In a tweet on December 26, CEO of KuCoin Michael Gan, along with addition of 10 new languages on KuMEX platform, also announced the launch of something new on KuMEX very soon and it seems that has been launched.
KuMEX, a Bitcoin futures trading platform developed by Singapore-based crypto exchange KuCoin, has released its KuMEX Lite to improve trading experience on the platform.
A number crypto news outlet on January 1 reported the release of Lite Version. According to the reports, Lite version focuses on the improving the trading experience of users by simplifying the overall interface of the platform.
By looking at KuMEX Pro and KuMEX lite, one can see that the lite version of KuMEX introduces three major simplifications. The first simplification is made in market interface with an easy switch-over option from candlesticks statistics of pro interface to simple line charts. The order book and recent trade history information have been hidden form the interface to make it more to-the-point.
The second simplification involves trading interface where users can simply place order by adding order amount and choosing between long or short and leverage option. In order to make it more easy and understandable for amateur traders it only asks for order amount instead of slot numbers.
The third and the most significant simplification is the addition of more sophisticated various analytical tools and statistical data. KuMEX Lite provides a long-short ratio to help users better understand the latest market trends. The introduction of a revenue calculator enables even newbie traders to calculate accurate return on investment, leverages and preferred investment strategies.
Furthermore, a revenue ranking provides insights regarding other traders’ strategies and return on investment (ROI), resulting in a more accurate and perfect trading strategy.
Users can easily switch between pro and lite version just clicking trade button and then selecting lite on the official site of KuMEX. A matching engine of KuMEX will take care of trading experience across two version.
Michael Gan, chief executive officer at KuCoin, commented:
“Due to the high risk and complexity of Bitcoin futures trading, currently only a few professional investors have been involved. In the crypto world, the transaction volume of derivatives is only about half that of the spot market, but in the traditional finance world, derivatives have always been a bigger market than the stock market. KuCoin has always wanted to launch a simple, secure, and accessible futures platform for everyone, and KuMEX Lite is our very courageous attempt at this. Through many innovations, we hope to empower more traders to give Bitcoin futures a try, maximizing their investment returns.”
KuCoin launched KuMEX on July 8, 2019. The platform supports Bitcoin-denominated contracts with ticker symbol (XBTUSDM) and quoted in US dollars.