New BitTorrent Token (BTT) Perpetual Contracts Added to Gate.io Crypto Exchange
Gate.io launched perpetual trading contracts for the Bit Torrent Token (BTT) on February 6th, 2019.
The year has started off brightly for two cryptocurrencies on the scale, namely Tron (TRX) and Bit Torrent Token (BTT). The former acquired Bit Torrent Ltd. in the late stages in 2018 and introduced the BTT token that will ease out file sharing among the users. Gate.io has added the new token to a portfolio of cryptocurrencies available for perpetual trading.
Gate.io Launches BTT Perpetual Contracts
The announcement made on the blog site of Gate.io revealed that the cryptocurrency trading platform has introduced the BTT/USD perpetual contract trading. Perpetual contracts allow investors to lower possible risks by locking in future prices today. Investors trading in such investment tools makes their profits by going short or long the digital asset.
The BTT token becomes the 19th coin to be added after the launch of the contracts on January 19th, 2019. Other tokens with perpetual contracts on Gate.io include Bitcoin (BTC), Ethereum (ETH), Eos (EOS), Ripple (XRP), Bitcoin Cash (BCH) and Bitcoin SV (BSV), Tron (TRX) among others.
Perpetual contracts is an investment tool that acts as a futures contract but has no expiration date allowing users to cash in at any point in the future. The exchange has a maximum limit of 1 BTC per investor on the perpetual contract. The amount changes as risk profile improve over time. Investors are exposed to 100X leverage while trading perpetual contracts to increase their profits while trading. However, remember high leverage amplifies your profits as well as your losses.
The BTT Token
The Bit Torrent token launched on Binance Launchpad, Binance exchange platform to launch new tokens earlier in the year. The craze and marketing of the BTT token caused rapid demand for the tokens as they sold out in less than 20 minutes. The token is set to improve the sharing speeds on the Bit Torrent platform by incentivizing the seeds to keep the files on their computers.
The BTT token is currently ranked 1733rd on Coinmarketcap with unknown market capitalization. The token is currently trading at $0.000910 USD, representing a drop of 4.58% in the last 24 hours.