What Bitcoin Futures Mean To The Future of Bitcoin

Bitcoin futures

Bitcoin futures launched on the Chicago Board Options Exchange (CBOE) on December 10, 2017 and started trading the day after. It’s also now started trading on the bigger Chicago Mercantile Exchange (CME) on December 18th, 2017.

SEE ALSO: All You Need To Know About Bitcoin

What does Bitcoin Futures mean?

Bitcoin futures are contract agreements that will be based on the price of Bitcoin and speculators can place a “bet” on what they believe the price of Bitcoin will be in the future. This contract  helps investors to able to speculate on the price of Bitcoin without actually having to OWN Bitcoin.

There are 2 main consequences for the release of these futures:

  1. Since Bitcoin remains unregulated, Bitcoin futures can be traded on regulated exchanges. This is great news for those who are concerned about the risks related to the lack of regulation in the crypto industry – retail and institutional investors.
  2. In countries where trading Bitcoin is banned, Bitcoin futures allow investors to still be able to speculate on the price of Bitcoin.

Bitcoin Futures will contribute positively to the value of Bitcoin. How?

  1. It will be much easier to buy, sell or trade Bitcoins as Bitcoin Futures will allow more liquidity in the market.
  2. Institutional investors are positioning to start offering this contract to their clients as a viable investment option in a regulated market.
  3. People who were very skeptical of Bitcoin, due to lack of regulation, will now be more open to investing directly in Bitcoin or in Bitcoin Futures.
  4. Countries that have banned the trading of Bitcoins are likely to start looking at possible options to customize this contract or be a part of it.

Do you think Bitcoin will go down in value? Think again.

JP Morgan, whose CEO (Jamie Dimon) has tagged Bitcoin as a fraud in September 2017 is already one of the few institutional investors that are prepared to offer these contracts to their clients. It might interest you to know that JP Morgan is the 6th largest bank in the world and the largest in the US with about $2.5T under management.

Read the full explanation of Futures and its application to Bitcoin with CoinTelegraph

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Bitcoin Tops $18,000 In Debut On Major Bourse


Bitcoin surged past $18,000 after making its debut on a major global exchange but was trading lower on Monday, highlighting the volatility of the controversial digital currency that has some investors excited but others nervous.

Trading on a futures contract began at 6:00 pm (2300 GMT) on the Chicago board options exchange (Cboe) at a price of $15,000.

Heavy traffic made the Cboe website inaccessible in the first 20 minutes, but it said that “trading runs on very separate systems and was totally unaffected by the website issues.”

Around 1000 GMT on Monday, bitcoin was trading at $17,600 per unit for the futures contract expiring on January 17 after reaching a high of $18,850, according to Cboe’s website, meaning it exceeded the highest value reached on alternative non-regulated internet platforms.

Futures expiring on February 14 and March 14 were higher, trading at $19,140 and $19,100 respectively at the same time on Monday.

A futures contract is a financial product that allows investors to bet on whether the currency’s price will rise or fall.

Bob Fitzsimmons, a futures manager at Wedbush Securities, described the opening as “quiet and steady,” as Cboe data showed around a thousand trades were made in the first two hours.

The Cboe debut is expected to be followed a week later by a rival listing on Chicago Mercantile Exchange.

READ ALSO – How To Start A Profitable Bitcoin Business

It marks the first opportunity for professional traders to invest in bitcoin on a traditional platform, even as some steer away because of a lack of regulations surrounding the currency.

“It gives it legitimacy. It recognizes that it’s an asset you can trade,” said Nick Colas, of Data Trek research.

Among those cheering the launch are the Winklevoss twins, who have been called the first bitcoin billionaires. Critics include financial commentator Jim Cramer, who warns that prices could tumble once the new trading venues open the door to “short sellers,” who bet on downward moves in assets.

The two launches were made possible after a key US regulator, the Commodities and Futures Trading Commission (CFTC), gave the green light to the exchanges on December 1, while warning “of the potentially high level of volatility and risk in trading these contracts.”

Anticipation of the first mainstream listings for the digital currency has been a catalyst for a sharp price increase in recent weeks. Bitcoin opened 2017 at around $1,000, surged past $10,000 for the first time last month and soared as high as $16,777 on Thursday before retreating somewhat.

– Going mainstream –
The actual opening of the Cboe market, an electronic trading venue, was a low-key affair, lacking the pomp of an initial public offering, which is often marked by the new entrant ringing the bell of the New York Stock Exchange.

The embrace by mainstream exchanges of bitcoin futures marks a sea change from the days when the digital currency was associated with drug dealing and other illicit activities.

The Cboe said it has taken precautions to address wild fluctuations: trading will be suspended for two minutes if bitcoin prices go up or down 10 percent, for instance.

“We are committed to continue to work closely with the CFTC to monitor trading and foster the growth of a transparent, liquid and fair bitcoin futures market,” the Cboe said.

Still, plenty of key figures in and around markets are taking a cautious approach to bitcoin, which has no central bank backing it, and no legal exchange rate.

The Futures Industry Association, which includes some of the world’s biggest derivatives brokerages, criticized the CFTC’s move in a letter to the regulator, saying contracts are being rushed through without properly weighing the risks.

“A more thorough and considered process would have allowed for a robust public discussion among clearing member firms, exchanges and clearing houses,” the association said.

Several leading financial heavyweights are still studying bitcoin and not serving as financial intermediaries. This group includes JPMorgan Chase, Bank of America Merrill Lynch, Citigroup, Barclays, Morgan Stanley and Societe Generale, said people close to the matter.

Of the larger banks, only Goldman Sachs and ABN Amro are serving as intermediaries for the trades. That means most of the terrain will be dominated by smaller entities that are typically requiring larger than usual margin requirements — funds set aside as collateral in case of losses.

The Cboe, for its part, sought to reassure investors.

“We are committed to continue to work closely with the CFTC to monitor trading and foster the growth of a transparent, liquid and fair bitcoin futures market,” it said in a statement.

Wedbush Securities has lifted its margin requirements and is only permitting trades from clients on a “selected” basis, said Fitzsimmons.

“We are commissioning only the select clients who have experience in bitcoins,” he said.

“Our risk systems are ready and we have made sure we have our customers and firm protected by increased margins and increased scrutiny.”

SEE ALSO – 10 Compelling Reasons To Join This Bitcoin Business Opportunity

What Bitcoin Is And What It Is Not?


Bitcoin is not MLM. Bitcoin is not MMM. Bitcoin is not Ponzi.

Bitcoin (BTC) is a digital currency that is generated when a computer miner completes some sets of complex equations with a secure channel on an online public ledger called Blockchain.

BTC can be exchanged directly for fiat currencies like US dollar, Euro, Naira etc on several exchanges worldwide.

READ ALSO​How To Buy And Sell Bitcoins in Nigeria

BTC can be likened to Gold and used as an asset; where you buy and hold, hoping to sell at an higher price.

BTC can be used to pay for goods and services online; it is secure, cheaper with very low transaction fees and faster.

You do not need to HAVE any money to start.

At least, you need to know first.

There are 3 main parts to get started:

Part 1: BTC wallet.
Part 2: Buying BTC (in Nigeria from the comfort of your home).
Part 3: Get returns on your BTC using an online trading system, tested and trusted like this one.

It’s when you get to the 3rd part that you will ever need money.

Information is power. Get informed. Get empowered!

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Download Our Free Report: How To Make Money With Bitcoin

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​How To Buy And Sell Bitcoins in Nigeria

buy and sell Bitcoins in Nigeria. centmillionaire

Here are all the details you need to buy and sell Bitcoins in Nigeria.

Pay close attention. This is important!

Bitcoin can be used to buy and sell online. The transaction is secure and very fast. The only thing you have to be careful about is to be sure about the wallet you’re sending the coins.

Luno is a verifiable exchange app service that you can link your private account and buy and sell Bitcoins. Here is how to get and use the Luno app.

Nairaex is another verifiable exchange service in Nigeria.

InstantExchangers is another exchange service in Nigeria.

Remitano is a peer-to-peer Bitcoin exchange, available in Nigeria.

Paxful is a peer-to-peer exchange service in Nigeria.

LocalBitcoins is also a peer-to-peer Bitcoin exchange service, available in Nigeria.

(By peer-to-peer exchange service, it means when you want to buy Bitcoins, the platform matches you with someone that wants to sell. You both need to agree on a rate before you can proceed to transact. The same applies when you want to sell your Bitcoins for fiat currencies).

With more options of dealers and exchanges, you can be sure to get a good rate.

Here are some things to take note of:

1) Ensure you’re fully registered on the platform and follow their detailed instructions as per how to manage your account with them. (Bitcoin is really uncharted territory for a lot of people in Nigeria, so the more you learn about it,
the more you possess the knowledge required to transform your life.)

2) As always, be careful while dealing over the internet and under no circumstances, give your personal details to ANY dealer on any site.

3) Always, do a simple Google check for the current rates of Bitcoin to your local fiat currency. Run away from dealers aiming to give you at very cheap rates. Don’t be greedy. They are scammers! Be very careful.

4) Always COPY the wallet identifier as shown on your screen (with the COPY option), never try to manipulate the identifier or writing it out or else you risk sending your money to a wrong account.

If this is your first time of buying or selling Bitcoins, here are the 2 things you will need to transact:

1) a wallet (this is your personal account to store your Bitcoins. Here is how to get one.)

2) an account with one/more of the exchange services/dealer.