KuMEX, the futures platform by KuCoin as one of the leading crypto exchanges and trading platforms, announced a massive improvement to its Bitcoin Perpetual Contract by increasing the maximum leverage available as we are reading more today in the blockchain latest news today.
The platform confirmed on its KuMEX mercantile exchange platform that will avail maximum leverage of 100x which is five times more from the previous 20x leverage cap set for BTC perpetual contract. In order to participate in the Perpetual Contract offering, all of the users will now have to register on the KuMEX platform and complete the KYC verification process. Each user that will have completed the steps successfully can then select the leverage levels that range from 0.01 to 100x. The reason behind this idea was explained by the CEO of KuCoin Michael Gan:
“We have recently started seeing emerging needs within Bitcoin futures trading from both retail traders and institutional investors. Our futures trading platform KuMEX has proved its stability and security over the last few months, and so we are happy to introduce the 100x leverage feature, which will help our users develop a more tangible trading strategy.”
KuCoin now eyes a bigger, global expansion of its KuMEX platform which was initially developed in house and launched on July 8, 2019. The futures platform is available in nine different languages including, Russian, Chinese, English, Turkish, German, Vietnamese, French, Dutch and Korean. As a part of the expansion strategy of the exchange, KuMEX will be extending support for more languages in the near future.
The KuMEX platform is designed to provide better risk management and to shield all of the contracts from liquidation because of the sudden price fluctuations that can happen on one or two exchanges since it implements a volume-weighted average US dollar price of Bitcoin across six major exchanges. Some of these exchanges include Coinbase Pro, Kraken, and Bitstamp. It will also provide more features such as the self-operated insurance fund and the auto-deleveraging (ADL) mechanism that will protect the interests of KuCoin’s trading community since they operate perpetual contracts on the platform. KuCoin believes in constant innovation and offering the best features for its users so they even expect to introduce more trading options in the near future.
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