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.
KuMEX is a brand new cryptocurrency derivatives trading platform, independently developed by the KuMEX team that offers various leveraged contracts. KuCoin will launch the public beta for KuMEX at 18:00 on July 8, 2019 (UTC+8).— KuCoin Updates (@KuCoinUpdates) July 6, 2019
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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.