Coinbase launches crypto futures trading for U.S. users
Coinbase launches crypto futures trading for U.S. users
Cryptocurrency exchange Coinbase has announced that its U.S. retail users with Advanced trader status can trade leveraged digital asset futures contracts through Coinbase Financial Markets (CFM).
Futures contracts provide traders with the ability to seamlessly open long and short positions, allowing for risk management of their underlying crypto assets. In addition, futures allow traders to trade with leverage, providing access to the cryptocurrency market with a smaller initial investment.
According to Coinbase's website, traders have access to two futures contracts: BTC and ETH. These contracts, which are 1/100 Bitcoin and 1/10 Ethereum, offer lower initial capital requirements.
U.S. traders can access cryptocurrency futures contracts on the Coinbase Advanced trading platform.
The exchange notes that traders must have an existing Coinbase account for spot trading before opening a Coinbase Financial Markets futures account.
Initially, access to futures contracts will be available on the web version, but CFM is preparing to release a mobile app solution soon.
The launch of this service underscores Coinbase's commitment to expanding access to cryptocurrency derivatives trading for Coinbase clients in the United States, as Americans statistically account for approximately 75% of global cryptocurrency trading volume.
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