OKEx, the world’s largest futures cryptocurrency exchange, today announced the launch of USDT-Margined Futures. After a successful simulation beginning November 5, 2019, BTC/USDT Futures Contracts officially went live today, November 14, 2019, on the OKEx futures market.
Served as a virtual derivative product that is quoted and settled in the digital token USDT, the BTC/USDT contract has a face value of 0.0001 BTC. The available range of the leverage is 0.01-100x. Traders can long or short a position to profit from the increase or decline of a cryptocurrency’s price respectively. OKEx provides a wider derivative portfolio with a greater variety of underlying currencies and more comprehensive functionality to meet users’ trading requirements.
Key features include:
Leverage Level: 0.01-100x
Face value: 0.0001 BTC
Tick Size: 0.1
Trading Hours: 24/7
Daily Settlement: 08:00 (UTC)
Advantages of USDT Futures Contracts include:
Linear Contract - no need to hedge the margin risk of inverse contracts.
Efficiency and low cost – trade without the hassle of switching between cryptocurrencies.
Comparatively Stable – reduce the risks induced by the volatility of the collateral’s price for future contacts and simpler calculations.
Intuitive Trading Experience – similar to spot trading with the addition of leverage, it is easier for users to master the trading system.
“The simulation of our USDT Futures Contract was very successful, and we received positive feedback from traders in the OKEx community,” said Jay Hao, CEO of OKEx. “At OKEx, we’ve developed a safe, reliable, and stable environment for cryptocurrency trading, and strive to offer new services based on our customers’ interests. We’re excited to add USDT linear contract to our futures market and next on the Perpetual Swap market to meet the interests of our growing international user base.”
Other major cryptocurrencies such as EOS, ETH, LTC, BCH, XRP, ETC, TRX, and BSV on the USDT-margined futures market will soon be launched.