/biz/ - Business & Finance

can you explain cryptofutures to a newfag I just googled it and this was the definition. Derivative Products
Crypto futures are Derivative Products. Such products are a form of contract. In essence, futures form a commitment between two parties to either buy or sell an asset on a predetermined date, at a pre-established price. The agreement tracks an underlying; which in the case of crypto future is a Digital Token. Do I need to give them credit card info or some shit to make a contract because I'm a brokefag who wants to buy 1000$ worth of cardona and pay it off in 7 months.