ST. LOUIS (KMOX) – You can now trade bitcoin futures on a major US exchange. Future contracts for the cryptocurrency were available for the first time on the Chicago Board Options Exchange on Sunday afternoon. Bitcoin is a digital currency that has exploded in popularly and volatility this year.
Oliver von Landsberg-Sadie is the founder of cryptocurrency brokerage firm BitcoinBro. He says he expects volatility will continue for some time.
“My recommendation is always to understand what it is before you even start thinking about putting money into it, and when you’re ready to put money into it, only put as much in as you can afford to lose,” he says.
The CBOE futures do not involve actual bitcoin. They are securities that will track the price of bitcoin on one of the larger bitcoin exchanges. There was so much traffic on the exchange’s website the CBOE issued a statement saying visitors may find the website to perform slower than usual, and that it may be unavailable at times.