Things are looking pretty volatile in crypto right now — and as the bear market sets in, spot trading volumes are looking pretty sluggish.
But with the industry maturing in recent years, futures trading has become increasingly available — and figures suggest demand has remained strong despite the current downturn.
Through futures contracts, crypto enthusiasts can enter into positions when they believe prices are going to fall further — a compelling alternative for those who fear HODLing will cause the value of their savings to fall.
But according to CoinEx, such crypto derivatives are often inaccessible for everyday consumers — not least because the offerings on many exchanges are geared toward professional investors.
Websites providing crypto futures can be complex and difficult to navigate, meaning there's a greater risk of costly mistakes being made. And a lack of tutorials and instructions for newcomers can also lead to misconceptions about how things work.
CoinEx says it's attempting to change all of this — driven by a mantra of "making crypto trading easier."
The trading platform is on a mission to make complex products easy to use — with comprehensive and simple tutorials that demystify crypto futures. Video guides and illustrated instructions are available, and an intuitively designed website reduces clutter and focuses on delivering a first-class user experience. A customer support team is also on hand to answer any questions that remain.
CoinEx's team told Cointelegraph: "With crypto prices falling, spot trading has lost its momentum, and the futures market has become an area of intense competition among the major exchanges. CoinEx has taken a different approach. By offering easy yet efficient futures services, we've attracted a large number of emerging crypto investors."
A global presence
Figures from CoinEx suggest this customer-friendly approach is paying off — not only is its website available in 16 languages, but the company has now amassed three million users in more than 200 countries worldwide.
The platform says the rates it changes on trades are "market-beating" — and beyond detailed position information to help users keep track of their strategies, a 180-day profit-and-loss analysis is also available for each account.
Giving customers plenty of choice also matters. According to CoinEx, its platform supports a large selection of futures trading pairs, with more than 100 kinds of futures now available. The trading platform says it has listed a "premium, well-rounded selection" of digital assets — and new coins are continually being added. Because of this, the company says it ranks among the top exchanges in terms of the number of cryptocurrencies it supports.
CoinEx has now been in operation for more than five years — and the exchange says it has never suffered a security breach over this timeframe, giving customers peace of mind following a number of high-profile hacks elsewhere in the sector.
Making crypto less daunting
CoinEx's founder and CEO, Haipo Yang, explained in a recent Q&A that cryptocurrencies are now an "integral part" of global assets — but while many consumers have been curious to learn more about how they work, there's often a misconception that the market is dominated by "geeks and professional investors."
He's been driven by offering an exchange that's designed for the general public — and argues that everyone deserves access to the industry.
"We work to remove users' misgivings about the crypto industry and break financial shackles," the CEO said. "We want to deliver a message that crypto trading is a level playing field and that finance is by no means the privilege of certain groups of people."
Catering to the masses is set to play a key role in CoinEx's future, with the team vowing to continue innovating so crypto derivatives are open to all.
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