Major cryptocurrency exchange Kucoin has announced the launch of a lite version of its Bitcoin futures platform KuMEX.
According to an announcement, the KuMEX lite version will focus on the core trading experience by simplifying the overall interface. And provide analytical tools to help new users to the crypto futures market better predict market trends and improve their investment strategies.
#KuMEX Lite not only focuses on core trading experience by simplifying the overall interface, but also provides analytic tools to help newcomers to the crypto futures market better predict market trends and improve their investment strategies.
— KuCoin Futures (@KuCoinFutures) January 9, 2020
The crypto-exchange stated that the new platform will play a crucial role in enhancing the core trading experience of users. It will also make the operating interface more user-friendly and simplified.
The process will reportedly be facilitated by KuMEX in a secure, reliable, and stable manner, ensuring proper standards of trading. The trading platform customers will be able to transit to the new Lite version conveniently.
KuMEX initiate three main remodifications
The Bitcoin futures platform introduced three significant simplifications in the lite version.
Firstly, the market interface will be switched from candlestick charts to line charts. Besides, KuMEX has hidden the order book and recent trade activity, making the overall interface more concise.
Secondly, the new version of the trading interfaces requires you to input the order amount, then decide on the leverage and long/short of placing order.
Thirdly, the upgraded Lite version has new analytical tools. The long-short ratio feature will help the users to grasp a better understanding of the market situation. The revenue calculator will help the investors to draw out their returns accurately, taking into consideration different leverages, strategies, and more factors.
KuMEX temporarily for professional investors
“Due to the high risk and complexity of Bitcoin futures trading, currently only a few professional investors have been involved. In the crypto world, the transaction volume of derivatives is only about half that of the spot market. Still, in the traditional finance world, derivatives have always been a bigger market than the stock market,” Michael Gan, KuCoin CEO, said.
KuCoin has also earlier entered into a strategic partnership with another cryptocurrency exchange named Bitsonic. It focuses on liquidity sharing. Accordingly, the companies want to use the agreement as a medium to launch a broad global alliance.