The global digital assets prime brokerage firm FalconX introduced a new service to make the process of swapping BTC to USD for miners as comfortable as possible.
On October 15, the firm launched a product that helps the miners manage their liquidations, thus creating value and increasing efficiency. This service comes when most miners are straining to raise capital due to the fluctuating market cycles of cryptocurrencies.
The newly developed platform by FalconX is expected to help young miners who are frustrated with the time-consuming process of selling their digital assets for cash. Miners, the backbone of the blockchain infrastructure, worked with several third parties and faced delays that could impact their business before using this provider's services.
FalconX solves these problems with an electronic streaming service that does not require manual trading or additional operational processes. When registering, clients obtain a unique address for their deposits, where mined cryptocurrencies can be instantly converted into USD, allowing for faster reinvestment in clients' businesses.
This particular action improves the conversion transition and minimises the utilisation of numerous intermediaries, which increases the chances of errors to a minimal level. The service offers a range of tokens based on POW, including BTC and LTC, which are still in high demand among miners worldwide.
FalconX also makes it easier and more efficient, as it now leaves more time and less stress for the miners to do what they do best: mining the resources and not being confused about how to dispose of their assets.
This auto-liquidation feature is one of the many strategies FalconX is pursuing to improve the plumbing of crypto's capital markets. Understanding miners' importance and contribution to cryptocurrency, FalconX offers products to help these individuals with their finances.
Furthermore, the platform helps to solve the problem of regulating cash receipts and expenditures and protects miners from fluctuations in the price of digital currencies.
In addition to continuing to support miners' needs, FalconX aims to develop future facilities and services optimised for miners, such as liquidity, hedging, cash flow management, and financing solutions. These future services show the company's commitment to developing the Digital Asset industry and its aim to provide a better landscape for its major market participants.
However, as miners go through potentially unstable periods, including the latest Bitcoin shafting event, which saw miners receive fewer rewards, FalconX's platform can help them. This makes their operations more efficient and makes it easier for miners to remain profitable even during an economic downturn.