OkEx is fast becoming the leading futures exchange. The exchange behind OKB has just added a USDT futures contract to their listings.
The Malta based exchange’s USDT addition makes them the first to have a stablecoin as part of their futures offerings. The BTC/USDT pairing has been live for the past week or so after a simulation was completed on the fifth of this month.
Promising a leverage of 0.01–100x and a contract pricing of 0.0001 BTC, the new USDT contract is appealing if a bit daunting for new customers. However, the ease of use due to the company’s Linear Contract, which takes away the need to hedge the margin risk of inverse contracts, makes OkEx a standout exchange for USDT.
Users can also hold USDT rather than Bitcoin. Something which helped out one Twitter user in a bear market. @BTCVIX tweeted:
“Just pausing at this level until more downside $BTC.
USDT margined futures let you hold USDT rather than BTC — great in a bear market
Jay Hao, CEO of OKEx talked about the new USDT futures release in glowing terms, stating:
“The simulation of our USDT Futures Contract was very successful, and we received positive feedback from traders in the OKEx community.
“At OKEx, we’ve developed a safe, reliable, and stable environment for cryptocurrency trading, and strive to offer new services based on our customers’ interests. We’re excited to add USDT linear contract to our Futures market and next on the Perpetual Swap market to meet the interests of our growing international user base.”
The BTC pairing is only the beggining for the exchange. They will soon have cryptocurrencies such as EOS, ETH, LTC, BCH, XRP, ETC, TRX, and BSV on the USDT-margined futures market.
OkEx out in the lead
A comparison between OkEx and Bitmex had the former way out in front. This is because OkEx has more crypto on offer, holds more trading markets, lower fees, more order types, and a wider variety of underlying assets.
Even Binance, fails to compete with OkEx. Although that is not that surprising considering the latest news from the camp. The exchange was at the center of yet more controversy after a user complained about the lack of clear rules on the futures site.
The latest USDT feature,is clearly a groundbreaking move and one that sets them apart in the futures trading landscape.