Recently, HitBTC added perpetual futures, a new cryptocurrency trading tool, to its web-based exchange. In just a few months, the demand for futures trade grew exponentially, proving a valuable addition to our product line. Now, we’re releasing this functionality in our iOS and Android apps to make your trading experience is even more convenient.
We believe that this product will be in great demand among seasoned traders and those starting their crypto journey. Futures trading allows users to manage risks and balance price fluctuations when used alongside traditional trading strategies. And since we’ve added the tool into the HitBTC mobile app, it will stay within your reach 24/7.
Perpetual Futures: The Basics
Perpetual futures are an exchange tool that enable its users to buy and sell assets on a specific date in the future at a particular price. Once the date comes, the user must close the contract at the asset’s current price, regardless of the initial prediction.
If you calculate and execute your futures contract properly, you can collect profits that are paid out every 8 hours.
Perpetual futures can serve as an independent strategy for gaining profit and also be used alongside margin and spot trading techniques. They are an excellent tool for risk management as they allow users to get additional hedges when market movements are not in one’s favor. Besides, futures enable traders to go over their balance using high leverage amounts of up to x100.
Finally, futures allow traders to open positions for assets they do not actually have. Suppose the BTC price starts falling, but you currently do not own any BTC. In this case, you can open a short position using perpetual futures.
Keep in mind that even if you don’t physically own any assets, futures are still linked to them, and their performance depends on the state of the market. Nevertheless, when used rationally, perpetual tools can help level up your trading strategy.
Perpetual Futures onin the HitBTC App
By adding futures to our app functionality, we aimed to create a universally accessible platform for any type of trade, be it spot, margin, or futures. Not to mention that having uninterrupted and quick access to one’s portfolio definitely puts their mind to ease.
Currently, HitBTC offers 22 pairs available for perpetual futures trading, and we’re constantly updating our asset availability, depending on popular demand.
To start trading futures in the app, choose the Futures tab on the right side of the trade screen, pick a contract, and transfer the necessary amount of USDT from the Spot to the Derivatives account. Then, you’ll need to add USDT Margin, set the leverage, and place your order. You can check your orders and position on the Orders screen.
Should you need more information on how to trade futures in our app, check out this detailed guide.
Read more about perpetual futures:
All You Need to Know About Perpetual Crypto Futures
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This article came directly from HitBTC, at https://blog.hitbtc.com/futures-trading-is-now-live-on-the-hitbtc-app/