Published On: Wed, May 16th, 2018

LedgerX Introduces CFTC Licensed Bitcoin Savings Accounts

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LedgerX has introduced a Bitcoin savings product licensed by the CFTC. The Bitcoin asset management platform has designed this new product to cater to long-term hodlers.
The LedgerX Bitcoin ‘Call Overwrite’
Launched on May 15th, the LedgerX Bitcoin savings account enables investors to earn a fiat-based yield on their Bitcoin holdings. Instead of hodling in the hope of a significant price increase, savers can now earn revenue from a call overwrite. Usually, overwrite contracts are for assets that are deemed to be undervalued or overvalued. The trader overwrites calls if the latter is the case and overwrites puts if the former is the case.

With this investment technique, traders deposit Bitcoin in their LedgerX accounts. The trader then sets a call option sold at a longer date with an accompanying slightly higher strike call option. LedgerX already offers similar trading techniques, but this new product makes the process a lot less complicated.
The new Bitcoin savings account will enable less finance-savvy investors to earn USD premiums on their Bitcoin holdings. Traders have the freedom to select both the number of bitcoins and the premium rate. Options contracts on the new account will be offered in both three …

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