KuCoin, one of the leading cryptocurrency exchange and trading platform has announced an improvement to its Bitcoin Perpetual Contract by increasing the maximum available leverage. In a recent announcement, the platform confirmed that users on its KuMEX (KuCoin Mercantile Exchange) platform can now avail maximum leverage of 100x, which is five times the earlier 20x leverage cap set for BTC Perpetual Contract.
In order to take part in the Perpetual Contract offering, users will have to be registered on the KuMEX platform and complete the KYC verification process. Those who have successfully completed the steps can then select leverage levels ranging from 0.01x to 100x. Explaining the reasoning behind the increased leverage option, the CEO of KuCoin Michael Gan said,
“We have recently started seeing emerging needs within Bitcoin futures trading from both retail traders and institutional investors. Our futures trading platform KuMEX has proved its stability and security over the last few months, and so we are happy to introduce the 100x leverage feature, which will help our users develop a more tangible trading strategy.”
KuCoin is now eyeing for a global expansion of its KuMEX platform which was developed in house and launched on July 8, 2019. The futures platform is now available in 9 different languages including English, Chinese, Russian, Vietnamese, Turkish, German, French, Korean and Dutch. As a part of the company’s wider reach strategy, KuMEX will be extending support for additional languages soon.
The homegrown KuMEX platform is designed for better risk management and in order to shield the contracts from liquidation due to sudden price fluctuations on any one or two exchanges, it implements a volume-weighted average US dollar price of Bitcoin across six different exchanges as Bitcoin Spot Index price. Some of these six exchanges includes the likes of Coinbase Pro, Bitstamp and Kraken. It also provides additional features like a self-operated Insurance Fund and an Auto-Deleveraging (ADL) mechanism to safeguard the interests of KuCoin’s trading community as they operate perpetual contracts on KuMEX platform.
KuCoin is committed to constantly innovate and offer the best features to its users, and the company expects to introduce more trading options in the near future.