Bakkt, a cryptocurrency trading platform from NYSE, is launched

If someone has not wanted to invest in the digital asset market so far because he was afraid of losing money by an unknown broker, he can dispel his fears. The Bakkt platform - founded by Intercontonental Exchange (ICE), a company directly related to New York Stock Exchange (NYSE).

So far kryptowalutami it was possible to trade through private exchanges. There were a lot of them - bigger and smaller - but there were also high-profile hacking attacks that resulted in spectacular falls and loss of funds. Some of the platforms have set up special funds in which part of the profits are deposited, intended to cover possible losses due to theft, but only the largest can afford it.

Now a platform has been created that wants to offer the highest level of security, guaranteed by the largest stock exchange in the world - the American NYSE. Bakkt - because this is the name of the new platform - was launched on Monday, September 23.09.2019, XNUMX. The deadline was postponed several times, but in the end all tests were successful, so it was possible to start business,  in which financial giants have invested: PayU, Boston Consulting Group,  CMT Digital, Galaxy Digital, Horizons Ventures, Pantera Capital, Intercontinental Exchange, Eagle Seven and Protocol Ventures.

Trading cryptocurrency contracts

Bakkt will offer cryptocurrency futures contracts. However, they will be billed differently than on CME. When the contract for Bitcoin will expire and the investor will not sell it sooner, he will not receive the settlement in the fiat currency, but Bitcoins. By investing in a long position, it will de facto buy Bitcoins at the price on the day the contract is settled. At the beginning, futures contracts will be twofold: billed daily and monthly.

Security in Bakkt

The new platform wants to attract users primarily the highest level of security on the market. On the Bakkt website we can read that some of them have been directly implemented with NYSE in New York. Additionally, they were enriched with additional security known from other cryptocurrency exchanges.

Bakkt can also boast of a "blessing", which is the official consent to the settlement of Bitcoin after the expiry of the contract granted by US regulators.

As if that was not enough, and hackers managed to reduce the wallet of the exchange or its users, a policy was purchased that covers both hot and cold wallets. Its value is - a trifle - USD 125 million.

Does Bakkt start the Bitcoin course?

Entering the market of a new player with huge ambitions may cause significant movements in the price of Bitcoin itself. Bakkt is to popularize cryptocurrency trading, make it safe, easy and predictable. What more does it take to increase the value of the world's most famous cryptocurrency? So far, the BTC rate has not reacted, but it is hardly surprising - trading on Bakkt is just beginning.

The most known and observed in social media by thousands of commentators, almost agree that Bakkt can cause the cryptocurrency market to open up for the masses. T believes that the new platform will increase confidence in digital assets, while John McAffe he wrote on Twitter that this was very good news, although for now ... he will not use this service.

What future awaits Bakkt? This is not yet known, but the financial thames behind the platform as well know-how New York stock exchanges allow you to assume that it will quickly become a player involved in the distribution of a large portion of the pie on the cryptocurrency market. And there is something to share, because the largest in the world currently achieve turnover of 25-27 billion USD per month.