CoinSwitch has rolled out its latest feature—crypto futures trading—allowing select users to engage in long or short positions on perpetual futures contracts. The move is aimed at enhancing trading opportunities, with leverage of up to 25x, and offers traders more flexibility to capitalize on market volatility.
Expanding Crypto Offerings
CoinSwitch’s futures trading service grants access to over 350 contracts, including major cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Polygon (MATIC), and Ripple (XRP). Users can opt for long (buy) or short (sell) positions on these futures contracts, giving them the ability to either benefit from price increases or hedge their current holdings.
This new feature is accessible through both mobile and desktop, allowing seamless integration for traders using CoinSwitch PRO accounts. According to the company, CoinSwitch Futures boasts some of the lowest fees in the market, making it highly competitive in the crypto futures space. For a limited time, new users can take advantage of a 100% commission rebate during the first 15 days of use, further incentivizing early participation.
Aiming to Empower Advanced Traders
Balaji Srihari, Business Head at CoinSwitch, emphasized the company’s commitment to empowering traders with diverse crypto investment and trading tools. “By offering leveraged futures contracts, we aim to cater to sophisticated traders who want to capitalize on price movements in the dynamic crypto market,” Srihari stated.
This launch comes shortly after CoinSwitch introduced specialized cryptocurrency investment services tailored to high-net-worth individuals (HNIs) and institutional investors. These services are designed to provide secure, bespoke solutions that meet the needs of these high-value customers.
CoinSwitch’s Competitive Edge
As one of India’s top crypto exchanges, CoinSwitch continues to expand its offerings to stay ahead of the competition, including rivals like CoinDCX, which already offers futures trading services. CoinSwitch’s move into the crypto futures market demonstrates its intent to deliver a broader range of options for traders, making the platform more attractive to both retail and institutional investors.
With a user base of over 20 million, CoinSwitch has grown rapidly in recent years, attracting significant investments. In September 2021, the platform raised $260 million in Series C funding from prominent investors like Coinbase Ventures and Andreessen Horowitz (a16z), reaching a valuation of $1.9 billion and securing its place as India’s highest-valued crypto unicorn.
Looking Ahead
CoinSwitch’s futures trading launch is part of its broader mission to offer comprehensive trading tools and services that cater to both novice and advanced users. As the platform continues to evolve, it aims to provide the resources and flexibility needed to navigate the fast-paced world of cryptocurrency trading.
This development not only strengthens CoinSwitch’s position in the market but also signals its intent to remain a leader in India’s growing crypto landscape.
