Coinbase Advanced announced that NEO perpetual futures trading will launch on the custodial exchange at 9:30 a.m. (UTC) on Thursday, Sep. 5. While Advanced users will be able to speculate on the future price of NEO, Coinbase will not offer spot trading of the token. This means that users will not be able to buy NEO and send the digital asset to a private wallet.
Perpetual futures, or perps for short, are a type of derivative trading product that allows traders to speculate on the future value of an asset without an expiration date. Unlike traditional futures contracts with specific expiry dates, the users can hold a perpetual futures contract indefinitely. Perps contracts offer the potential for larger gains but also increase the risk of larger losses.
Coinbase Advanced is an exchange platform oriented toward more experienced traders. It offers more features and tools for users to buy, sell, and trade cryptocurrencies. Examples include charts powered by TradingView, advanced order types, API endpoints for third-party applications, and access to other features offered by Coinbase, such as staking, Borrow, Card, and the dApp Wallet. Coinbase Advanced provides access to more than 350 market pairs.
Interested individuals must apply for an account to trade perps on the Coinbase Financial Markets subsidiary entity, which requires the user to be a Coinbase customer. To qualify, an interested user must submit their age, trading experience, occupation, income, and net worth.
The full announcement can be found in the link below:
https://x.com/coinbasetraders/status/1829187257720279209
About The Author: Dylan Grabowski
Dylan is a reformed urban planner with a passion for covering the Neo ecosystem. His objective as a writer for Neo News Today is to report news in an objective, fact-based, non-sensational manner. When not behind a computer screen, he can be found in the mountains rock climbing. Find Dylan on Twitter (@GrabowskiDylan).
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