NEW YORK, NY / ACCESSWIRE / July 2, 2019 / BitForex unveils the launch of their new perpetual contract simulation program following a string of critical success in Korea, which includes BitForex CEO Garrett Jin’s appearance alongside South Korean Prime Minister Lee Nak-yeon at the K.E.Y Platform summit 2019 in Seoul.
BitForex places itself ahead of the curve by announcing a new perpetual trading derivatives program, set to launch soon. Users will be able to participate in a testing phase using virtual BTC and real market data to try out the system before its official launch in early July.
In addition to using real-market data with virtual coins to create a no-risk environment for traders to gain experience, BitForex has organized an impressive 15,000 USDT prize pool to entice participants with the thrill of competing on leaderboards for real-world prizes.
A perpetual contract is a futures contract that does not make a final delivery and is a financial derivative. From a trading perspective, it is similar to a traditional futures contract. For the digital asset investment market, it is a suitable product for mass-market crypto traders, and conforms to the concept of decentralization of blockchain assets.
In 2016, BitMex first officially proposed their concept for perpetual contracts in crypto, and launched their BTC sustainability contract soon after. Since this, the transaction volume of perpetual contracts has been on the rise. Even in a market with poor overall volume, BitMex’s perpetual contract has maintained a steady growth trend.
In 2018, OKEx started offering similar services on BTC and ETH. Currently, BitMex and OKEx are the two largest companies in the cryptocurrency exchange industry – no other cryptocurrency exchanges had followed suit until BitForex.
With its large Asian and South-East Asian userbase, BitForex’s token liquidity puts it in a unique position to bring a new service to users who may not have had access to it previously, effectively cornering a sector of the market.
BitForex is inviting all users to register for the trial, which will see all participants granted 10 virtual BTC for testing the system with (or aggressively compete on the leaderboards) – a risk-free way for users to get comfortable with a new system.
“We are doing our best to make this as accessible to all traders as we can. Cryptocurrency trading can seem daunting at first, so the test phase represents not only an opportunity for us to work out any potential kinks in the system before the official launch, but also serves as a chance for users to try their hand at perpetual contracts without the fear of losing their tokens due to inexperience. As an extra bonus, we’re putting up 15,000 USDT in prizes to make things a little more interesting for our users” – Garrett Jin, BitForex CEO & Founder.
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BitForex is a global Top 10 cryptocurrency exchange dedicated to providing 3+ million users with safe, professional, and convenient digital currency trading services. BitForex is leading the trend of the cryptocurrency exchange industry by effectively providing a wide range of trading tools including token trading, margin trading, and derivatives – constantly adapting to new market needs with the continuous introduction of new features. BitForex is Headquartered in Hong Kong, and operational teams in South Korea, Singapore, the U.S., and more.
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