KuMEX is a Singapore-based crypto exchange platform and launched last year on July 8. It is owned and controlled by the KuCoin, cryptocurrency exchange. The exchange emphasizes on derivatives trading in Bitcoin. Kumex provides its platform in two significant formats known as Lite and Pro. Pro is for more skilled investors, while the Lite version is for upcoming and new investors who are just beginning their contract trading careers. KuMEX has been advertising the Lite version as a user-friendly platform for future users all across the world.
KuMEX Lite was launched on January 8, 2020. The primary purpose behind the launch of the Lite version is to offer analytic tools like a long-short ratio and a revenue calculator. These tools will assist newcomers in the crypto futures market to forecast market trends and boost their investment policies. With the launch of KuMEX Lite, three vital simplifications have also been introduced. The first simplification is a market interface that got simplified by shifting from candlestick charts to line charts. The second simplification includes the trading interface. Users are only required to add the order amount, then make a decision on leverage and long/short for placing an order on KuMEX Lite. For each order, users just need to input the amount of money instead of the slots number. It is more user-friendly for the new traders. The third simplification includes the introduction of analytic tools. Meanwhile, the revenue calculator helps in calculating the return with various principals, strategies, and leverages.
KuMEX has made several innovations and developments in producing an unbiased trading atmosphere and bringing down the threshold for investors. Meanwhile, the Bitcoin Spot Index utilized by KuMEX can be defined as the volume-weighted average US Dollar price of BTC in six exchanges. When figures are obtained from an increased number of platforms, it will make sure that the index price on KuMEX remains fair. KuMEX also has an Insurance Fund as an Auto Deleveraging mechanism, known as ADL. The fund is entirely transparent and the balance will be revealed every day on the platform. It will make sure that investors who are compelled to shut their positions will not suffer the loss of money that surpassed their position margin. In the case of inadequate Insurance Fund, a large number of platforms now follow a Socialized Loss mechanism and the ADL approved by KuMEX. It will help in eliminating the rigidity over settlements in a Socialized Loss mechanism.
Earlier in September last year, KuMEX has begun supporting the Russian language apart from supporting English and Chinese language on its platform. The platform is likely to support some additional languages soon.
KuCoin has managed to make several achievements. It has begun to offer services to users hailing from Russia, Turkey, Vietnam, Spain, and Italy. It has also discovered several allies in Australia and Europe, who have laid a strong base for its forthcoming localization of operations.
KuCoin has presently listed approximately 180 currencies and 400 trading pairs. Through the KuCoin’s Global Titan Ambassador Program, it is able to work with leading industry professionals. KuCoin has already generated over 5 M registered users by the end of 2018. Its unique monthly visits are already ranked in the top five lists in the industry.
Therefore, we can conclude that the KuMEX exchange has emerged to be quite safe. It has got the crucial support of the KuCoin exchange. It also offers the simplified “Lite” version that is appropriate for those new to the leveraged trading of Bitcoin futures.