On November 14, 2019, the leading crypto exchange company, OKEx, declared the launch of USDT-margined futures. The simulation was started on November 5, 2019, and after getting its successful results, USDT/BTC Futures Contracts went officially live on the market of OKEx.
According to the announcement, the BTC/USDT contract served as a virtual derivative product and will be paid in the digital token with the face value of 0.0001 BTC. The available leverage range is 0.01-100x. The investors and traders can earn profit from the increasing and decreasing price of the cryptocurrency. OKEx deals with a variety of cryptocurrencies and provides its comprehensive functionality to fulfill the trading needs of the user.
There are certain features of USDT-margined futures contracts:
- The leverage level will be 0.01-100x.
- The face value of the USDT/BTC contract will be 0.0001 BTC.
- The Tice size will be 0.1.
- A trader can trade for 24/7 hours, which means a whole day.
- The daily settlement will be at 08:00 (UTC).
There are many benefits of USDT/BTC Futures Contracts:
- Linear Contract: The contract will be linear so that there is no margin risk of inverse contracts.
- Low Cost and Efficiency: A trader can trade without any exchange between the digital currencies.
- Stable: The USDT futures contracts are comparatively stable and minimize the risks obtained by the price of collateral for future contracts and more straightforward calculations.
- Trading Experience: This is the same as spot trading with leverage to help the user to become an expert in the trading system.
The CEO of OKEx, Jay Hao, said that the simulation of USDT futures contracts is successful, and they are getting positive feedback from the users in their community. The Malta-based digital asset exchange, OKEx, is providing a safe, reliable, and stable platform and services for trading in digital currencies to the traders. Other cryptocurrencies like EOS, BCH, LTC, ETH, ETC, TRX, and BSV will soon launch on the USDT-margined futures contracts market.