Key Points:
The platform now supports perpetual contracts for Bitcoin, Litecoin, Ether, and XRP, all settled in USDC stablecoin. These contracts, accessible exclusively to non-U.S. retail customers meeting specific criteria, offer up to 5X leverage for Bitcoin, Ether, and Litecoin, while XRP contracts provide up to 3X leverage.
The move aims to tap into the derivatives market, providing traders with a seamless experience by integrating highly liquid spot markets with derivatives. Coinbase Advanced customers can employ advanced order types, TradingView charts, and APIs for automated trading, enhancing their trading strategies.
Presently, perpetual futures trading is limited to the Coinbase Advanced webpage, but the company plans to expand its services to mobile platforms soon, according to a press release. This development follows regulatory approval from the Bermuda Monetary Authority, granting Coinbase International Exchange the green light to offer perpetual futures to Coinbase Advanced customers outside the U.S.
To participate, non-U.S. retail customers must undergo standard assessment checks, ensuring eligibility and compliance. Coinbase’s move to introduce perpetual contracts reflects its commitment to diversifying its offerings and providing users with comprehensive trading options in the ever-evolving cryptocurrency landscape.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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