CoinFLEX crypto futures

What is CoinFLEX?

Coin Futures and Lending Exchange, or CoinFLEX for short, calling itself “the world's first physically delivered cryptocurrency futures exchange”, is a platform for trading bitcoin, altcoin and stablecoin futures with low fees and low risk of settlement disruption.

CoinFLEX was formed with Polychain Capital and registered in the Seychelles in February 2019.

Most of the trading volume on CoinFLEX comes from the XBT / USDT futures contract, the DOT / USDT contract and other pairs are also popular.

One of the platform's many distinguishing features is the CoinFLEX API, which allows up to 200 orders per second to be placed in high frequency trading, making CoinFLEX a suitable option for institutional and professional traders.

This speed of order execution opens up new opportunities for traders trading cryptocurrency derivatives. Therefore, more and more people are choosing to trade CoinFLEX derivatives in the Philippines.

What are crypto derivatives?

A Cryptocurrency Derivative is a financial derivative that is an agreement to receive an underlying asset (cryptocurrency).

In simple terms, these are exchange instruments for concluding urgent transactions. A derivative is derived from the value of the underlying asset, not a copy. Trading participants use a derivative for speculation (high profits) and hedging risks.

Cryptocurrency derivatives are:

• Deliverable (if the underlying asset is delivered to the buyer after completion of the transaction).
• Estimated (non-deliverable - calculated by the formula, prices are purely indicative, there is no delivery of the underlying asset).

The following types of derivatives are most common now:

• futures;
• options;
• forwards.

CoinFLEX became the first exchange in the world to launch a deliverable cryptocurrency futures contract.

What is crypto derivatives exchange?

These are exchanges that provide users with the ability to trade derivatives. Typically, these exchanges combine spot trading and derivatives trading.

On such sites, you can allow you to buy or sell derivatives (derivative contracts, the value of which depends on the spot value of the assets). They are often used by traders as a way to hedge other investments or short-term speculation when trading in highly volatile markets.

How does cryptocurrency derivatives trading work?

As a rule, the exchanges create separate trading platforms for trading on the spot market and derivatives. At the same time, the functionality of the platform for derivatives is much wider. When trading derivatives, you can use not only regular market orders, but also limit orders and stop orders. Also, when trading futures, you can not only buy, but also sell an asset. When trading cryptocurrency futures, many exchanges offer leverage.

The CoinFLEX derivatives trading platform also has great functionality. The chart is integrated with TradingView and is very user-friendly. 

Standard buy / sell orders, as well as limit and stop orders, are available for trading. The platform also displays the order book. Those. CoinFLEX derivatives trading platform has all the necessary functionality to work with cryptocurrency derivatives.

How to trade CoinFLEX derivatives in the Philippines?

CoinFLEX derivatives in the Philippines will be available to trade immediately upon account registration. We will consider in more detail the process of registering an account and trading on CoinFLEX crypto futures in the Philippines below.

How to register?

To start trading on CoinFLEX cryptocurrency derivatives, create an account by going to the registration page, where you need to enter your email address and come up with a secure password, and then click the Register button.

After that, you will receive an email with a link that you must click to activate your account.

After verifying your account and logging in, you will need to agree to some conditions, after which the “Proceed to EXCHANGE” button will become active, and you can freely use the platform, fund your account and trade CoinFLEX crypto futures in the Philippines.

Also you can choose two-factor authentication for your account.

Choose Authy, YubiKey or Google Authenticator of your choice and follow the onscreen instructions to complete the pairing process.

It is also important that, like some other exchanges, CoinFlex does not require its users to go through KYC procedures to use the platform. But raising your KYC level will allow you to raise your withdrawal limits.

KYC1 is the default level, if you want to upgrade to KYC2, please enter your real identification information and the system will automatically check it.

To switch to KYC3, you will need to provide additional information to onboarding@coinflex.com.

Withdrawal limits depending on KYC levels:

• KYC 1, withdrawal limit: USD 10,000 for the entire validity period (the limit applies only to withdrawals in USD and USDT);
• KYC 2, withdrawal limit: 10,000 US dollars per day (only the amount in US dollars and USDT is limited);
• KYC 3, Withdrawal limit: Unlimited.

To remove all withdrawal limits, you need to get the KYC level 3. To do this, you need to provide the following data:

• The passport;
• Confirm Address;
• Fill in the form.

Despite the fact that passing KYC on CoinFLEX is not a mandatory procedure, the exchange still has restrictions on trading for citizens of some countries. Citizens of the United States, Cuba, Iran, Syria, Sudan, North Korea and Afghanistan are strictly prohibited from trading on the CoinFlex exchange. This list of countries is subject to change. The current list of countries is presented on the exchange website.

As stated in the User Agreement, CoinFlex reserves the right to block and liquidate all positions of the user if the exchange suspects that this user lives in one of the above countries. Therefore, do not try to cheat the exchange. If you are a citizen of one of the countries that are on the banned list, then you should not trade, register an account and trade on CoinFLEX cryptocurrency derivatives.

How to open a demo account?

Not all exchanges offer a demo trading feature, but CoinFLEX does. You can use a demo account immediately after registering an account.

How to open a real account?

A real trading account on CoinFLEX will be opened immediately after registering an account. You just have to fund it and start trading on CoinFLEX crypto futures in the Philippines.

How to replenish a deposit?

To replenish your account, you need to go to the platform website. There is a "Deposit" button in the control panel. In the drop-down menu, you can select the coin you will fund your account with. 

The platform currently supports: BAL, BAND, BCH, BTC, COMP, CRV, ETH, FLEX, LINK, SNX, SUSHI, UNI, USD, USDT, YFI, YFL, flexBTC, flexETH, flexUSD.

Select the coin you want to deposit and read the information provided on the screen to find out the minimum deposit and confirmation details.

Once you are ready to proceed, check the box next to “I understand and accept all (…)“ and then click the button to receive the escrow address.

When the transaction receives the required number of confirmations, the coins should be displayed in your account balance, after which they become available for trading.

Minimum deposit amount

For all cryptocurrencies, with the exception of DOGE, DOT, XRP is set at a minimum of 0.0001. For DOGE, the minimum is 1, for DOT it is also 1, for XRP 20.

How to withdraw money?

Withdrawing money from the CoinFLEX cryptocurrency derivatives trading platform is easy.

To do this, go to the "Withdraw" tab and click "Wallet". Here you must specify the cryptocurrency of the withdrawal and the amount.

CoinFLEX derivatives list

A detailed and up-to-date list of instruments should be viewed on the website of the trading platform. The list changes from time to time, so the site always contains the most relevant information about which instruments can be traded on the CoinFLEX cryptocurrency derivatives trading platform.

How does CoinFLEX crypto derivatives trading work?

If you have funded your account you can start CoinFLEX crypto futures trading. To do this, select “Trade” in the top menu.

Now you have the opportunity to select the desired market and trading instrument. In the window in the middle, you will see the order book and completed trades.

The window on the right is used to select the direction of the deal, select the type of order, volume, etc. You can also choose the size of the leverage.

If it is a market order, it will be executed immediately, and limit orders are executed when the specified conditions are met.

Alternatives to CoinFLEX cryptocurrency derivatives

While CoinFLEX outperforms the competition in many ways, it certainly isn't perfect. The platform has room for improvement in many ways.

Because of this, a trader may be tempted to look for an alternative that better suits his needs. But other exchanges also have their own disadvantages. Therefore, the choice of alternatives directly depends on your preferences and needs.

If you are looking for a wider selection of trading instruments, then you can take a closer look at Binance, okex, huobi and other platforms. If the speed of order execution and favorable trading conditions are important for you, then CoinFLEX is probably the right choice for you.