Very interesting. You can lock your btc to $$ price. If you lock in 1 btc worth $400 and price drops to $200 they will give you 2btc. If it rises to $800 they give you 0.5 btc. Fixed $$ and variable btc. Great to assist with merchant adoption
Yes very good, merchant receives BTC then straight to hedge, I never thought of that. Also you can hedge dollars, I just worked that out so you can hedge AUS vs US ect pretty neat, Add that with my debit card and I am all set.
Yea it sounds like a sweet setup. Merchants have no need to worry about fluctuating btc price and can just lock in the $$ meaning no need to dump to fiat. Then when price is stable they can move out of hedged account to grow the value :-).
Hmmm, there are fees involved. You put 1 BTC in to the hedged account, you don’t appear to get 1 BTC back even if you try it immediately. Doing a swap from 1 BTC to GBP and back costs £2.91
Whether that’s worth it I don’t know.
This test was when BTC was 147.16 going into the hedge and 147.17 coming out.
They have a buy / sell spread like any market that would be the reason, you put your money in at the sell price but withdraw at the buy price the spread id about 2% + there is a 1% fee. This is for long term not short term unless the market has a wild swing.
Made a bitcoin overnight using the hedge function of coinjar. Very happy indeed
Wow that is awesome, coinjar are really pushing the industry in a great direction. Now if the price starts tanking you can lock in your investment and then watch your BTC grow without risk
I tried the hedging as well last night and ended up making 0.27 BTC off 3BTC, @tankjnr hedged vs AUS, I hedged vs US. Tank wins as he got 10% more BTC
This option is not a bad one if you want to lock in your BTC price
So for now my BTC is priced at $260 US
I hedged my 5.16 BTC on Saturday and ended up with around 4.86 after it went in. I missed the big spike over the weekend, but just took it back out at 5.229. I should of waited until the top of the spike, but it might have gone either way I guess. Rising again now though …