Key facts:
Goldman Sachs and boutique bank Cowen took a big step in banking crypto adoption.
The new cryptocurrency trading options will be available to institutional investors.
Despite the minor pullback that sent its price close to $40,000, Bitcoin it managed to break above $43,000 in a few hours. As Bitcoin continues to fluctuate within a tight range, analysts and investors are anticipating a big breakout to happen soon. At the moment, fundamental analysis indicates that such a breakout is very likely.
One step closer to legal tender
The deputy minister of the Malaysian Ministry of Communications and Multimedia recently proposed that the country should adopt cryptocurrencies as legal tender as more and more young people use them. «We are trying to see how we can legalize this so that we can develop the participation of young people in cryptocurrencies and help themZahidi Zainul Abidin said.
Malaysia is at the forefront of cryptocurrency adoption. Last October, the Finder Cryptocurrency Adoption Index showed that Nigeria has the highest cryptocurrency adoption rate in the world at 24.2%, followed by Malaysia and Australia. In these three countries, investors invest mainly in Bitcoin, Ethereum and Cardano. Now people in Malaysia can invest in cryptocurrencies that are considered securities.
While regulation remains a problem for Bitcoin adoption, investors and governments are now seeing the potential of BTC. According to Salvadoran Finance Minister Alejandro Zelaya, there is a staggering demand of up to $1.5 billion for Bitcoin bonds in El Salvador.
A milestone for institutional investors
Goldman Sachs is about to announce that it will become the first major US bank to transact cryptocurrency over-the-counter, according to a report from CNBC. Goldman Sachs will launch a Bitcoin-related instrument called a non-deliverable option with Galaxy Digital.
An over-the-counter transaction is a transaction without the help of an exchange platform. «This operation represents the first step that banks have taken to offer direct and customizable exposures to the crypto market on behalf of their clients.said Damien Vanderwilt, co-president of Galaxy Digital.
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Derivative-based trading allows investors to gain exposure to cryptocurrencies while reducing risks against volatile price movements. The new trading feature will be available to institutional investors and is expected to prompt more banks to open the door to crypto trading.
Maximize profits with 100x leveraged futures trading
Although the global market remains vulnerable against the backdrop of the Ukraine invasion and rising energy prices, Bitcoin is trading positively with its four-year moving average rising higher. As adoption continues to rise, Bitcoin would become more resistant to volatility and the market could ignore recent bearish sentiments.
Futures trading allows traders to bet on cryptocurrency price trends and profit from price differences. With the Bexplus 100x leverageyour fund will be enhanced and will allow you to earn a lot of money with small capitals.
For example, if you predict that the price of BTC will rally above $43,000 and you open a long position of 100 at $40,000. You will get the profit of ($43,000 – $40,000)*100 BTC/$43,000 = 6.97 BTC. With just 1 BTC used as margin, you can enjoy the ROI of up to 697%.
bexplus offers 100x leverage on BTC, ETH, DOGE, ADA, and XRP futures contracts. Bexplus is trusted by more than a million traders around the world, including the US, Japan, Korea and Iran. With no KYC, no deposit fee, traders can receive the most attentive services including 24/7 customer support and a personal account manager.
Other notable features
100% deposit bonus
Bexplus offers a 100% bonus for each deposit, with which you can open larger positions and earn more profit. Deposit 1 BTC and you will get 2 BTC credited to your account. Each user can get up to 10 BTC for each deposit. Bonuses cannot be withdrawn, the winnings obtained with the bonus can be withdrawn.
Bexplus BTC Wallet
When you are not trading, you can transfer your BTC to the interest earning wallet and enjoy up to a 21% annualized interest without any risk, which is undoubtedly one of the most profitable rates in the industry.
copy trading
With the copy trading Provided by Bexplus, you can automatically copy the trading of other great traders. It can be a really valuable portfolio for those just starting out in trading or those who don’t want to spend a huge amount of time managing their trades.
A demo account with 10 BTC
A demo account with 10 reloadable BTC offered by Bexplus can help you get better acquainted with leveraged trading and practice without taking any risk. You can also learn how to analyze the market and use the toolkit with the demo account.
Withdrawal and customer support 24/7
You can submit a withdrawal request anytime you want and get your deposits back in as little as 30 minutes during business hours. If you encounter any issues, you can contact customer support through different channels such as email and live chat.
Mobile app
With the Bexplus app, you can manage your account and trade anywhere and anytime you want. It also integrates other tools like live charts, news alerts, etc., which will be your proficient assistants in trading. Download the Bexplus app at AppleStore and google play.
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