Crypto trading platform CoinSwitch on October 3 launched crypto futures trading on its PRO platform for over 350 contracts including BTC, ETH, SOL, MATIC, XRP, and more. This is coming a few months after rival CoinDCX started its futures offering.
The new feature on CoinSwitch is targeted at select users allowing them to maximize their trading potential with leverage up to 25x. Users will be able to take long (buy) or short (sell) positions on perpetual futures contracts and can also hedge their spot holdings.
“The platform is distinguished by its competitive commission rates, ensuring users benefit with the lowest fees in the market. Additionally, new users can avail 100% commission rebate for the first 15 days,” the exchange said in a statement.
"The launch of CoinSwitch Futures aligns with our mission to provide a comprehensive suite of crypto investment and trading options to our users. By offering leveraged futures contracts, we aim to cater to the needs of sophisticated traders seeking to capitalize on price movements in the dynamic crypto market,” said Balaji Srihari, Business Head, CoinSwitch.
Last month, the company also announced specialized crypto investment services tailored for High Net-Worth Individuals (HNIs) and institutional investors; with an aim to provide customized solutions to users.
Till date, the platform has over two crore registered users and has raised $260 million in Series C funding from Coinbase Ventures and Andreessen Horowitz (a16z) in September 2021 to become India's most-valued crypto Unicorn at a valuation of $1.9 billion.
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