BaseFEX crypto futures
Not only among consumers, but also among investors, the BaseFEX cryptocurrency derivatives trading platform, an exchange for trading futures, has acquired traction.
BaseFEX is a Bitcoin, Ethereum, Ripple, Bitcoin Cash, Litecoin, Binance Coin, BTC, or USDT derivatives trading platform. Founded in 2018, the company now serves consumers from all around the world, with the exception of the United States, Canada, and nations where cryptocurrencies are illegal. The fundamental ideas are accountability for user data confidentiality, increased security, and innovation.
BaseFEX derivatives trading platform does not require KYC/AML verification from users and promises not to disclose their data to authorities and government agencies. Each trader receives individual support through a 24/7 chat room. You can view the commission structure at any time, which is completely transparent.
Features and capabilities of BaseFEX cryptocurrency derivatives trading:
- BTC, ETH, LTC, XRP, BCH, and BNB cryptocurrency contracts can be traded on margin with leverage up to 1:100;
- High level of protection. The only crypto exchange to receive an A+ in Mozilla's Observatory test is BaseFEX (a test to assess the security and reliability of sites conducted by Mozilla). Other futures exchanges have a lower level of safety;
- There are no hidden fees;
- There are no deposit costs;
- Taker and maker commissions are both quite low;
- Convenient mobile application that makes trading even more convenient than the platform's web version.
Cryptocurrency derivatives, and why do we require them?
Financial derivatives based on cryptocurrencies are known as crypto derivatives. Simply described, it is a contract tied to the value of a single digital asset or a basket of coins.
A bitcoin-based derivative (BTC) is an example of a derivative that is linked to the movement of the coin's price.
Crypto derivatives can be used to invest in cryptocurrencies without having to buy them directly. Institutional investors, in particular, would benefit from such a deal.
The fact is that huge investors are concerned about transactional legality. Because the financial instrument does not entail direct connection with digital assets, it is possible to make large-scale trades in the crypto derivatives market without concern of breaking the law.
How do BaseFEX cryptocurrency derivatives work?
The parties: the buyer and the platform on which crypto derivatives are traded, conclude an agreement to buy or sell the asset under certain conditions. All details of the transaction are fixed in the contract.
It is important to clarify that the term crypto derivatives hides a whole group of financial instruments with their own features.
They share a common principle - the formation of agreements on a transaction that will actually occur in the future.
The working principle of most crypto derivatives can be explained with the help of an example:
Bitcoin is currently worth $30,000. You believe that the bitcoin exchange rate will increase by $5,000 in two weeks. You may see a derivative contract to acquire a specified volume of coins at the current price on the trading platform, which can be concluded for the term of his interest.
With his assistance, you can receive bitcoin for $30 thousand on a specific day, regardless of market fluctuations. During that time, even if BTC rises to $50k, the contract will still provide you with coins at a predetermined price.
You create plans to work with the derivative with the platform. Fortunately, bitcoin increased in value by $5,000 in a short amount of time.
You truly become the owner of the contract for the asset, worth $35 thousand, after the expiration (the expiration of the agreements), while you paid $30 thousand. Your earnings are the difference between the purchase price and the current value of the cryptocurrency.
BaseFEX derivatives in Malaysia are popular.
Below is an overview of the most popular types of cryptocurrency derivatives.
Cryptocurrency futures are contracts that contain obligations to sell or buy the asset in a predetermined amount at a certain price.
The financial instrument allows to protect investors from the negative consequences of fluctuations in the rate of the asset of interest.
There are various futures on the market. Including bitcoin-based instruments and Ethereum, the second most capitalized cryptocurrency, are available to investors.
Many major sites trade digital asset-based futures.
Options on cryptocurrencies
An option is a contract that offers the buyer the right to buy (call option) or sell (put option) a coin at a specific price within a specified timeframe.
If the rate of the asset to which they are tied moves in the direction indicated by the buyer, you can profit from bitcoin options.
How to trade BaseFEX crypto futures in Malaysia?
2FA Registration and Connection
- Click "Register" or "Start Trading";
- Enter your email address, a password (10-256 characters, including letters, numbers, and symbols), and a nickname to use in the system;
- Then click "Register";
- Solve the captcha by moving the slider to the desired position;
- After that, you will need to confirm your email. Enter the code that came in the letter, and the system will automatically authorize you, redirecting you to the home page.
It is recommended that you immediately enable two-factor authentication in your personal cabinet, because without this function it is impossible to withdraw money from the exchange.
This is done as follows:
- Go to "Account", then "My Account". Click "Enable" next to the Google Authenticator item;
- Enter the verification code you received in your email;
- Download the Google Authenticator app on your phone or tablet if you don't already have it;
- Keep the verification code in a safe place;
- Open the app on your phone, press the "+" at the bottom corner, then "Scan barcode". Scan the code;
- Enter the two-factor authentication code that appears in the app.
Done, 2FA is activated and you have full functionality of the exchange.
To access your personal account on BaseFEX, select Account from the top menu.
The following sections are located here:
- Information on the current amount of funds on the account;
- Profit for the day;
- Value of open positions;
- Margin balance;
- Unrealized PNL.
Deposit in BTC or USDT by copying an address or scanning a QR code. Deposit in Bitcoin network is considered successful after 1 confirmation by miners, in Ethereum network - after 12. Minimal deposit amount is 0,002 BTC or 20 USDT.
On BaseFEX, navigate to "Account" and then "Deposit" to make a deposit. Take a note of the created address.
Paste the address from the exchange into the "To" field. Fill in the amount that will be credited to your account. If the Priority commission is specified, the Bitcoin transaction will be confirmed more quickly. The transaction may freeze if you leave the minimal commission.
Click Continue, then double-check the information you submitted in the next window.
In 15 minutes the funds will be credited to the BaseFex account, and you will receive an email notification about it.
Withdrawal of funds in BTC or USDT. Minimum deposit amount is 0.002 BTC or 20 USDT. All withdrawals are checked manually and processed once a day 7:00 UTC +0.
Information about the effectiveness of the referral program. Here you can copy your referral link to place it on the third-party resources. When new users sign up using it, the referrer gets a bonus paid to his/her account and receives certain bonuses.
Information about the commission rebate programs offered by BaseFEX. The programs can have different refund conditions and help an active trader to save on fees.
Here you can change your email address and password, connect two-factor authentication Google Auth. You cannot change your nickname.
Settings of notifications about events and actions, change of time zone and settings of display of your nickname in ratings on ROE and affiliate programs.
Create API keys to use the functionality of the site on other resources.
Device management. List of the last devices that were used to login; dates and IP-addresses of those logins.
In the section "History" you can track your own activity on the exchange, find recently made transactions and orders, deposits and withdrawals, history of logins.
BaseFEX crypto futures trading
The main trading instrument on BaseFex is an open-ended contract. It's a contract to purchase or sell currency at a predetermined price. Open-ended contracts differ from futures contracts in that they do not have an expiration date. They are traded in the same way that a spot is traded.
The base currency's exchange rate. A finance method is utilized to ensure that the rate is always suitable, with rates updated every 8 hours.
The BaseFEX derivatives trading terminal is located in the Trading section.
The following areas are presented:
- Area of trade instrument (contract) selection;
- Chart from TradingView;
- Order creation area;
- Order book and last trades.
To buy and sell contracts, you must place the appropriate buy/long or sell/short orders. The functionality for creating orders is presented in the trading terminal under the rate chart.
Venture capital funds InBlockchain and ZhenFund, billionaire Li Xiaolai, and the large spot exchange Big.ONE have invested in BaseFEX. It has been added to CoinMarketCap's list that is why you should definitely try it.