Startup gets funding to bring high-risk margin trades to Bitcoin

If you thought the Bitcoin market was crazy before, just wait until traders get the ability to make leveraged bets on the virtual currency’s future price. From the what-could-possibly-go-wrong department, TechCrunch reports that New York-based startup Coinsetter has received $500,000 in seed funding to set up a Bitcoin trading platform that will allow for high-risk margin trades and short selling of Bitcoins. Coinsetter co-founder Jaron Lukasiewicz tells TechCrunch that the ability to make leveraged trades is vital to every major financial market and that giving owners the ability to trade Bitcoins in this way will help the virtual currency establish itself as a legitimate alternative to government-issued money. Margin trades, for those who aren’t up on finance terminology, involve borrowing



via Tech News Headlines - Yahoo! News http://news.yahoo.com/startup-gets-funding-bring-high-risk-margin-trades-034533445.html