Last month, CoinFLEX was reported to be launching futures contracts to its Asian clients in February 2019. The new contracts for Bitcoin, Bitcoin Cash and Ethereum will provide possible leverage of up to 20 times.
The new product has now gone live, as CoinFLEX launched its physically delivered cryptocurrency futures exchange. The platform is based in Hong Kong, and represents a spin-off of another exchange, Coinfloor, which is one of the earliest UK crypto exchanges.
The leverage that CoinFLEX offers to its clients is 20x. The company announced that the product has gone live on 20th of February. As reported by Leaprate, CoinFLEX is owned by a consortium including crypto star Roger Ver and Trading Technologies International Inc. CoinFLEX was started in 2018 as CoinfloorEX, then a unit of the UK Bitcoin exchange Coinfloor.
The Head of CoinFLEX platform, Mark Lamb, explained his enthusiasm for the project stating the advantage of crypto futures versus traditional futures exchanges: there is no middle-man in the former.
CoinFLEX is actually the world’s first physically delivered crypto exchange. The physical delivery means that there is no risk of cash price settlement risk. The taker fee is 0.03%, and 99% multi-signature cold storage.
The registration takes less than 2 minutes, as promoted by the website of the company. In addition, users will be able to take advantage of the algorithmic trading functionality of the platform, as well as the professional, customizable workspace.