The official announcement stated, “Traders in the US can now use the Coinbase Advanced platform to access spot (through Coinbase Inc) and futures (through CFM)-- all through one integrated, secure, and easy-to-use platform.”
Coinbase has expanded its Bitcoin (BTC) and Ether (ETH) futures offerings to US-based retail crypto traders.
In its latest blog post, Coinbase noted that clients can access the futures contracts on Coinbase Advanced. Users will also be able to use advanced order types and TradingView charts alongside the API tools needed to automate futures trading on the derivatives trading platform.
As of writing, Coinbase Advanced provides two types of futures contracts in the US. The first one, Coinbase Nano Ether Futures, has a contract size of “1/10th of Ether,” with a minimum price increment of $0.5 per Ether and a positional limit of 400,000 ETH.
Meanwhile, the Coinbase Nano Bitcoin Futures represent 1/100th of a Bitcoin. This contract has a minimum price increment of $5 per Bitcoin and a positional limit of 20,000 BTC. The trades for both BTC and ETH Nano Futures contracts will be settled in USD.
Currently, the crypto futures can only be accessed via web browsers, though CFM intends to add support for futures trading on the Coinbase mobile app soon.
It is worth noting that Coinbase has increased its efforts to venture into crypto futures since the beginning of the year. In May, the crypto giant established a derivatives exchange in Bermuda. In less than a month, Coinbase made BTC and ETH futures contracts accessible to institutional clients on its CFTC-approved derivatives platform. Subsequently, Coinbase Financial Markets, a subsidiary of the crypto exchange, secured regulatory approval from the NFA to operate as a Futures Commission Merchant (FCM).
Written by
Ayush Pande
Ayush Pande is a hardware, gaming, and crypto writer based in India. He's a tech enthusiast who's fascinated by the potential of blockchain technology.
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