The concept of Perpetual contract trading is a state of the art that is yet to be offered by the numerous exchanges present today. Therefore, this article has articulated the best and most trusted crypto exchanges offering perpetual contract trading.
BYDFI Binance Bitmex Bybit OKX GMX What are Perpetual contracts?To understand what perpetual contracts are, we must first understand what futures contracts are, so let us get to it.
Futures contracts are agreements to trade (buy or sell) an asset at a predetermined price at a specific time in the future.
With perpetual trading, you can speculate on the future prices of cryptocurrencies. Hence, perpetual contract trading is an agreement to let you buy or sell an asset at a set price without any expiry date.
Therefore, it allows you to get rid of re-establishing long or short positions and carry on in your positions for as long as you wish to.
The missing expiration date gives rise to a price anchoring system called the funding rate mechanism in exchanges that offer perpetual contracts which balance the long and short positions by incentivizing or disincentivizing trades.
6 Best Perpetual Contract ExchangesHere are five of the best perpetual contract trading exchanges:
What is BYDFI?BYDFI is an excellent platform that aims to be a one-stop trading platform for all digital assets.
BYDFI gives you access to the crypto market via spot trading, Contracts for Differences (CFD), perpetual contract trading services, a grid trading system, and copy trading services.
VISIT BYDFI BYDFI FeaturesBinance is the most prominent and top cryptocurrency exchange, with the highest trading volume of any other exchange.
Presently, Binance gives you access to all the high cap coins and some more obscure ones such as ONT, BAT, QTUM, and IOST.
VISIT BINANCE Binance FeaturesBybit claims to be a “One-Stop Platform for all things derivatives” and started in 2018.
Bybit offers a wide range of derivatives products, including USD Margined Perpetual, Coin Margined Inverse Perpetual, copy trading, Coin Margined Inverse Futures, etc.
VISIT BYBIT Bybit FeaturesOKX is among one of the most trusted cryptocurrency platforms worldwide for buying Bitcoin (BTC), Ethereum (ETH), USDT, and many more.
Derivatives products offered by the platforms include Futures contracts, Perpetual contracts, and Options.
VISIT OKX OKX FeaturesGMX is a user-friendly exchange that provides detailed information on trading, fees, and liquidity. The platform provides precise information on its managed assets, trading volumes, fees, and trader positions. It also includes documentation and instructions on how to bridge to Avalanche or Arbitrum, as well as obtain GMX and GLP tokens.
The exchange provides a straightforward method for comprehending its mechanics. Some of the features provided by the exchange are:
In this article, we have narrowed down some of the most trusted and prominent platforms where you can practice using crypto derivatives products. Among all the platforms mentioned above, the ideal platform for perpetual contracts is BYDFI, a one-stop trading platform for all digital assets, which is simple yet powerful. Furthermore, its low trading fees and beginner-friendly nature make it one of the most preferred platforms.
Frequently Asked Questions Q. Is BitMEX legit?Yes, BitMEX is legit. BitMEX offers you several trading features with advanced data protection measures. While conducting a trade, this platform imposes multiple layers for encrypting data which is used in multi-sig withdrawals. Further, it is validated with the Two Factor Authentication (2FA) process, which makes this platform safe and reliable.
Q. Is OKX safe?So far, there have been no rumors of OKX (Previously OKX) being hacked. Furthermore, regarding safety and reliability, OKX is one of the leading platforms.
Q. How to withdraw from BYDFI?Firstly, on the top right-hand corner of your page, click on “Assets” and select withdraw. Next, enter your pin and click on confirm.
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