BitMEX Announces Two New Crypto-Trading Products: ETHUSD Perpetual Swaps & UPs and DOWNs
Earlier this week, BitMEX broke their own record trading over 1,027,214.62 Bitcoins in a day. On the same day, the platform also announced two new crypto-trading products:
ETHUSD perpetual swaps, and UPs and DOWNs
ETHUSD Perpetual Swaps: Following the success of their XBTUSD perpetual swaps, BitMEX has decided to launch a similar kind of an offering for Ethereum as well. Following the launch of this, users can now trade ETHUSD price at up to 50x leverage. Moreover, settlement issues can now be easily avoided as well.
UPs and DOWNs: Following the introduction of this new product on BitMEX, users can now make use of the call and put options. UPs and DOWNs basically stands for Upside profits contracts and Downside profits contracts. These are some features that ‘traditionalists’ would be more familiar to. Upside profit contracts allow users to purchase cryptos at a particular price-point and hold them for a predetermined time limit. Downside profit contracts allow the users to sell these cryptocurrencies at a particular price.
About BitMEX: BitMex is a Peer-to-Peer Trading Platform that offers leveraged contracts that are bought and sold in Bitcoin. BitMEX offers perpetual contracts on bitcoin futures and swaps and also many different fixed-date expiries. The highest leverage BitMEX offers is up to 100x leverage.
About the writer: Ava Lauren
As an expert on cryptocurrency related topics, I've found myself working as a Journalist at TheCryptoCoinCenter.com. I write articles related to bitcoin and other cryptocurrencies. Email me