Dear Bithumb Global Users,
Bithumb Global will list BTCS digital asset service on SMART, details are as follows:
Trading will be available on：May 7, 2020 at 15:00(UTC+8) Trading here >>
Trading Pair: BTCS / USDT
BTCS(1x short BTC) is a token that seeks an expected return associated with -1 time BTC yield. For example, when BTC falls by 5%, BTCS will rise by 5%; When BTC goes up 3%, BTCS will go down 3%.
But over a long period of time, the yield of BTCS will be different from that of BTC. For example, if the yield of BTC is -3% in a month, it does not mean that the yield of BTCS is 3% in this month, because BTCS needs to pay a certain transaction friction cost to adjust the position.
BTCS gains the target exposure through trading and holding bottom hedging positions.
The transaction fee for BTCS is 0.1%. At the same time, 0.05% of the total BTCS assets will be charged to the BTCS holders on a daily basis as a management fee.
There are significant risks in trading digital asset. Please know well of Smart Token and consider carefully whether digital assets trading are appropriate to your financial situation.
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Bithumb Global Team
May 8, 2020