Cryptocurrency exchange BQT Technologies has announced the launch of a P2P decentralized trading platform that will allow direct negotiations between crypto traders for short-term hedging.
BQT is the first decentralized P2P crypto hedge trading platform and community where the demand for an acquisition of crypto assets can be fulfilled with significant supply and negotiated directly among peer traders. The new venue will challenge existing crypto trading models, empowering traders to leverage their holdings of various crypto assets for a short-term period by means of escrow.
While many Blockchain experts are trying to find more ways to marry cyptocurrencies with their traditional fiat counterparts, BQT’s concept is to reduce dependency on fiat currencies altogether. Every crypto asset has a value and can be used as a negotiating tool to acquire another crypto asset.
The objective is to create a self-sustaining internal market and dynamic community, where the demand for the acquisition of crypto assets is met with significant supply of various crypto asset holdings, negotiated and exchanged directly by peer traders.
The current number of unique active users of cryptocurrency wallets is estimated to be up to 5.8 million today. As a result of the surge in interest in the technology, in 2017 alone, 175 crypto-hedge funds were established to manage assets valued at $3.5bn-$5bn.
The principle of basic exchange trading of crypto assets has repeatedly been hit as a result of the extremely volatile trading of cryptocurrencies
At the same time, the principle of basic exchange trading of crypto assets – buying and selling according to supply and demand – has repeatedly been hit as a result of the extremely volatile trading of cryptocurrencies. In addition, traders are complaining about issues such as the difficulty of trading in a wide range of cryptocurrencies, and receiving or withdrawing money from trading exchanges. All of these have created general insecurity in the market that have not yet been resolved.
BQT, which stands for “better, quick, and transparent”, has developed a platform designed to address these issues. It offers to do so through a return to one of the principles in the development of the crypto industry in the first place: the empowerment of people. BQT’s technology and P2P hedge trading platform is designed to simplify an industry dominated by large institutional hedge funds, effectively decentralizing it, and making crypto hedge trading accessible.
Hubs of similar financial instruments such as investment platforms, short-term trading platforms, binary options, forex and even online betting operators can capitalize on their existing customer base by introducing them to crypto hedge trading via BQT. Each user of the exchange will be able to open an offer to buy or sell crypto assets and conduct direct negotiations.
BQT plans to utilize its native token, BQTX, as the main coin for the platform. All fees are payable ONLY with BQTX tokens to ensure the liquidity and utilization for the tokens. The BQTX tokens can also be used as escrow collateral for some trades or added as additional collateral.
Edward W. Mandel, co-founder, and CEO of BQT, said: “As the trade in cryptocurrencies progressed, the traders’ just demand for greater flexibility in creating transactions, as well as for interaction and information-sharing among traders, increased. We have set an objective to take advantage of the platform and build a community and culture of sharing and help, from experience accumulated by each participant in the system”.