BaseFEX crypto futures
BaseFEX cryptocurrency derivatives trading platform - is one of the best for professional cryptocurrency traders. Leverage of up to 1:100 is available on the exchange.
Customers can trade open-ended contracts in the most popular cryptocurrencies on the marketplace. Etherium and Bitcoin are examples of this.
The platform has a long number of features to choose from. Many traders from all around the world are interested in the exchange's assets.
Features of BaseFEX derivatives trading platform
The platform presented was created in 2018 by a group of developers with extensive experience in forex trading. Many of them had also previously worked on IT projects.
Most of the developers were previously on the staff of well-known exchanges. Huobi Global in particular.
However, many things in the work policy did not suit them, so they decided to merge to run their own project.
The developers have set a goal of creating a platform where the main BTC currency can be traded without obstacles and restrictions.
At the moment, the problem is being solved by using innovative technology and expert support to ensure the most convenient, profitable and secure exchange.
- No verification or passport details required.
- Quality account security. Most important actions are confirmed either via Google Authenticator or email.
- A+ security rating by Mozilla Observatory.
- 24 hour support chat.
- Low commissions.
- Convenient interface with a choice of more than 10 languages, high speed.
- Availability of a full-fledged mobile application.
It is important to note that the platform works perfectly. There is almost never any downtime, no server overload, and transactions are executed very quickly.
Up to 1,000,000 transactions per second can be made on the exchange without delay. It's a very high speed. In terms of security, the developers have made this a priority from the beginning.
According to the Mozilla Observatory's tests, the level is extremely high. It is now the world's only cryptocurrency exchange with an A+ rating.
It has never been hacked, nor has its security been jeopardized.
The exchange's key characteristic is that it is linked to bitcoin, the world's oldest cryptocurrency. The price of bitcoin influences the price of altcoins, and this is an established fact.
Users can do BaseFEX crypto futures trading in Ripples, Lightcoins and other cryptocurrencies. Still, withdrawals and deposits are mainly available in BTC only.
You can also conduct transactions in USDT, which are tokenised dollars from Tether. The price of Stablecoin is pegged to America's national currency, and is always exactly $1. It is one of the most stable and low-risk cryptocurrencies.
The way in which user funds are stored is also of interest. So, they are saved in offline wallets, each withdrawal is checked personally by the administration.
This is one of the safest ways to keep funds safe, as the risk of withdrawal or theft of money in such situations is almost zero.
It is noteworthy that in order to access the funds anyone has to get at least 5 approvals.
As written above, the project was created by fairly well-known developers, previously working in related fields.
In fact, the team is skeptical of the common mentality among alternative exchanges.
In particular, they do not like the fact that other exchangers allow themselves to constantly use client data. This is where BaseFEX differs from most other exchanges.
Types of BaseFEX derivatives in India
Traders can benefit from crypto derivatives by speculating on the future price of bitcoin or other cryptocurrencies. Different types of crypto derivatives can be exchanged on both traditional and regulated cryptocurrency exchanges.
BaseFEX cryptocurrency derivatives allow you to buy assets in a defined amount at a predetermined price at a specific time. The transaction will be completed by the system. On the exchange, you can enter into a contract in bitcoins or USDT. Crypto futures trading can also be done over an online terminal. This helps you to analyze price change dynamics and make purchases.
This function is comparable to a savings account at a bank. You can save by putting digital assets on an exchange for interest. The money is sent for a set amount of time. It can't be continued. The exchange offers a 60 percent yearly interest rate on some digital currency. The minimum deposit amount is determined.
The minimum deposit amount is determined, as well as the time period for which the system is available to accept funds.
How to become platform user?
To start BaseFEX derivatives trading you should pass the registration.
BaseFEX requires the following information from its users:
Subsequently, the data provided will be used to operate on the platform.
Once you have entered all your details, you will receive an exchange email with a password that will allow you to enter the exchange profile. There are no further checks.
The only exception is that you may need to authenticate your email from time to time.
After completing the registration process, a customer can fund a deposit account by transferring funds from a USDT or BTC account. A deposit of at least 0.0001 BTC is necessary.
Trading BaseFEX crypto futures in India
So, let's understand how to trade on the exchange described.
Both purchase and sell orders are possible. The system will first determine whether you have sufficient funds on your account to cover the initial margin.
If the position is already open, the system will verify if there are sufficient funds to adjust the maintenance margin and PNL, and if the position will be completed at the open order's value. After that, the order will be placed in the order book.
The amount of initial margin is deducted from the available balance when open orders are placed.
Thus, BaseFEX cryptocurrency derivatives trading is possible through futures and open-ended contracts.
For example, a buy or sell order will necessarily require an initial margin. The commission will be booked using the limit bid price.
However, the actual commission will be calculated by the system as a result of the final execution price of the order. The trader does not need to pay initial margin if the order will reduce the size of the position.
It is important to note that if the contract will use fair price marking, the initial margin will be calculated using different algorithms.
If an order is placed above or below this price, the trader will necessarily need to cover the difference between the prices.
Fixing and settlement
So, open-ended contracts require funding. Examples of calculations can be found on the exchange website itself.
High leverage contracts are predominantly traded on the exchange. To maintain these positions, traders need to hold a % of the value of the position in their account - approximately 10%.
If requirements are not met, the position can become liquidated and the maintenance margin will be lost.
The liquidation price is shown in the 'open positions' section and can be changed by adding additional margin.
As written above, the fair value methodology applies to the stock exchange. It is used to avoid liquidation due to illiquidity or manipulation.
On liquidation, the exchange cancels open trades in current contracts, which allows for more free margin and ensures that the position is maintained.
But orders in other contracts will remain as they are, no one cancels them. The position is not liquidated in one go, the exchange has a gradual liquidation model.
How to recharge BaseFEX?
So, there are only two options for topping up your balance: depositing money from your cryptocurrency wallet into your BTC account or depositing money into your USDT account.
The transfer procedure is straightforward. By inputting a unique wallet address, you can move cryptocurrency from your account to the exchange account.
Cryptocurrency is withdrawn in the same way.
The user receives a percentage of commissions paid by referrals when they join BaseFEX's affiliate program, and referrals receive a 10% reduction on commissions for the first six months after signing up.
Referrals are given a proportion of the total commission paid to them. The user's BaseFEX account will be credited with the commission, which will be paid in Bitcoin. It's eternal, which means it'll last until the referral deletes his or her account. The amount of transactions a referrer receives is influenced by his or her referral activity. Only those who register within seven days of clicking on the affiliate link are counted as a referral.
The extensive security structure of the exchange guarantees 100% protection for customers.
The following are some of the key security methods:
- SSL encryption
- Encryption of passwords and sensitive customer data
- Frequent stress tests and security audits
The exchange is 100% secure, which is confirmed by its international rating and A+ mark.
Since 2018, the site has never been hacked and the system has never crashed, indicating a good technical level. User funds are stored in cold multisig wallets. And the absence of KYC is one of the decisive aspects for many people who want to remain fully anonymous when dealing with cryptocurrencies.
BaseFEX derivatives trading platform is a good choice for online trading. Create an account and experience the benefits of the platform for yourself.