Home Initial Coin Offering Can’t Do Bitcoin Futures? Try Prediction Markets on the Blockchain

Can’t Do Bitcoin Futures? Try Prediction Markets on the Blockchain

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Bitcoin futures are big right now, with both the Chicago Mercantile Exchange and the Chicago Board Options Exchange offering them for institutional investors who want to hedge against the volatility Bitcoin is notorious for.

However, futures are not the same as trading the actual assets. Instead, futures contracts are like cash settled bets on a particular outcome, over a set period of time. For instance, if you believe the price of Bitcoin will be lower in a month, than what it is today, you can short it, thereby securing yourself in the event that the price does drop. Similarly, if you believe the price will go up, you can long it, and lock-down the market price today, making a profit if it goes up later.

If you are interested in the concept, but are not able to trade Bitcoin futures contracts, you can try Stox, a blockchain-powered prediction markets platform that can act like an alternative, allowing you to profit from the outcome of a particular event, which can be Bitcoin’s price at a certain date.

With Stox, making markets is a breeze, and the liquidity is handled by STX tokens, on the Ethereum blockchain. The use of smart contracts ensures security and reliability of all predictions, and the simple interface allows for hassle-free participation.

Since its successful ICO earlier this year, Stox has managed to release frequent updates, including the latest Galton upgrade and an overhaul of the platform’s design and user-interface.

Price wise, the token has managed to hold its own since after the ICO, despite the usual sell-off leading to a drop from over $2.50 to under $0.50. Since, then, STX has only once dropped under $0.40, and is currently trading over $0.50, despite the ongoing market correction.

As development is actively ongoing, more updates are expected, particularly as testing on private Ethereum nodes progresses further.

If you’re interested in a post-ICO project that has promise, utility and a decent MVP, you should take a look at Stox.



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