Posted 10 months ago | by Ben Armstrong
KuMEX Will Become KuCoin Futures – Will Launch ETH Contracts
The crypto futures trading platform backed by the cryptocurrency exchange giant IDG, previously named KuMEX, has announced that it will be rebranded as KuCoin Futures effective from June 3, 2020.
Additionally, the platform will launch an Ethereum perpetual contract with 100x leverage.
After the rebranding, KuCoin Futures will be available on KuMex’s new official website, futures.kucoin.com, meanwhile, the existing KuMEX communities and social media channels will be also changed the name to follow the new brand name.
KuCoin Futures is Here!
According to the announcement, the original domain name kumex.com will be supported for more another six months before the rebrand is finished, and all futures trading operations will be transferred to to KuCoin Futures.
The platform confirmed that there will not have any changes in the trading experience, and existing users can trade as normally without registering all over again.
From July 2019, the KuCoin Futures platform has been supporting perpetual and quarterly contracts on Bitcoin. The platform is unique from many others as it features a Level 3 data push mechanism, which works to create a fair trading environment.
Trading futures on a margin can be very profitable, but anytime leverage is used, the risk of losses rises. Be sure that you understand how margin trading works before you begin to trade futures.
Rising Volumes and Bigger Investors
KuCoin Futures has seen a top volume of over $200 million USD, and the platform expects to grow further. The new Ethereum perpetual contracts have a low margin maintenance rate of 0.5%, depending on the size of the transactions.
The platform is focusing on launching BCH, EOS, and other futures contracts, among other new features, such as Cross Collateral, high-frequency trading, dynamic diversions, and big data risk controls.
Many of these new additions are likely to come at a later stage as the entire rebranding process is done. More features are likely to attract more people, although more exchanges are entering the crypto derivatives marketplace all the time.
There will be more promotional activities coming as well, such as an affiliate program, trial fund, new VIP fee structure, and more. This rebranding could be a significant point for KuCoin Futures, and help the company to expand its client base and volume further.
Futures can also be used to offset marketplace volatility, and this could be a big selling point for crypto derivatives platforms going forward. As more advanced investors enter the crypto space, the demand for hedges is likely to rise.