Panxora now lets anyone trade stocks using cryptocurrency as collateral
Any person who holds Bitcoin, Bitcoin Cash, Ether, Ethereum classic and Litecoin among other cryptocurrencies can now generate returns by trading over 500 stocks from Germany, the UK, Hong Kong and the US including Deutsche Borse, Adidas, Apple, Lenovo and EasyJet. This is all without selling the cryptocurrency and using it as collateral margin instead.
Panxora cryptocurrency exchange service will now allow cryptocurrency holders to live trade stocks, various currency and other asset classes. You simply deposit the required cryptocurrencies into your account and are able to trade stocks and ETF markets in amounts of up to five times your account balance. It will support both long and short positions and the amount earned is then paid directly into your account in Bitcoin. The fees, according to the website, are comparable to those charged by conventional brokers.
In addition, they can trade crypto on a 2:1 margin on the same platform.
The company says this is the first step in their ultimate goal of dissolving the distinction between fiat and cryptocurrencies to unlock more options for crypto owners.
Thanks to Panxora, you do not have to sell to dispose, or to hold cryptocurrency assets without earning any returns, especially if you have large amounts of assets/money tied to cryptocurrency. You now have more options to generate income from your cryptocurrencies without selling them. Again, this means you do not have to get a loan from a different platform and purchase to sell crypto since it also offers a crypto market.
The crypto financial company has been operating since 2014 but the new cryptocurrency exchange service that allows crypto owners to trade stocks, is new.
In addition to being able to trade in cryptocurrencies, you can also create watch lists, view charts and scan the depth of the market while trading cryptocurrencies.