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.
Bithumb Global Team
May 8, 2020