VILNIUS, Lithuania, April 11, 2024 BingX, a leading cryptocurrency exchange, is thrilled to introduce coin-margined perpetual futures trading for major cryptocurrencies such as Bitcoin and Ethereum, offering leverage of up to 100x. Commencing on April 11th, 2024, BingX users will have the opportunity to hold cryptos while capturing exceptional profits through futures trading.
Perpetual futures, also known as perpetual swaps, are derivative contracts that enable crypto traders to speculate on the future price of assets without a set expiration date. Coin-margined perpetual futures, a variant of crypto futures settled and collateralized in their respective base cryptocurrencies, provide BingX users the flexibility to utilize their crypto assets as collateral rather than stablecoins. Notably, all transactions within this framework are settled in cryptocurrency, allowing for diverse collateral options across different trading pairs.
Coin-margined futures offer advantages of direct conversion of profits into users' long-term digital asset holdings, aligning with the upward trajectory of digital currency prices to enhance overall net asset value. This addition of coin-based perpetual futures further enriches BingX's suite of derivative offerings, which have consistently demonstrated robust trading volumes since their inception.
Vivien Lin, Chief Product Officer at BingX, highlighted the significance of derivatives in improving liquidity and hedging opportunities in the cryptocurrency market, marking a significant development in its evolution. Lin stated, "As the crypto market continues to mature, we recognize the importance of offering innovative products to meet the evolving needs of our users. By introducing coin-margined perpetual futures, we aim to empower our users to manage their crypto exposures more effectively, hedge against risks, and optimize capital and operational efficiencies."
About BingX
Founded in 2018, BingX is a leading crypto exchange, serving over 10 million users worldwide. BingX offers diversified products and services, including spot, derivatives, copy trading, and asset management – all designed for the evolving needs of users, from beginners to professionals. BingX is committed to providing a trustworthy platform that empowers users with innovative tools and features to elevate their trading proficiency. In 2024, BingX proudly became Chelsea FC's principal partner, marking an exciting debut in the world of sports.
For more information please visit: https://bingx.com/
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SOURCE BingX
