OKEx expands its perpetual swap exchange with 8 contracts that include BTC, ETH, LTC, XRP and more

Exactly one month after OKEx launched its derivative product Perpetual Exchange Contracts, the exchange announced that it will improve the service by adding the 7 new contracts that include: Cash Bitcoin (BCH), Bitcoin SV (BSV), EOS, Ethereum Classic (ETC), Ethereum (ETH), Litecoin (LTC) and XRP. Together with Bitcoin (BTC), platform users now have 8 different perpetual exchange contracts to choose from on OKEx.com and its mobile app.

What is a perpetual exchange?

A perpetual swap is similar to a traditional futures contract, but there is no maturity and payment is made daily. It is a derivative contract that attempts to create a synthetic exposition of on-site margin trading. Unlike conventional futures, user positions can be kept indefinitely.

Take advantage of OKEx

The Bitcoin perpetual swap has a notional value of $ 100 and has a leverage range of 1 to 100x. In the case of the 7 additional swaps with BCH, BSV, EOS, ETC, ETH, LTC and XRP, the nominal value of the contract is $ 10 with a leverage of 1 to 40x.

Liquidation risks

As with all cryptographic derivative products offered on exchanges, users are warned of liquidation risks. Most exchanges, including OKEx, have a forced settlement mechanism that is activated when the margin ratio of your account is lower than the maintenance margin. Forced settlement is intended to protect borrowed funds to open the commercial position.

Learn more about OKEx

Based in Malta, the exchange is a world-class exchange of digital resources that offers trading services focused on important cryptocurrencies. It also features futures trading and perpetual exchange of some of these digital assets. The exchange also offers an index tracker. At the time of writing this, OKEx has over 400 pairs of cryptocurrencies and futures. The exchange offers a secure, reliable and stable commercial ecosystem for its millions of customers from all over the world.

What do you think of OKEx expanding its perpetual exchange service to a total of 8 contracts? Let us know in the comments section below.

Disclaimer: This article is not intended to give financial advice. Any other opinion present here is purely that of the author and does not represent the opinion of Ethereum World News or one of its other writers. Perform your research before investing in one of the many cryptocurrencies available. Thank you.