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Accessible through Bitfinex, Bitfinex Derivatives is a derivatives platform. Today, Bitfinex Derivatives declared that it would be launching perpetual contracts for Kyber Network Crystal v2 (KNCF0:USTF0), Stargate Finance (STGF0:USTF0), JasmyCoin (JASMYF0:USTF0). iFinex Financial Technologies Limited is the owner of the derivatives platform.
On 5th May, STGF0:USTF0, JASMYF0:USTF0, and KNCF0:USTF0 will go live at 12:PM CET.
There is upto 100x leverage for the users and will be settled in Tether tokens (USDt).
CTO at Bitfinex Derivatives, Paolo Ardoino, shared his excitement about the addition of Kyber Network Crystal v2, Stargate Finance, and JasmyCoin, to the expanding portfolio of perpetual swaps available to trade on the exchange.
Ardoino says he is anticipating great interest in these products, especially among funds and professional investors for managing risks and hedging purposes.
All activities, deposits, and users are subject to all of the terms of service as per Bitfinex rules at that time. It is also important to note that U.S. persons cannot use Bitfinex or any of its services.
About Bitfinex Derivatives
iFinex Financial Technologies Limited, which provides Bitfinex Derivatives, was launched in September 2019.
Bitfinex is a crypto exchange founded in 2012. It provides digital asset services to traders and liquidity providers around the world. In addition, the trading platform also has advanced trading features and charting tools. Moreover, it provides access to peer-to-peer funding, OTC funding, and financed trading for various digital assets.
What is Derivatives Trading?
For the uninitiated, a derivative is a financial product that derives its value from an underlying asset.
Through Derivatives Trading, traders can predict the future price of an asset by buying or selling derivative contracts to get a higher return if they buy the underlying asset outright.
Also, on Bitfinex, trading in derivatives is only available to higher-level verified and intermediate users in approved eligible jurisdictions.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
