Global leading cryptocurrency exchange BingX has announced the launch of coin-margined 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 contract, also known as perpetual swap, is a derivative contract without an expiration date. Cryptocurrency traders can speculate on the future price movements of assets through perpetual contracts. Coin-margined perpetual contracts settle and collateralize with the corresponding underlying cryptocurrencies, allowing BingX users to use cryptocurrency assets instead of stablecoins as collateral flexibly. It is worth noting that all trades are settled in cryptocurrencies, providing users with diversified collateral options for different trading pairs.
The advantage of coin-margined contracts lies in directly converting profits into users’ long-term holdings of digital assets, aligning with the upward trend of digital currency prices, thus enhancing overall asset value. The introduction of coin-margined perpetual contracts further enriches BingX’s derivative product line, which has demonstrated strong trading volumes since its launch.
Vivien Lin, Chief Product Officer of BingX, emphasized the importance of derivatives in improving liquidity and hedging opportunities in the cryptocurrency market, marking an important development in BingX’s product offerings.
Vivien Lin stated:
About BingX
Founded in 2018, BingX is a global leading 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 official partner of Chelsea Football Club, marking its first exciting appearance in the sports world.
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