A company has released a new token that allows people to earn gains whenever bitcoin falls. The company is a Swiss blockchain enterprise known as Amun, and it seeks to provide customers a chance to earn money whenever bitcoin undergoes “inverse price movements.”
Amun Has Released an Interesting Token Product
The token is based on an exchange-traded product (ETP) that was released by Amun back in January. In an announcement, the company explains:
Typically, these purchases are short-term in nature, usually on a daily basis, as the holder aims to move in quickly to leverage a near-term decline in bitcoin to make a positive return.
While the token clearly has an interesting path, it’s unclear how many customers can truly earn money with the token during the time of writing given that bitcoin has just cleared the $9,000 mark again in just a couple of weeks. As of this morning, bitcoin is trading for about $9,100, meaning it’s added roughly $300 to its price over the past 24 hours. Granted the currency continues this present trend, Amun clients don’t stand to earn anything over the coming weeks.
Still, CEO of Amun Hany Rashwan explained in an interview that customers are always looking for ways to cut back on their losses, and with the volatility of bitcoin at an all-time high following the coronavirus pandemic, he believes this new token has a solid future in the crypto industry and could do customers a lot of good. He states:
Demand for these leverage and inverse tokens is tremendous. The users want the ability to buy these kinds of products in an easier and safer way.
Rashwan says that the token is available to both institutional and retail traders, meaning you don’t necessarily have to be a professional trader to take advantage. In addition, the coin is being released just a few days before the halving is set to take place.
Rashwan says that while many analysts are currently bullish about the upcoming event, he says there’s always a chance things could go wrong, and he thinks the new token is a good way of giving people the confidence they need to leverage any potential bitcoin losses this month.
The token was designed by a group called 21Shares. It presently lists nearly a dozen ETPs on various European stock exchanges.
Keeping Things Easy
Rashwan claims BTC is one of the simplest assets out there, which explains why so many people want to invest in it. He comments:
I’m financially quite literate and it’s not always clear what I’m buying with these products. If you are buying the actual figures, then you must handle your own margin and the collateral and worry about liquidations. It’s a whole slew of things if all you want to do is just bet on the price going up or the price is going down.
The post Amun Releases New Token Designed to Alleviate BTC Losses appeared first on Live Bitcoin News.
Source: Live Bitcoin News