Coinbase, a prominent cryptocurrency exchange platform, has unveiled its latest strategic move in response to growing market demand by extending its services to eligible non-US customers. This expansion now allows traders from around the world to engage in perpetual futures trading on Coinbase Advanced, offering a comprehensive platform that caters to both highly liquid spot markets and cutting-edge derivatives.
The Decision to Meet the Demand for Crypto Futures
The surge in popularity of crypto derivatives, including perpetual futures, can be attributed to several factors. These innovative financial products empower traders with the ability to leverage their positions, thereby enhancing capital efficiency and offering access to the crypto market with a lower initial investment. Furthermore, they provide traders with the flexibility to undertake both long and short positions, equipping them with robust risk management tools for their underlying crypto assets.
Coinbase Advanced Initiates Perpetual Contracts
Coinbase Advanced initially introduces a quartet of perpetual futures contracts, covering the most notable cryptocurrencies in the market: Bitcoin, Ethereum, Litecoin, and Ripple. These contracts offer leverages of up to 5X, with Ripple’s perpetual contract providing up to 3X leverage. Notably, all perpetual futures contracts are settled in USDC, a widely trusted stablecoin. Coinbase Advanced has outlined plans to broaden its product offerings, thereby ensuring an increased array of choices for its clientele in the near future.
Distinctive Attributes of Coinbase Advanced
To facilitate an optimal trading experience, Coinbase introduces an enticing fee structure for its traders, starting with a 0% maker fee and a modest 0.03% fee for takers. Additionally, the platform is actively developing mobile trading options to enhance convenience for its users.
Coinbase Advanced distinguishes itself by seamlessly combining both spot and derivatives markets into a user-friendly interface. To provide an enriching trading experience, the platform equips traders with essential tools, including a variety of order options, the use of TradingView charts for in-depth analysis, and the availability of APIs for automated trading.
Moreover, Coinbase plans to engage in collaborative efforts with its advanced retail traders to evolve Coinbase Advanced into an all-encompassing and adaptable trading platform. The introduction of perpetual futures trading on Coinbase Advanced marks a significant stride in the world of cryptocurrency trading. The platform aims to equip advanced traders with the essential tools and security measures required for their trading endeavors, further elevating the standards of crypto trading.
