As per the report Phemex a Singapore based cryptocurrency spot and derivatives exchange launched in 2019 recently announced that the BTCUSD Linear trading contract is now available, on the platform’s official website. Phemex is headed by eight former Morgan Stanley directors, including Jack Tao. it claims that they planned to make a client-oriented platform that didn’t hold the usual disadvantages of crypto exchanges.
The report states that the platform pays close attention to the security of users’ funds in order to protect their accounts from hacks. All assets are stored on cold wallets, and transactions are carried out through an offline signature with control carried out by the team. The company aims to help people in a safe and profitable manner.
The report documented the core highlights of Phemex’s contract trading as More than 300 thousand transactions are processed per second, a convenient panel with various tools, Subaccount functions designed to support long-term and short-term contracts, Access to up to 200 sub-accounts, convenient withdrawal of funds and a full API interface and the most reliable protection and cold wallet storage.
The platform claimed that it also provides bracket orders – this is a special tool that allows you to set both stop loss and take profit simultaneously. It helps to minimize risks while trading and also saves time because there is no need to monitor the price movement constantly or place additional orders.