CoinSwitch has introduced crypto futures trading on its platform for select users. The new service enables traders to “amplify their potential” with leverage up to 25x, said the company.
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With CoinSwitch futures, users can access over 350 contracts, including BTC, ETH, SOL, MATIC, XRP, and more. Users will be able to take long (buy) or short (sell) positions on perpetual futures contracts and can also hedge their spot holdings. According to the company, the platform has competitive commission rates and the lowest fees in the market. New users can avail of 100 per cent commission rebate for the first 15 days.
Users can access futures trading through both mobile and desktop; to start they have to sign up or log in to their existing CoinSwitch PRO accounts.
“The launch of CoinSwitch Futures aligns with our mission to provide a comprehensive suite of crypto investment and trading options to our users. By offering leveraged futures contracts, we aim to cater to the needs of sophisticated traders seeking to capitalise on price movements in the dynamic crypto market,” said Balaji Srihari, business head, CoinSwitch.
CoinSwitch’s rival CoinDCX already has a futures offering service.
Last month, CoinSwitch introduced specialised cryptocurrency investment services designed for high net-worth individuals (HNIs) and institutional investors, focusing on delivering secure and tailored solutions for its users. With a user base exceeding 20 million, the platform secured $260 million in Series C funding from Coinbase Ventures and Andreessen Horowitz (a16z) in September 2021, achieving a valuation of $1.9 billion and becoming India’s highest-valued crypto unicorn.
First Published: Oct 04 2024 | 10:33 AM IST
