Phemex is a Singapore based cryptocurrency derivatives trading platform. It has Launched on 25/11/2019. It has 25 different currencies and offers different type of trading.
Phemex is the latest cryptocurrency derivatives trading platform. Phemex sports a “User-Oriented” approach to developing its features and offer incredibly high performance by the standards of the crypto industry. Phemex allows its users to trade contracts backed not by crypto assets, and promises, in 2020, to accommodate derivatives of traditional financial products, such as S&P 500 stock indexes, interest rates, FOREX, commodities, metals, energy, etc. …
Bitcoin futures market has seen a tremendous growth since December 2017; when Bitcoin futures were first introduced by Cboe Futures Exchange, LLC (CFE). CFE later bowed out of the Bitcoin futures market in 2019. However, though the pioneers exited the market a number of other exchanges including the Chicago Mercantile Exchange (CME); which is one of the largest futures exchange in the world saw a golden opportunity and decided to utilize it.
Phemex ‘s most remarkable characteristics are technical: <1ms latency speed, >300k transactions/second, >99.9999% availability, which put Phemex on part with traditional financial exchanges. Phemex will also support FIX API and sub-accounts commonly requested features by crypto users. In terms of crypto-assets Phemex’s offer is relatively contained: Bitcoin, Ethereum, Ripple, Litecoin; and in terms of orders the platform offers the most common type of orders.
Asset security seems to be taken very seriously at Phemex, the platform built its own Hierarchical Deterministic Cold Wallet System, which assigns an independent deposit address to each user so that all assets are kept in cold wallets. Moreover, similarly to BitMEX, BTC collection and transfer are all conducted via offline signature with strict human scrutiny.
Phemex establishes a 0.015% maker fee and a taker fee of 0.065% plus 0.05% fee for the platform, which is on par with the rest of the industry. For any inquiries contact us at [email protected]. Follow our official Twitter account to be updated on the latest news. Join our community on Telegram to interact with us and the Phemex traders.
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