BingX has launched a new trading product, ALTCOIN Index Futures, designed to simplify cryptocurrency trading by bundling the performance of leading altcoins.
Described as a first of its kind in the crypto space, the new trading product is based on the “futures indices”, a common tool in traditional finance that BingX has adapted for the crypto market. These indices allow investors to gain exposure to broader market movements without purchasing individual assets, reducing costs and time while diversifying risk.
ALTCOIN is paired with USDT and excludes Bitcoin and stablecoins, providing traders with efficient market exposure through a single transaction. It tracks major cryptocurrencies by market capitalization, including Ethereum (ETH), Binance Coin (BNB), XRP, Solana (SOL), Dogecoin (DOGE), Cardano (ADA), TRON (TRX), Avalanche (AVAX), and Shiba Inu (SHIB).
Vivien Lin, Chief Product Officer of BingX, emphasized the practicality of the new trading instrument, noting that aggregating leading cryptocurrencies into a single index simplifies market trend tracking for users. She further highlighted its appeal to less experienced traders, explaining that the ALTCOIN Index is designed to make it easier for them to achieve their trading goals.
According to Lin, the index offers a straightforward solution to speculate on major altcoins with leverage for those unsure about which specific asset to trade.
Meanwhile, this development builds on BingX’s latest move to expand its fiat deposit options by integrating SEPA and SEPA Instant payment services for euro deposits. SEPA supports smooth transfers across the EU, while SEPA Instant enables real-time deposits, even during weekends and holidays. These services come with no transaction fees, allowing users to fund their accounts quickly and cost-effectively.
BingX claimed the feature is targeted at enhancing its customers’ trading experience and strengthening its competitive edge in the cryptocurrency market.
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