To support its large and passionate global community of traders during "Crypto Winter," a Singapore-based regulated cryptocurrency exchange BingX launches its Futures Grid Trading instrument.
Futures Grid Trading is now available on BingX
According to the official statement shared by the team of BingX crypto exchange, it implements Futures Grid Trading to accompany its Spot Grid Trading instrument introduced in March 2022.
The new instrument is designed to combine futures trading and grid trading — a newbie-friendly technique that opens and closes orders at predetermined intervals around a predetermined price range to build trading grids.
As such, traders can buy low and sell high in an automated manner with no need to adjust this mechanism manually. Also, there is no need to forecast the direction of the price movement: grid trading allows users to benefit from price fluctuations in both directions.
To support traders when there is blood in the streets, BingX introduced the minimum possible deposit amount for the Futures Grid module. Traders can try using a new instrument with 20 USDT only.
BingX prioritizes users' safety amid bear market
Last but not least, BingX users can boost their profits by using 125x leverage instruments while trading in the Futures Grid mode. Elvisco Carrington, BingX Global Communications and Public Relations Director, higlights that the novel feature unlocks new opportunities for leveraged trading to all of the platform's users:
For this quarter, part of BingX's strategic focus is to provide users and traders with a better trading environment and new tools that facilitate profitability. We are also further simplifying the trading process so they can employ new trading tactics that allow them to gain, especially considering the current market situation.
To make the first experiences with the new instrument more newbie-friendly, BingX is going to cover all losses in its first Futures Grid Trading sessions.
Following the Three Arrows Capital collapse, BingX representatives stated that the platform has never hedged users' funds in venture investments and does not intend to do so.