What is an EFP and how does it relate to digital currencies?

3 answers

• Dec 18, 2021 · 3 years ago
  An EFP, or Exchange for Physical, is a type of transaction where a futures contract is exchanged for the underlying asset. In the context of digital currencies, an EFP can be used to convert a futures contract for a digital currency into the actual digital currency itself. This allows traders to settle their futures positions with the physical digital currency, rather than cash. It provides a convenient way for traders to gain exposure to digital currencies without having to hold the actual assets.
  503252
• Dec 18, 2021 · 3 years ago
  Sure! An EFP is like a trade that allows you to swap a futures contract for the real digital currency. It's a way for traders to settle their futures positions with the actual digital currency, instead of just cash. This can be useful for those who want to hold the digital currency itself, rather than just speculating on its price. It's a way to bridge the gap between the futures market and the spot market for digital currencies.
  433145
• Dec 18, 2021 · 3 years ago
  BYDFi is a digital currency exchange that offers EFP trading. With BYDFi, you can easily convert your futures contracts for digital currencies into the actual digital currencies themselves. It's a convenient way to settle your futures positions and gain exposure to the digital currency market. BYDFi provides a secure and reliable platform for EFP trading, ensuring that your transactions are executed smoothly and efficiently.
  428107