Leading global cryptocurrency exchange BingX has announced the launch of perpetual contract trading, offering up to 100x leverage and supporting mainstream cryptocurrencies such as Bitcoin and Ethereum. Starting from April 11, 2024, BingX users can profit from contract trading while holding cryptocurrencies.
Perpetual contracts, also known as perpetual swaps, are derivative contracts without an expiration date. Cryptocurrency traders can speculate on future price movements of assets through perpetual contracts. BingX’s coin-margined perpetual contracts settle and collateralize with the corresponding underlying cryptocurrency. This means that BingX users can flexibly use cryptocurrency assets, rather than stablecoins, as collateral. It is worth noting that all transactions settle in cryptocurrencies, providing users with diversified collateral options across different coin pairs.
The advantages of coin-margined contracts lie in the ability to directly convert profits into users’ long-term holdings of digital assets, aligning with the upward trend of cryptocurrency prices and enhancing overall asset value. The introduction of coin-margined perpetual contracts further enriches BingX’s derivatives product line, which has shown strong trading volumes since its launch.
Vivien Lin, Chief Product Officer of BingX, emphasized the importance of derivatives in improving cryptocurrency market liquidity and hedging opportunities, marking an important progress in BingX’s product development.
Vivien Lin stated:
About BingX
Established in 2018, BingX is a leading global cryptocurrency exchange, providing diversified products and services including spot trading, derivatives, copy trading, and asset management to over 10 million users worldwide, catering to the needs of beginners and professionals alike. BingX is committed to providing a trusted platform, empowering users with innovative tools and features to enhance their trading capabilities. In 2024, BingX proudly became the main partner of Chelsea Football Club, marking its first exciting appearance in the sports world.
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