Coinbase has unveiled the introduction of perpetual futures trading exclusively for its international customer base on the Coinbase Advanced platform, specifically tailored for knowledgeable retail traders. Perpetual futures contracts allow traders to make speculative bets on cryptocurrency asset price fluctuations without any fixed expiration date.
As of now, Coinbase Advanced customers located outside the United States have the opportunity to engage in trading four perpetual contracts, which include bitcoin (BTC), ether (ETH), litecoin (LTC), and XRP. These contracts are resolved using USDC, a stablecoin supported by the value of the US dollar.
Customers can now leverage perpetual futures up to 5X on advanced.coinbase.com, except XRP, which offers 3X leverage. Mobile trading options will be available soon. As an introductory promotion, users will enjoy a low fee rate of 0% (maker) and 0.03% (taker).
However, Coinbase has introduced perpetual futures trading for international customers. It has secured regulatory clearance from the Bermuda Monetary Authority (BMA), a renowned digital assets regulation authority celebrated for its stringent oversight of cryptocurrency enterprises.
Coinbase Advanced: Accessing Perpetual Futures For International Traders
Moreover, In May 2023, Coinbase Exchange secured a Class F license from the BMA, providing perpetual futures to international institutions outside the United States. Coinbase emphasized its commitment to stringent compliance standards in developing endless futures products and expressed its intention to broaden the availability of derivatives through Coinbase Advanced, catering to a more extensive array of worldwide clientele.
Introducing perpetual futures on Coinbase’s aligns with a notable upswing in the worldwide cryptocurrency derivatives market. CoinGecko’s March 2023 report states that cryptocurrency derivatives constituted an astonishing 75% of the overall cryptocurrency trading volume, totaling a substantial $2.95 trillion.
Coinbase enthusiastically declared that their perpetual futures offer traders numerous benefits, including heightened capital efficiency, simplified entry into the cryptocurrency market, even with limited initial investments, and improved risk management for their underlying crypto assets.
However, Coinbase’s stated in a blog post that perpetual futures are exclusively accessible to customers outside the United States and limited to specific geographic regions. To establish a Coinbase’s Advanced trading account, customers must successfully navigate our standard assessment procedures to ascertain their eligibility for this offering.
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“The author’s views are for reference only and shall not constitute any investment advice. Please ensure you fully understand and assess the products and associated risks before purchasing.”
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