Derivatives are one of the fastest-growing crypto markets, with futures volume vastly outstripping the spot. Once the preserve of pro traders only, derivatives exchanges have lowered the barriers to entry, making it easier for novice traders to gain exposure to futures products.
Derivatives are one of the fastest-growing crypto markets, with futures volume vastly outstripping the spot. Once the preserve of pro traders only, derivatives exchanges have lowered the barriers to entry, making it easier for novice traders to gain exposure to futures products. The best of this new breed of exchanges balances offering high leveraged products with ensuring that traders understand the underlying workings of the market and the risks involved. Here are four of the best new derivatives exchanges to look out for in 2021.
Although not available to US residents and other select countries due to regulatory restrictions, StormGain is working to establish itself as one of the top crypto derivatives exchanges. StormGain supports the purchase of cryptocurrencies with fiat currency and offers a wide range of products and solutions on top of a zero-commission trading platform. Users can access financial products beyond the trading of standard cryptocurrency derivatives, such as leveraged tokens.
StormGain is focused on becoming an all-in-one crypto platform, also offering wallet services, mining services, educational material, interest-generating deposit accounts, a loyalty program, and more. With over $1.28 billion in weekly volume, StormGain has carved out a corner of the derivatives market.
Bingbon has grown from humble beginnings to become a mainstay of the derivatives market thanks to its intuitive platform, variety of trading pairs, easy access to funds, and local adoption. One really neat feature not available on most derivatives exchanges, which attracts many newcomers, is the ‘copy trade’ option. Using this method, any Bingbon user can follow a proficient trader on the platform, copying their trades to mimic their trading strategy and realize maximum profits. With the top copy traders available to follow on the platform generating well over one hundred percent in yearly returns, its no surprise that Bingbon is seeing such rapid adoption.
Bingbon is now expanding into new global markets. The exchange has already grown a substantial user base in new and emerging markets like Latin America and Turkey and plans to continue to capitalize on markets that its competitors are overlooking. On Bingbon, you can buy cryptocurrency with fiat, trade derivatives and contracts underlined with various assets, follow some of the most successful traders in the market, and safely store your crypto, just a few factors aiding the exchanges accelerated growth.
Phemex has already begun to solidify itself as a prominent crypto derivatives exchange, but it still has a lot of room to grow. Phemex serves a global audience, offering spot and margin trading to its user base across a variety of cryptocurrency assets. The exchange is highly accessible, available via desktop or mobile, and incentivizes new users with large giveaways. Phemex is currently offering a one million dogecoin giveaway for new users, trading bonuses of up to $600 for new deposits, and a separate giveaway where you can win a PS5 and up to $500 for opening a Phemex savings account.
Phemex offers its users high performance and advanced platform functionalities, with a trading engine that can execute over 300,000 trade orders per second. With 24/7 live and multilingual customer support, Phemex offers a welcoming environment to beginners and intermediate traders
The last promising derivatives exchange to consider is CoinTiger, another one-stop-shop looking to provide its users with value throughout the entire cryptocurrency investing lifecycle. Like most of the exchanges mentioned, CoinTiger offers spot trading, leveraged trading, futures, and a fiat onramp within a robust and user-friendly platform.
One USP for CoinTiger is its Tiger Bank, a crypto asset investment product based on the exchange. This gives platform users access to fixed income products like ‘Monthly Yield Growth’ and ‘Fixed Rate’ options, delivering more opportunities traditionally only available through legacy financial institutions. These flexible products empower users who are largely excluded from traditional financial services, allowing for the opportunity for anyone to grow and preserve their wealth.
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