Huobi Exchange Launches Cryptocurrency Derivatives Platform
Huobi Global this Wednesday announced the launch of a new cryptocurrency derivatives platform Huobi Derivative Market (Huobi DM) in beta access.
“Huobi DM represents a kind of digital currency pegged derivatives. Users can benefit from the rising / falling prices of digital currencies by entering long and short positions as they see fit, the company writes. – Huobi DM contracts are settled according to the spread indicator. At the end of the contract, all open positions will be closed and calculated based on the index arithmetic average price for the last hour “.
The first derivative of the new platform was a Bitcoin contract, denominated in US dollars and backed by users’ bitcoins. Settlements under the contract are also carried out in bitcoins.
The face value of one contract is $ 100. Huobi DM platform currently features weekly, bi-weekly and quarterly bitcoin contracts.
For trading, users are encouraged to use 5x, 10x and 20x leverage. There is also the possibility of trading without leverage. Please note that once the leverage is selected, it applies to all derivatives, whether it be a weekly, bi-weekly or quarterly contract. As long as the user has open positions, he cannot change the leverage..
The company also draws attention to the fact that in connection with the launch of a new platform, fraudsters have become active on the network who collect user information outside of Huobi’s main communication channels..
Earlier it was reported that Huobi opened a committee to contact the Chinese Communist Party.
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