Coinbase, which has an important place in the crypto world, continues to expand the services it offers to its users. According to news from official sources on September 5, Coinbase International and Coinbase Advanced platforms launched perpetual contract transactions for BB, CFX coin and NEO tokens. With this innovation, users will now be able to place limit, market, take-profit and stop-loss orders on these tokens.
Coinbase’s CFX coin, NEO and BB move draws attention
Cryptocurrency exchanges are trying to gain a competitive advantage by offering their users a wider range of transaction options. Coinbase, as one of the largest platforms adopting this strategy, has taken a new step and launched perpetual contract transactions for BB, CFX coin and NEO tokens on both Coinbase International and Coinbase Advanced. Perpetual contracts are derivative products that do not have a specific maturity date and allow investors to make more flexible transactions. The presence of these products on the platform continues to attract the attention of both professional and amateur investors.
Perpetual contract transactions are an important tool that allows users investing in crypto assets to better manage their risk. Unlike spot markets, these contracts offer investors the opportunity to profit from both the rise and fall of prices. Investors can take short positions when they predict the price will fall and long positions when they think it will rise. This flexibility allows users to create more trading strategies.
Coinbase’s product range is expanding
These new trading options offered by the Coinbase International and Coinbase Advanced platforms show the exchange’s determination to offer its users more investment opportunities. BB, CFX coin and NEO tokens are among the projects that are closely followed by different investor groups around the world. NEO, in particular, has a great impact on the Asian market as it is one of China’s first open-source blockchain platforms. While CFX (Conflux) stands out with its innovative structure as a blockchain project based in China, the BB (BounceBit) token has also managed to reach a significant investor base despite being a newer project.
The fact that these three tokens are accessible to users through continuous contract transactions also aligns with Coinbase’s strategy to increase diversity in the cryptocurrency ecosystem. The limit, market, take-profit and stop-loss order options offered in continuous contract transactions offer investors more control, which is a great advantage especially for professional investors. For BB, CFX coin and NEO tokens offered on Coinbase International and Coinbase Advanced, four different order types are offered to users in continuous contract transactions:
- Limit Order: Investors can use the limit order when they want to trade at a certain price. This type of order waits until the price level determined by the investor is reached and the transaction is automatically executed when the price is suitable.
- Market Order: A market order is activated for users who want to trade instantly. In this type of order, the investor quickly performs his transaction at the current market price.
- Take-Profit Order: When investors set a specific profit target, they can use a take-profit order to automatically close their positions when the price reaches this level.
- Stop-Loss Order: This type of order, which is very important in terms of risk management, allows investors to stop the loss at a certain level. When the price reaches the specified loss level, the transaction is automatically terminated, thus preventing further losses.
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