Renowned cryptocurrency trading platform, Nexo exchange, revealed it has launched a user-friendly Futures trading service, according to a blog post released earlier today.
Introducing Futures trading on the Nexo app. Now you have the option to: ? Go long or short on 70+ assets ✅ Utilize up to 50x leverage ? Gain exposure to the hottest assets * The Futures functionality is restricted for certain jurisdictions, including the U.K. pic.twitter.com/yzFtpWkGrR— Nexo (@Nexo) November 14, 2023
The development comes as part of the exchange's keen efforts to curtail financial ignorance and encourage new users to explore derivatives trading.
Nexo's New Futures Trading Targets Enthusiasts
While the company has revealed its mission to broaden financial literacy and inclusion in the cryptocurrency space, it appears that this move is majorly targeted at enthusiasts who are new to crypto trading to enable them stay woke and updated on latest trends within the Futures trading space.
Marking an addition to its list of exciting features, Nexo's newly released Futures trading has been designed to provide crypto enthusiasts looking to venture into the world of Futures with a seamless trading experience.
Nexo's Futures trading features a friendly user interface, hence it will help users with little or no experience within the spot market to easily navigate their ways around derivatives, thereby making the space accessible and educational for them.
As such, crypto enthusiasts can exclusively enjoy the lucrative potentials of futures trading including the opportunity to maximize capital efficiency and also hedge against spot price fluctuations in any direction as it enables them to leverage versatile hedging strategies.
Here are the features of the Nexo Futures exchange:Up to 50x leverage Comparable fees to other exchanges Go long or short on over 70 coins
Nexo Exchange's Futures Trading and Its Exciting Features
This new development has seen Nexo smoothly combine seamless futures trading features with its existing financial services, allowing easy trading, earning, and borrowing.
Following its design, Nexo's Futures Trading comes with exciting and unique features to make the experience convenient for users. It is important to note that the newly added feature does not only provide users with an easy-to-use UI, it also allows them to save costs with its low transaction fees.
Furthermore, it offers perpetual contracts, and settlement in USDT, and is managed through a specialized Futures Wallet. This wallet differs from other Nexo wallets and exposes new users to a variety of assets, from the blue chips to the most trending ones. Notably, this feature allows users to use their USDT as collateral with up to 50x leverage thereby broadening their trading capacity.
Nexo understands that diving into futures trading is pretty complicated and is often embraced by crypto veterans who are well-versed in complex trading features. The platform has incorporated these exciting features into its new Futures offering to attract newcomers into joining the space.
To prepare users ahead for what they are about to experience, Nexo revealed it has added educational content including interactive stories and quizzes to Futures trading interface. With this feature, users can only fund their Futures wallet with USDT and proceed to trading futures on the platform after they have passed a quiz. This will give them a brief clue on what they are about to experience.