Coinbase launches perpetual futures trading
Coinbase launches perpetual futures trading
Cryptocurrency exchange Coinbase has announced the launch of perpetual futures trading for its clients outside the United States on Coinbase Advanced, a platform designed for experienced retail traders.
This decision is based on the growing demand from traders for this type of trading, which accounts for 75% of global cryptocurrency trading volume. In addition, perpetual contracts allow traders to speculate on the price movements of cryptoassets without an expiration date.
According to the exchange's website, Coinbase Advanced clients can trade four perpetual contracts (BTC, ETH, LTC, and XRP) that are settled in USDC, a stablecoin backed by the U.S. dollar. In addition, users have access to up to 5x leverage on these contracts, except XRP with 3x, as well as a low entry fee of 0% (maker) and 0.03% (taker).
"With the launch of perpetual futures, Coinbase Advanced clients can now access both our highly liquid spot markets and derivatives in one integrated, secure, and easy-to-use interface. In addition, they can unlock new strategies with powerful tools like advanced order types, TradingView charts, and APIs to automate trading," Coinbase said in a statement.
The crypto exchange stressed that perpetual futures trading is currently limited to the Coinbase Advanced website but will soon be available on the mobile platform. The ability to launch perpetual futures trading came after Coinbase International Exchange received regulatory approval from the Bermuda Monetary Authority.
Coinbase's decision to open up access to perpetual contract trading reflects its desire to diversify its offerings and provide users with more options in the rapidly evolving world of cryptocurrencies.
Read also: Dukascopy launches a crypto lending program.
