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encrypted currency trading KuCoin launches Bitcoin derivatives platform

2019-07-08 03:30 pm | Resource: News Section | No Views : 104

encrypted currency trading KuCoin launches Bitcoin derivatives platform encrypted currency trading (KuCoin), the platform for Bitcoin (BTC) derivatives trading, was announced Monday (July 8th).
The KuCoin digital currency exchange, supported by IDG, indicated that the new platform is now in a general beta phase, indicating that it will initially provide a permanent contract for Bitoin (XBTUSDM), quoted in US dollars, with a leverage of up to 20 times.
KuCoin aims to make pricing "more equitable". KuMEX uses a Bitcoin indicator that provides a weighted average price for Bitcoin in US dollars across six exchanges: Coinbase Pro, Bitstamp, Kraken, Liquid and Bittrex.
The index also said that the immediate index also avoids the liquidation of the contract "due to low liquidity in the trading platform or large price fluctuations in the stock market or two immediate."
KuMEX offers some risk protection through an insurance fund that says it is "fully transparent", with balance being detected on the platform every day.
"This fund ensures that investors who are forced to close their positions will not lose money beyond the margin of their position," according to the statement.
If the insurance fund is not enough to cover losses, KuMEX also has an "automatic lift cancellation" system, and is said to be less "flexible" than through more standard social loss mechanisms.
To encourage new retail investors to engage in digital currency derivatives, KuMEX offers a lower investment threshold than that of some other service providers.
Bourse clarified trading trading in its statement:
"The value of the XBTUSDM contract is US $ 1, allowing traders to make a more flexible investment while at the same time, KuMEX offers a negative fee for machine makers at -0.025% with a certain amount of fixed commission, encouraging users to provide liquidity to the platform by making the market and earning Some commissions as an incentive. "
Michael Jean, CEO of KuCoin said:
"Compared to the spot market, derivatives are more risky because of leverage, so we are more cautious in providing such services." KuMEX is a derivative trading platform developed independently by our team. From the beginning, we have developed it as an original and advanced financial product, For all users to trust and freely circulate in the Statute, without concern about the loss resulting from any form of manipulation. "

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