KuMex reveals cooperation with ‘few big guys’ as platform addresses derivatives

Hong Kong-based cryptocurrency exchange KuCoin recently organized an AMA on Telegram regarding its contracts trading platform, KuMex, ongoing developments, and its plans for the future. 

The first part of the AMA consisted of questions from KuCoin themselves, to which KuMex announced plans for adding altcoin contracts, higher leverage, ETH perpetual contracts, Quanto products, and VIP structure on the platform soon to boost volumes. KuMex also addressed how contract trading is generally for professional traders in the past, adding that the platform is going to make it more friendly to non-institutional traders very soon.

“The best time to invest in Bitcoin was 10 years ago. The second best is now.”

During the second part of the AMA which involved questions from the audience, KuMEX spoke about its plans to boost adoption. KuMex stated that since derivatives help traders mitigate portfolio risk, there will always be a demand to hedge cryptocurrencies by holding short positions in the derivatives market.

Further, KuMex stated that the biggest challenge for common users is to understand how derivatives actually work. The platform also mentioned how derivates are not as risky as people may think, as long as one has a good risk control system.

“Always have a stop-loss order when you have positions.”

Additionally, it was revealed that KuMex is cooperating with “a few big guys” in traditional financial markets and institutions from Wall Street, institutions that are trusted partners and “will bring funds and reputation to [them].”

KuMex also expanded on its plans to attract more users globally this quarter and in 2020.