KuCoin Kicks Off KuMEX Crypto Derivatives Exchange Beta Today, July 8, 2019

👷💱Hong Kong-based KuCoin exchange is about to start work of a platform for trading crypto derivatives, KuMEX beta is to be launched today🚀😀

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Today, on July 8, Hong Kong-based KuCoin crypto exchange is launching a beta version of its new offspring KuMEX – a platform for trading cryptocurrency derivatives. The launch is to take place at 18:00 (UTC+8).

As per the KuCoin blog post, the public beta version will offer only simulated trading, with no deposits or withdrawals.

First asset to launch on KuMEX

The first trading asset to be kicked off on KuMEX will be the BTC Perpetual Contract (XBTUSDM). 

It is quoted in USD and denominated in Bitcoin. Users will be able to get up to 20 times leverage to trade it.

There are three kinds of orders supported at present: stop order, limit and market orders. Once KuMEX is launched officially, the team will take 50 percent of its revenue for delivery to KCS holders as KCS Bonus.

Each user who will participate in simulated trading on the KuMEX beta will get a deposit of 1 XBT (1 BTC). The simulated trading operations will continue for 3 successional weeks after it is launched.

The overall rewards for the first week will total 10,000 KCS.

KuCoin lists BNB

Recently, it has been reported that KuCoin exchange listed Binance Coin for trading. Many from the KuCoin community were expecting Changpeng Zhao to add KCS as a return courtesy. However, CZ does not seem to be in a hurry to do that.

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Yuri Molchan

Yuri entered the crypto sphere at the BTC price peak in 2017, quickly turning into a crypto enthusiast. He has written for several media, covering everything from TA to ICOs and crypto regulations. Presently is a news writer, working with crypto and blockchain-related topics.