Phemex Crypto Derivatives - How to trade Phemex Derivatives in India
          

What is Phemex? 

The site was founded on November 25, 2019. But the idea of ​​​​creating a new project came to the main developer Jack Tao back in 2017. While working at the financial conglomerate Morgan Stanley, he assembled a team of traders and investors who decided to launch a simple and reliable cryptocurrency platform. for investors. One of the key advantages of Phemex is the use of stop loss and take profit orders. These orders allow professional traders to fine-tune their trading strategies and set up profit-taking or stop-loss opportunities. The exchange currently offers a welcome bonus, this can be achieved by completing simple tasks. The Phemex project team emphasizes that they pay special attention to the reliability of the service. To do this, it provides:

  • Protection of client wallets. In particular, Phemex implements a cold storage system with an individual address associated with each account. All withdrawal requests are carefully checked by security officers.
  • Additional account security measures. Most financial transactions require the connection of a two-factor authentication procedure. If the system detects suspicious activity, the account will be frozen until the circumstances are clarified.
  • Protection of the system from hacking. The exchange has not recorded a single successful hacker attack.

Phemex derivatives trading platform is in the top 10 crypto exchanges in terms of perpetual contract trading volumes. This result is not accidental, as the company focuses on quality. Another plus is the fact that the company offers quick registration (without mandatory verification) and the most favorable exchange conditions.

Benefits of working on the phemex exchange:

  • First deposit bonus, training rewards and active trading.
  • Availability of an affiliate program.
  • Low commission rates, especially for contract trading.
  • Ability to conclude transactions without verification.
  • A structured user guide, tutorial articles and the ability to practice on a demo account.
  • For most of the actions on the site there is a step-by-step instruction.
Phemex cryptocurrency derivatives trading platform
Phemex cryptocurrency derivatives trading platform

What are derivatives?

A derivative is usually formal and standardized, initially provides for the possibility for at least one of the parties to freely sell this contract, that is, in fact, it is one of the options for securities. Usually, the purpose of buying a derivative is not to physically obtain the underlying asset, but to hedge price or currency risk over time, or to receive speculative profit from changes in the price of the underlying asset. Hedging involves a kind of risk insurance when a derivative contract is supposed to reduce the threat of future price fluctuations of the underlying asset. The losses of holders of derivative contracts in such situations are minimal, but the amount of possible profit is limited. The final financial result for each party to the transaction can be both positive and negative.

The derivative market is often speculative in nature, since it carries a significant amount of risks, and largely depends on momentary demand, or artificially caused hype for a particular product. the future. He does not have to worry about where to store it, or how to deliver it from the purchaser to the place of storage.

How derivatives differ from other exchange-traded instruments:

  • Dependence on the underlying asset. hence the name of the derivative.
  • Urgency. The contract immediately establishes the period of its execution.
  • Fixed cost. At the time of fulfillment of the obligations of the contract, it will remain the same, i.e. the one that is written in the conditions. Despite the current market price.
  • Margin. This is something like an advance payment that guarantees compliance with the deal. If one of the parties for some reason refuses to perform, the advance payment will remain with the other party.
  • Potentially high returns. With the help of derivatives, you can earn more than when trading stocks and bonds.

Phemex derivatives trading is carried out around the clock and on a daily basis.

Phemex derivatives trading platform offers opportunity to earn on assets price changes
Phemex derivatives trading platform offers opportunity to earn on assets price changes

How does cryptocurrency derivatives trading work?

Initially, you need to transfer funds to the appropriate trading account of the contract. Different contract trading accounts support different types of assets. For example, a BTC contract trading account requires BTC to be transferred from a spot wallet. Since Phemex does not currently support USD deposits, in order to transfer to a USD contract trading account, you must first convert the assets into USD in your spot wallet. Once the funds are transferred from the spot wallet to the contract trading account, you can start trading contracts.

Since this is a derivatives platform, there is no actual transfer of BTC between buyers and sellers. Instead, contracts are settled in the underlying asset and quoted in US dollars. The Phemex platform also supports all types of trading, which makes the trading platform very versatile, stable and well suited for various types of traders, including institutional traders. Phemex cryptocurrency derivatives is a stable income.

Trading room of Phemex cryptocurrency platform
Trading room of Phemex cryptocurrency platform

How to trade Phemex derivatives in India?

To conclude transactions, you must act in the following sequence:

  • Log in to the site.
  • Make a deposit.
  • Go to the browser or mobile terminal.
  • Specify a pair through the "Select Market" section in the upper left corner of the screen.
  • Fill out the order form. In particular, for limit and conditional trades, the order trigger price is indicated.

Actions in the contract market have several features. There are 2 ways to activate limit purchases:

  • At the latest price. In this case, orders react to changes in market value.
  • For the price of the label. Since the Femex contracts are perpetual, their prices and prices of the respective assets may vary. In order to prevent the discrepancy between them from becoming too large, the crypto exchange regularly adjusts the futures marking price, taking into account the interest rates on the components of the pair.

Beginners are advised to use the first activation option, because due to the difference between the cost and quotes of coins on the spot market, a novice trader may accidentally open a deal with unfavorable parameters.

Phemex derivatives in India are in high demand among traders.

Register in  Phemex trading platform
Register in Phemex trading platform

How to register ?

Registration is done in minutes. The registration process is listed below:

  • The first step to take is to visit the official page of the exchange.
  • You will then need to enter your email address and create a password.
  • After that, you will need to confirm the email address by clicking on the link sent to the mailbox. (if you do not see the letter, then it is recommended to look at the “SPAM” folder.
  • Enter the code that was sent to your email.

Registration completed. Now you can start viewing the interface and trading.

I would like to note that it is very important that only one user has access to the registered Email that was previously used when registering with Phemex, because this Email will be used to send you OTP codes, security updates and notifications, 2FA authentication and problem alerts with security, in case of an attempt to hack this Phemex account.

Phemex cryptocurrency derivatives trading can become an additional income, because trading takes a minimum amount of time.

Withdrawal of money

To start withdrawing funds for the first time, follow these steps:

  • Sign in to Phemex.com and click Resources in the top right corner of the page.
  • Click Withdraw Funds in the menu on the left.
  • Click the Manage Addresses link in the top right corner of the page.
  • Click the Add Withdrawal Address button.
  • Select the desired symbol/coin from the drop-down menu.
  • Enter the desired address and wallet name, then click Confirm.
  • Enter your Google Authenticator Code. If you don't already have Google two-factor authentication turned on, see How do I turn on Google two-factor authentication?
  • Check your inbox and copy and paste the verification code into the new window.
  • Select the Back button in the upper-left corner of the page.
  • Click on the Select Withdrawal Address field and select the newly added address. Then enter the desired amount.
  • Click the Withdraw button. Enter your Google Authenticator code again.
  • Check your inbox for the confirmation email sent by Phemex. Once you click on the confirmation link, your withdrawal will be fully confirmed.

THE NOTE:

  • Phemex premium users can withdraw funds every hour.
  • For regular users, Phemex will process withdrawals 3 times a day, at 08:00, 16:00 and 24:00 (UTC).
Phemex platform offers fast and safe transactions
Phemex platform offers fast and safe transactions

List of Phemex derivatives

Currently, only Full and Trial Premium Members can trade with zero commissions. Regular users pay 0.1% as a transaction fee (Takers/Makers). While Full and Trial Premium Members are not charged for spot trading on our website or app, API traders (Takers/Makers) still pay a 0.1% transaction fee.

Phemex provides various perpetual contracts. Makers whose orders are placed on the Phemex order list receive discounts for their execution. Takers, who take orders from the list, pay a commission. Funding fees are charged or issued between long and short positions every 8 hours. Phemex is not changing any capital or overnight fees.

A perpetual contract is similar to a traditional futures contract (an agreement to buy or sell a commodity at a predetermined price at a specified time in the future), but with one major difference: unlike futures, perpetual contracts do not expire, so you can hold a position for as long as want. In addition, perpetual contracts mimic the spot market on a margin basis and therefore trading occurs near the Index Price, this allows you to increase the income from the trade, but it also means that the decrease in the price of the commodity is equal to your initial margin (percentage of the total amount of funds provided you as collateral) will automatically liquidate your equity and close out your position.

The exchange also provides an instant purchase of BTC, ETH, USDT and other cryptocurrencies for fiat using a credit or debit card.

It’s worth noting that Phemex crypto futures trading is gaining momentum. On Phemex, you can earn income without storing crypto on your wallets.Operations with futures allow you to profit from predicting changes in quotes without buying the coins themselves.

Buy Phemex crypto futures in India and start earning today.

Benefits of  Phemex crypto derivatives trading
Benefits of Phemex crypto derivatives trading

Conclusion

Phemex cryptocurrency derivatives trading platform is very easy to use and suitable for both beginners and experienced traders.

Using the latest technologies in web development and security, Phemex brokerage company has been able to create one of the best trading platforms in the crypto industry. This platform is always secure, stable and efficient to use, regardless of the type of volatility in the crypto market.

Since its launch, the Phemex platform has never experienced a server freeze or crash. From a security standpoint, Phemex boasts a hierarchical deterministic cold wallet system that assigns individual deposit addresses to each user. All deposits are periodically collected in the company's multisig cold wallet using an offline signature. The platform processes withdrawal requests three times a day, which explains the relatively long waiting time for withdrawals. Like most exchanges, Phemex has a direct customer support line, as well as a FAQ page, complete with a help center. And the platform also leaves the ability for users to contact the CEO directly on Telegram, which is, of course, a pretty nice addition.

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GENERAL RISK WARNING:
The financial services provided by this website carry a high level of risk and can result in the loss of all your funds. You should never invest money that you cannot afford to lose