traders have access to marginal trading, while all deposits are insured from Federal Deposit Insurance Corporation (FDIC).

As we can see it, institutional investors are still unable to invest in cryptocurrencies. Despite which platform Bakkt, Fidelity or LedgerX will become the first to provide investors with such an opportunity, it will for sure be extremely positive for crypto as an industry. Really big money will get on the market.
 
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