Singapore-based cryptocurrency exchange, CoinDCX announced the launch of its futures trading on Monday. This was one of the most recent addition to the global cryptocurrency platform as it would help to maximize the trading potential of the traders with leverage up to 15x.
The new product will have negligible maker and taker fee, substantial liquidity, high level risk management, and super-efficient trading engine. The most popular among them is the bitcoin futures, which will be available to trade on the platform with 15x. Not only that, the platform will additionally offer future trading on 8 leading altcoins. Some of these include Ether (ETH), XRP (XRP), Bitcoin Cash (BCH), Litecoin (LTC), Eos (EOS), Cardano (ADA), and Tron (TRX). Users can also trade perpetual future contracts with Bitcoin and Ethereum perpetual futures.
For the uninitiated, futures trading will be slightly different from margin trading. While margin trading offers leverage upto 5x, futures trading will offer leverage upto 15x. Futures market is free of the limited liquidity, unlike margin trading. As a result, the former offers lot more liquidity as compared to the former.
The platform will offer a variety of contracts to trade. Some of them includes direct future contracts, inverse contracts, and perpetual contracts, which in turn will help traders strategize their trades.
Photo credit: Digitex Futures