Place/Date: Hong Kong - June 13th, 2022 at 10:18 am UTC · 2 min read
Contact: Liubov Perlyna, Source: WhiteBIT
The largest European cryptocurrency exchange has launched cryptocurrency futures trading. Registered users have the opportunity to conclude futures contracts for bitcoin.
Futures contracts guarantee that the buyer will purchase the specified amount of assets at a specific time and at a pre-agreed price. Cryptocurrency futures also make it possible to trade virtual assets without owning them and profit from the difference between the fixed and the future price.
Perpetual futures contracts do not have an expiry date. The funding mechanism is used to correlate the price of the contract on the market: based on the exchange rates, funding takes place on a regular basis every eight hours.
Only users with open positions participate in the funding. The ratio is calculated depending on the number of owners of short and long positions.
Another important update is that the exchange is proving a single collateral balance to secure margin and futures positions.
Cryptocurrency futures trading is suitable for experienced traders. Still, WhiteBIT has simplified this process as much as possible so that the tool is available even to users who have started in crypto recently. WhiteBIT CEO Volodymyr Nosov notes:
“Cryptocurrency futures appeared in 2017 and have gradually become one of the most attractive trading instruments. WhiteBIT grew with our users discovering new cryptocurrency trading opportunities and gaining experience. We always listen to our community and want to develop our product together. It is now possible to gain experience with cryptocurrency futures on our exchange. It is a tool designed for both profit and risk hedging.“
WhiteBIT is a centralized cryptocurrency exchange with a team of 400+ professionals. Besides 250+ cryptocurrencies, the platform also supports national currencies. The company’s main goal is to achieve mass adoption of blockchain technology and expand the cryptocurrency community by providing a secure and easy-to-use platform.
WhiteBIT is the largest European cryptocurrency exchange, which is a leader in Ukraine, meets all KYC and AML requirements, and is used by over 2 million customers.
Today, WhiteBIT is one of the top 2 most secure exchanges in the world based on an independent Hacken audit and has an AAA rating.
Thanks to advanced technologies, WhiteBIT guarantees fast balance replenishment and funds withdrawal. You can replenish your balance and withdraw funds using Visa and Mastercard, as well as partner payment systems. At the same time, the fee is not charged for replenishing the balance from the monobank card.