Malta-based cryptocurrency exchange OKEx has launched a new derivative product, Perpetual Swap, a peer-to-peer, virtual derivative that allows traders to bet on digital assets such as Bitcoin.
OKEx's range of services now includes perpetual swaps, futures contracts and spot trading with margin and leverage. Perpetual swap trading will be officially available on OKEx from December 11, 2018.
A perpetual swap has a mechanism very similar to a futures contract, but there is no expiration and settlement occurs daily. Each swap contract is equal to an amount of BTC equivalent to 100 US dollars.
Users can go long in hopes of profiting from a rising market, or they can go short in hope of profiting from a falling market.
“The launch of perpetual swaps demonstrates our commitment to building a complete financial ecosystem using blockchain and cryptocurrency,” said Lennix Lai, CFO of the OKEx exchange.
With the new offering, investors and traders can select products that best suit their trading and hedging strategies.
However, we would like to remind our readers that these products are leveraged in nature and therefore risk management strategies are equally important to success.
According to hedgeweek.com
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