We’re happy to make several announcements following our previous news regarding the possibility of a hardfork in Bitcoin’s blockchain…
First, the hardfork did happen! Starting from 1 August, 2017, the blockchain has split in two: Bitcoin (BTC) and Bitcoin Cash (BCH) – with the two cryptocurrencies sharing a common history but, from now onwards, a fully independent future.
Second, the margin requirements to our Bitcoin contract have now been returned back to 1:5, as we don’t expect any new events of this scale in the near future. Please note that this will also result in a reduction in the margin requirements to your open position on BTCUSD.
Third, although this event didn’t resemble a traditional split – as the price of Bitcoin didn’t really drop – some BCH were credited to our balances on the exchange; and as we promised, we’ll share the value of the received altcoins with everyone who held open positions on BTCUSD at 20:08 EEST on 1 August, 2017, proportionally to the BTC value of your positions.
Finally, we’d like to proudly present the brand new Bitcoin Cash cryptocurrency – which immediately became the third most valued cryptocurrency globally by market capitalisation, surpassing Litecoin and Ripple – as a new instrument for our flagship Admiral.Markets account, please see the terms below:
- Symbol: BCHUSD
- Leverage: 1:5
- Typical spread, USD: 23
- Contract size, BCH: 10
- Minimum contract size and step, lots: 0.1
- Maximum contract size, lots: 3
- Commission, USD: 0
- Swap (long), interest rate: -10%
- Swap (short), interest rate: not applicable
- 3-day swaps: Friday
- Minimum margin, BCH: 2
- Minimum hedged margin, BCH: 1
- Trading schedule: 24 hourly, 7 days a week.
BCHUSD will be enabled for trading on 2 August, 2017, on the Live2 server, following the server restart at around 23:59 EET. In the meantime, you can already test the Bitcoin Cash contract on the Demo2 server (please right-click ‘Market Watch’ and choose the ‘Show All’ option to see the new instrument).
Admiral Markets also invites its clients to continue to trade other cryptocurrency products: Bitcoin (BTCUSD) Ether (ETHUSD), Litecoin (LTCUSD) and Ripple (XRPUSD).
