London-based bitcoin cloud mining service CEX.IO has plans to add marging trading. In an interview with CoinTelegraph, Co-founder and CEO Oleksandr Lutskevych, said that CEX.IO is preparing to roll out a bitcoin margin trading program that will dynamically calculate risk via custom algorithms.
Lutskevych explained:
“We are preparing to launch beta testing of Bitcoin margin trading to satisfy the needs of traders. Margin trading on CEX.IO will imply several levels of leverage, and a special algorithm for calculating risks, and thus, a user will never be in the red, even in critical situations.”
CEX.IO also revealed that its 600,000+ clients have in excess of $40 million worth of deposits at the exchange, which have originated from traditional payment methods like bank credit cards.
In April, CEX.IO launched its credit card withdrawal option – which gave users the ability to instantly withdraw fiat currency directly to their bank cards – without needing to verify their identities, “Moreover, card withdrawals are possible without user’s full identity verification, meaning that user needs to prove ownership of the card only. All in all, it is faster, cheaper, and simpler.” said Lutskevych, in a previous interview.
According to Lutskevych, CEX.IO is currently the only bitcoin exchange in the world to offer Visa and MasterCard withdrawal/deposit options, and he believes this has contributed a great deal to the influx of capital into the exchange:
“When it comes to trading Bitcoins, be it a one-time buy, or professional trading, it is extremely important for an exchange to provide easy and fast solutions for payment options. Synergy of fast and cheap deposits via payment cards and raise of Bitcoin liquidity led to significant growth experienced by CEX.IO over the past year.”
In addition to bitcoin trading, CEX.IO is also catering to traders looking to buy/sell Ether – the digital token of the Ethereum blockchain – which was added to CEX.IO on the 18th of April, 2016.
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