Phemex is delighted to announce a new range of seven perpetual contracts on its fast-growing cryptocurrency and derivatives exchange. The new contracts offer exposure to various decentralized finance (DeFi) and staking tokens, offering Phemex traders access to this highly popular market.
With immediate effect, the following seven contracts will be available for traders on Phemex:
- ADA/USD
- ALGO/USD
- COMP/USD
- DOT/USD
- LEND/USD
- YFI/USD
- BCH/USD
Launching these contracts is an important step for Phemex, as it provides users of the exchange with exposure to the rapidly-expanding and volatile DeFi markets. Furthermore, staking tokens, including ADA, ALGO, and DOT, are also proving highly popular in 2020 as they offer staking rewards. Gaining exposure to these markets creates further opportunities for traders on Phemex.
Jack Tao, CEO at Phemex states of the new contracts: “These DeFi perpetual contracts are easy to buy and sell, providing our users an excellent opportunity to profit from this new and exciting space.”
The entire new range consists of linear contracts; all quoted and settled in USD to make profit and loss calculations simple even for new traders. Each contract can be traded with up to 20x leverage.
This launch doubles the number of contracts available on Phemex to a total of fourteen markets. The company also offers a GOLD/USD contract – its first non-cryptocurrency asset providing users with exposure to the current price volatility on the gold commodity markets. This complements its other range of contracts in BTC, ETH, and other major altcoins.
Phemex traders who participate in the company’s premium membership program can also benefit from zero-fee trading on the exchange’s spot markets. The exchange has been working hard to expand its offering into a range of altcoins with recent pairs, including EOS, NEO, and XTZ.
Phemex also recently became the first cryptocurrency exchange to pioneer conditional bracket orders that allow traders to define both Stop Loss and Take Profit instructions for individual limit orders. This feature empowers traders with a degree of automation to risk management while ensuring that they can capture gains in a timely way. Both are critical in the volatile cryptocurrency markets.
All of these innovations have come as part of Phemex’s rapid growth since it launched less than a year ago. The company has outlined its commitment to developing cutting-edge exchange features with a user-first approach. Ultimately, Phemex is striving to achieve its vision of becoming a leading quality financial service provider based on the values of trustworthiness, honesty, and integrity.
About Phemex
Launched only in November of 2019, Phemex is already within the top 10 derivatives exchanges, according to coinmarketcap.com. The exchange offers perpetual contracts for many popular cryptocurrencies with up to 100x leverage. It is also one of the few to provide a non-crypto GOLD/USD contract. In March of this year, Phemex also began offering zero-fee spot trading services. With premium memberships costing as low as $5.80 a month, users can spot trade a variety of cryptos without being subjected to the standard 0.1-0.5 % trading fees that most of their competitors charge.
To learn more, visit Phemex.com