Help Center

This platform (hereinafter referred to as the "Company") is a company incorporated in the United Kingdom and a global digital asset trading platform. The company operates a website (hereinafter referred to as "this website" or "website"), which is a platform specifically for users to conduct digital asset transactions and provide related services (hereinafter referred to as "the service" or "service"). For the purposes of this Agreement For convenience, the company and the website refer to us and you collectively as the "Parties" in this Agreement, and we or you individually as a "Party". For the convenience of users, all content on the website may be provided in multiple languages. In case of conflicts or omissions, the Chinese content shall prevail.

important hint:

We hereby specially remind you:

• 1 The digital assets themselves are not issued by any financial institution or company or this website;
• 2 Digital asset markets are new, unconfirmed, and may not grow;
• 3 Digital assets are mainly used extensively by speculators, with relatively little use in retail and commercial markets. Digital asset transactions are extremely risky. They are traded continuously throughout the day, with no limit on rise and fall, and prices are easily affected by market makers and global government policies. fluctuation;
• 4 The Company reserves the right to suspend or terminate your account at any time if the Company determines, in its sole discretion, that you have violated this Agreement, or that the services provided by this website or your use of the services provided by this website are illegal under the laws of your jurisdiction. , or suspend or terminate your use of the services or digital asset transactions provided by this website. Anyone located in the United States or Japan is prohibited from using the services provided by this website.

Digital asset trading carries extremely high risks and is not suitable for most people. You understand and understand that this transaction may result in partial or total loss, so you should determine the amount of the transaction based on the degree of loss you can afford. You know and understand that digital assets will generate derivative risks, so if you have any questions, it is recommended to seek the assistance of professional advisors first. In addition, in addition to the risks mentioned above, there are also risks that cannot be predicted. You should carefully consider and use clear judgment to evaluate your financial situation and the above-mentioned risks before making any decision to buy or sell digital assets, and bear all resulting losses. We do not assume any responsibility for this.

Please note:

• 1 You understand that this website is only used as a place for you to obtain digital asset information, find transaction parties, negotiate and conduct transactions on digital assets. This website does not participate in any of your transactions, so you should use your own prudent judgment to determine the relevant digital assets and/or transactions. or the authenticity, legality and validity of the information, and shall bear the resulting responsibilities and losses on its own.
• 2 Any opinions, news, discussions, analyses, prices, recommendations and other information on this website are general market comments and do not constitute investment advice. We are not responsible for any losses arising directly or indirectly from reliance on this information, including but not limited to any loss of profits.
• 3 The content of this website is subject to change at any time without prior notice. We have taken reasonable measures to ensure the accuracy of the website information, but we cannot guarantee its accuracy, and we will not be responsible for any failure to link to the information on this website. Losses arising directly or indirectly from delays or failures in transmitting or receiving any notices and information over the Internet.
• 4 There are also risks in using Internet-based trading systems, including but not limited to failure of software, hardware and Internet connections. As we have no control over the reliability and availability of the Internet, we accept no responsibility for distortion, delays and link failures.
• 5  It is the only official external information release platform of this website;
• 6 It is prohibited to use this website to engage in all illegal trading activities or illegal activities such as money laundering, smuggling, commercial bribery, etc. If any suspected illegal transactions or illegal activities are found, this website will take various available means, including but not limited to freezing accounts and notifying relevant parties. Authorities, etc., we do not assume all responsibilities arising therefrom and reserve the right to pursue liability from relevant persons.
• 7 It is prohibited to use this website to maliciously manipulate the market, improper transactions and other unethical trading activities. If such incidents are discovered, this website will warn, restrict transactions, and close all unethical behaviors such as malicious price manipulation and malicious influence on the trading system. We do not assume all liability arising from preventive protection measures such as account suspension and reserve the right to pursue liability from relevant persons.

 

一、General principles

• 1.1 "User Agreement" (hereinafter referred to as "this Agreement" or "These Terms and Conditions"), consists of the main text, "Privacy Terms", "Know Your Customer and Anti-Money Laundering Policy" and various types of policies that have been published or may be published in the future on this website. Rules, statements, instructions, etc.
• 1.2 You should read this agreement carefully before using the services provided by this website. If you do not understand anything or if it is otherwise necessary, please consult a professional lawyer. If you do not agree to this Agreement and/or its modification at any time, please immediately stop using the services provided by this website or no longer log in to this website. Once you log in to this website, use any services of this website or any other similar behavior, it means that you have understood and fully agreed to the contents of this Agreement, including any modifications made by this website to this Agreement at any time.
• 1.3 You can become a member of this website (hereinafter referred to as "Member") by filling in the relevant information in accordance with the requirements of this website and successfully registering after other relevant procedures. By clicking the "Agree" button during the registration process, you sign electronically. Form of agreement with the company; or when you click on any button marked "Agree" or similar meaning during the use of this website, or actually use the services provided by this website in other ways permitted by this website, it means that you fully understand , agree and accept all the terms under this Agreement. The absence of your handwritten signature will not affect the legal binding force of this Agreement on you.
• 1.4 After becoming a member of this website, you will receive a member account and corresponding password, which are kept by you; you shall be legally responsible for all activities and events conducted under your account.
• 1.5 Only members who become members of this website can use the digital asset trading platform provided by this website for transactions and enjoy other services stipulated by this website that are only available to members; non-members can only log in to the website, browse the website and other services stipulated by this website. services.
• 1.6 By registering and using any services and features provided by this website, you will be deemed to have read, understood and: accepted to be bound by all the terms and conditions of this Agreement.

o.1.6.1You confirm that you are over 16 years old or have the legal age to enter into contracts according to different applicable laws. Your registration on this website, sales or purchases, publishing information, etc. and accepting the services of this website should be in compliance with your requirements. Have jurisdiction over the relevant laws and regulations of a sovereign country or region, and have the full ability to accept these terms, enter into transactions, and use this website to conduct digital asset transactions.

o 1.6.2You guarantee that all digital assets that belong to you involved in the transaction are legally obtained and have ownership.

o 1.6.3You agree that you are solely responsible for your own trading or non-trading activities and for any gains or losses.

o 1.6.4You confirm that the information you provide when registering is true and accurate.

o 1.6.5You agree to comply with the requirements of any relevant laws, including reporting any trading profits for tax purposes.

o 1.6.6 You agree not to engage in or participate in conduct or activities that harm the interests of this website or the company at any time, whether or not related to the services provided by this website.

o 1.6.7 This agreement only governs the rights and obligations between you and us, and does not involve the legal relationships and legal disputes arising from digital asset transactions between users of this website and other websites and you.

二、Agreement Amendment

We reserve the right to revise this Agreement from time to time and announce it on the website without notifying you separately. The changed agreement will be marked with the change time on the homepage of this Agreement and will automatically take effect once it is announced on the website. You should browse and pay attention to the update time and updated content of this Agreement from time to time. If you do not agree with the relevant changes, you should immediately stop using the services of this website; your continued use of the services of this website means that you accept and agree to be bound by the revised agreement. .

三、register

• 3.1 Registration qualifications

You confirm and promise that when you complete the registration process or actually use the services provided by this website in other ways permitted by this website, you should have the ability to sign this agreement and use the services of this website as stipulated by applicable laws. natural person, legal person or other organization. Once you click the Agree to Register button, it means that you or your authorized agent has agreed to the content of the agreement and has been registered and used the services of this website by his agent. If you do not have the aforementioned subject qualifications, you and your authorized agent shall bear all consequences resulting therefrom, and the company reserves the right to cancel or permanently freeze your account, and hold you and your authorized agent accountable. .

• 3.2 Registration purpose

 You confirm and promise that your registration on this website is not for the purpose of violating laws and regulations or disrupting the order of digital asset transactions on this website.

• 3.3registration process

o 3.3.1 You agree to provide a valid email address, mobile phone number and other information as required on the user registration page of this website. You can use the email address, mobile phone number you provided or confirmed or other methods allowed by this website as a login method to enter this website. If necessary, in accordance with the relevant laws and regulations of different jurisdictions, you must provide your real name, identity document and other relevant information stipulated in laws and regulations, privacy clauses and anti-money laundering clauses, and constantly update the registration information in a timely, detailed and accurate manner. Require. All originally typed information will be referenced as registration information. You are responsible for the authenticity, completeness and accuracy of such information, and shall bear any direct or indirect losses and adverse consequences arising therefrom.

o 3.3.2 If the laws, regulations, rules, orders and other regulations of the sovereign country or region where you are located have real-name requirements for mobile phone numbers, you agree that the registered mobile phone number provided has been registered under real-name. If you do not provide it in accordance with the regulations, any consequences caused to you will be You shall be responsible for all direct or indirect losses and adverse consequences.

o 3.3.3If you provide the information required for registration legally, completely and effectively and have verified it, you are entitled to obtain the account number and password of this website. When you obtain the account number and password of this website, your registration is deemed to be successful and you can log in as a member on this website.

o 3.3.4 You agree to receive emails and/or short messages sent by this website related to the management and operation of this website.

四、Serve

This website only provides online trading platform services for your digital asset trading activities (including but not limited to digital asset trading and other services) through this website.

• 4.1 Service Content

o 4.1.1 You have the right to browse the real-time market conditions and transaction information of various digital asset products on this website, and you have the right to submit digital asset transaction instructions and complete digital asset transactions through this website.

o 4.1.2 You have the right to view the information under your membership account on this website and to use the functions provided by this website to operate.

o 4.1.3 You have the right to participate in website activities organized by this website in accordance with the activity rules published on this website.

o 4.1.4 This website promises to provide you with other services.

• 4.2.Service Rules You promise to abide by the following service rules of this website:

o 4.2.1 You shall abide by laws, regulations, and policy requirements, ensure the legality of the sources of all digital assets in your account, and shall not engage in illegal or other activities that harm the rights and interests of this website or third parties on this website or by using its services, including but not limited to: You are not limited to sending or receiving any illegal, illegal, or infringing information on the rights of others, sending or receiving pyramid schemes or other harmful information or remarks, using or forging email header information on this website without the authorization of this website, etc.

o 4.2.2 You should abide by laws and regulations and properly use and keep your account number, login password, fund password, the mobile phone number bound to you when registering, and the mobile phone verification code received by your mobile phone. You are fully responsible for any operations and consequences of using your account and login password, fund password, and mobile phone verification code. When you find that this website’s account number, login password, or fund password or verification code are used by a third party without your authorization, or there are other account security issues, you should immediately and effectively notify this website and request this website to suspend the service of this website’s account. . This website has the right to take action on your request within a reasonable time, but this website does not bear any responsibility for the consequences (including but not limited to any losses you suffer) that have occurred before taking action. You may not donate, borrow, lease, transfer or otherwise dispose of your account on this website to others without the consent of this website.

o 4.2.3 You agree to be responsible for all activities that occur under your account and password on this website (including but not limited to information disclosure, posting of information, online clicks to agree or submission of various rules and agreements, online renewal of agreements or purchase of services, etc.).

o 4.2.4 When conducting digital asset transactions on this website, you must not maliciously interfere with the normal progress of digital asset transactions or disrupt the order of transactions; you must not interfere with the normal operation of this website or interfere with other users' use of this website's services by any technical means or other means; you must not use fictitious Maliciously defame the goodwill of this website through facts and other means.

o 4.2.5 If you have a dispute with other users due to online transactions, you may not request this website to provide relevant information through non-judicial or administrative channels.

o 4.2.6 You shall solely judge and bear any tax payable, as well as all hardware, software, service and other expenses incurred during your use of the services provided by this website.

o 4.2.7 You should abide by this agreement and other service terms and operating rules published and updated by this website from time to time, and have the right to terminate the use of the services provided by this website at any time.

• 4.3.product rules

o 4.3.1 Browse transaction information

When you browse transaction information on this website, you should carefully read all the contents contained in the transaction information, including but not limited to price, commission volume, handling fee, buying or selling direction, and only after you fully accept all contents contained in the transaction information Trades can be made with the click of a button.

o 4.3. 2 Submit order

 After browsing the transaction information and confirming it is correct, you can submit the transaction order. After you submit the transaction entrustment, you authorize the website to carry out corresponding transaction matching on your behalf. When there is a transaction that meets the price of your entrustment, the website will automatically complete the matching transaction without notifying you in advance.

o 4.3.3 View transaction details

 You can view the corresponding transaction records through your account.

o 4.3.4 Cancel/modify the order. You have the right to cancel or modify the order at any time before the order is completed.

五、Rights and obligations of this website

• 5.1 If you do not have the registration qualifications stipulated in this agreement, this website has the right to refuse your registration. For those who have already registered, this website has the right to cancel your membership account. This website reserves the right to hold you or your authorized agent accountable. s right. At the same time, this website reserves the right to decide whether to accept your registration under any other circumstances.
• 5.2Based on this website’s own judgment, if this website finds that you or your associated account users are not suitable for high-risk investments, we have the right to suspend or terminate your account and the use of all associated accounts.
• 5.3 When this website discovers that the account user is not the initial registrant of the account, it has the right to suspend or terminate the use of the account.
• 5.4 When this website reasonably suspects that the information you provide is wrong, untrue, invalid or incomplete through technical testing, manual sampling and other testing methods, it has the right to notify you to correct or update the information or to suspend or terminate the provision of this website services to you.
• 5.5 This website reserves the right to correct any information displayed on this website when it is discovered that there is an obvious error.
• 5.6 This website reserves the right to modify, suspend or terminate the services of this website at any time. This website does not need to notify you in advance to exercise the right to modify or terminate services. If this website terminates one or more services of this website, the termination will be from this website on the website. Effective on the date of publication of the termination announcement.
• 5.7 This website will take necessary technical means and management measures to ensure the normal operation of this website, provide necessary and reliable trading environment and trading services, and maintain the order of digital asset transactions.
• 5.8 If you do not log in to this website using your membership account and password for one consecutive year, this website has the right to cancel your account. After the account is canceled, this website has the right to open the corresponding member name to other users for registration and use.
• 5.9 This website ensures the security of your digital assets by strengthening technology investment, improving security precautions and other measures, and will notify you in advance when foreseeable security risks occur in your account.
• 5.10 This website has the right to delete all types of content information on this website that does not comply with laws, regulations or the regulations of this website at any time. This website does not need to notify you in advance to exercise such rights.
• 5.11 This website has the right to request you to provide more information or materials in accordance with the laws, regulations, rules, orders and other regulatory requirements of your sovereign country or region, and to take reasonable measures to comply with local regulatory requirements. You We are obliged to cooperate; this website has the right to suspend or permanently stop opening some or all of this website's services to you in accordance with the requirements of the laws, regulations, rules, orders and other specifications of your sovereign country or region.
  
  

六、compensation

• 6.1 In no event will our liability to you for direct damages exceed the total service fees we charged you for your use of the Site for a period of three (3) months.
• 6.2 If you violate this Agreement or other laws and regulations, you must compensate us for at least US$2 million and bear all costs incurred (including attorney fees, etc.). If it is not enough to compensate for the actual losses, you must make up for it.
  
  

七、Right to seek injunctive relief

We and you both acknowledge that common law remedies for your breach of contract or possible breach of contract may not be sufficient to compensate for all the losses we suffer, so we have the right to seek injunctive relief as permitted by common law or equity in the event of your breach of contract or possible breach of contract. all other remedies.

八、Limitation and Disclaimer of Liability

• 8.1 You understand and agree that, under any circumstances, we will not be responsible for the following matters:

o 8.1.1 loss of income;

o 8.1.2 trading profits or contract losses;

o 8.1.3 Losses caused by business interruption;

o 8.1.4 loss of anticipated monetary savings;

o 8.1.5 Losses caused by information problems;

o 8.1.6 loss of opportunity, goodwill or reputation;

o 8.1.7 corruption or loss of data;

o 8.1.8 the cost of purchasing substitute products or services;

o 8.1.9 Any indirect, special or incidental loss or damage arising from tort (including negligence), breach of contract or any other reason, whether or not such loss or damage is reasonably foreseeable by us; whether or not we have been informed of the existence of such in advance Possibility of Loss or Damage.

o 8.1.1 Articles to 8.1.9 are independent of each other.

• 8.2 You understand and agree that we are not responsible for any damages caused to you due to any of the following circumstances:

o 8.2.1There may be major violations of laws or breaches of contract in your specific transactions.

o 8.2.2Your behavior on this website may be illegal or unethical.

o 8.2.3 Costs and losses incurred by purchasing or obtaining any data, information, or conducting transactions through the services of this website or by substitute actions.

o 8.2.4 Your misunderstanding about the services of this website.

o 8.2.5 Any other losses related to the services provided by this website that are not caused by us.

• 8.3 We are responsible for information network equipment maintenance, information network connection failure, computer, communication or other system failure, power failure, weather conditions, accidents, strikes, labor disputes, riots, uprisings, riots, insufficient productivity or production materials, fire, Floods, storms, explosions, wars, bank or other partner reasons, digital asset market collapse, government actions, orders of judicial or administrative agencies, other actions beyond our control or that we have no ability to control, or third-party reasons We do not assume any responsibility for the inability or delay in service, or your losses.
• 8.4 We cannot guarantee that all information, programs, texts, etc. contained in this website are completely safe and will not be interfered with and destroyed by any viruses, Trojan horses and other malicious programs. Therefore, if you log in and use any services on this website or download and use any downloaded programs, Information, data, etc. are all your personal decisions and you bear your own risks and possible losses.
• 8.5 We do not make any guarantees or commitments about any information, products and services of any third-party websites linked to this website or any other form of content that does not belong to us. If you use any services, information and services provided by third-party websites, Products, etc. are all your own decisions and you bear all responsibilities arising therefrom.
• 8.6 We do not make any express or implied guarantees for your use of the services on this website, including but not limited to the suitability of the services provided by this website, no errors or omissions, continuity, accuracy, reliability, and suitability for a particular purpose. At the same time, we do not make any commitment or guarantee as to the validity, accuracy, correctness, reliability, quality, stability, completeness and timeliness of the technology and information involved in the services provided by this website. Whether to log in or use the services provided by this website is your personal decision and you bear your own risks and possible losses. We do not make any express or implied guarantees regarding the market, value and price of digital assets. You understand and understand that the digital asset market is unstable, and prices and values ​​may fluctuate or collapse significantly at any time. Trading digital assets is your personal freedom. You choose and decide at your own risk and possible losses.
• 8.7 Our warranties and commitments set out in this Agreement are the only warranties and representations made by us in relation to this Agreement and the services provided on this website and supersede any warranties and commitments arising in any other way and manner, whether written or oral, express of or implied. All these warranties and representations only represent our own commitments and guarantees and do not guarantee that any third party will comply with the guarantees and commitments in this Agreement.
• 8.8 We do not waive any rights not mentioned in this Agreement to limit, exclude or offset our liability for damages to the fullest extent applicable law.
• 8.9 After you register, you agree to any operations we perform in accordance with the rules stipulated in this agreement, and any risks incurred are borne by you. "
  
  

九、Termination of Agreement

• 9.1This website has the right to terminate all services of this website in accordance with the provisions of this agreement. This agreement will be terminated on the date when all services of this website are terminated.
• 9.2 After the termination of this agreement, you have no right to require this website to continue to provide it with any services or perform any other obligations, including but not limited to requiring this website to retain or disclose to you any information in its original website account, you or any third party The third party forwards any information that it has not read or sent.
• 9.3The termination of this agreement will not affect the non-breaching party's other responsibilities against the breaching party.
  
  

十、intellectual property

• 10.1 All intellectual achievements contained in this website include but are not limited to website logos, databases, website designs, text and graphics, software, photos, videos, music, sounds and combinations thereof, software compilations, related source codes and software (including small applications) programs and scripts) All intellectual property rights belong to this website. You may not reproduce, alter, copy, send or use any of the foregoing materials or content for commercial purposes.
• 10.2 All rights contained in the name of this website (including but not limited to goodwill and trademarks, logos) belong to the company.
• 10.3 Your acceptance of this agreement shall be deemed as your initiative to transfer the copyright of any form of information you publish on this website, including but not limited to: reproduction rights, distribution rights, rental rights, exhibition rights, performance rights, screening rights, broadcast rights, information Internet transmission rights, filming rights, adaptation rights, translation rights, compilation rights and other transferable rights that should be enjoyed by the copyright holder are exclusively transferred to this website free of charge. This website has the right to file an independent lawsuit against any subject for infringement and obtain full compensation. This agreement is valid for any work content protected by copyright law that you publish on this website, whether the content is formed before the signing of this agreement or after the signing of this agreement.
• 10.4 You may not illegally use or dispose of the intellectual property rights of this website or others when using the services of this website. You may not publish or authorize other websites (and media) to use the information published on this website in any form.
• 10.5 Your logging into this website or using any services provided by this website will not be deemed as our transfer of any intellectual property rights to you.
  
  

十一、Information protection

• The terms of the Privacy Policy published separately on this website shall prevail.
  
  

十二、calculate

All transaction calculation results have been verified by us, and all calculation methods have been published on the website, but we cannot guarantee that the use of the website will not be interrupted or error-free.

十三、export control

You understand and acknowledge that according to the relevant laws of the Republic of Seychelles, you are not allowed to export, re-export, import or transfer any materials (including software) on this website, so you guarantee that you will not actively implement or assist or participate in any of the above-mentioned violations of laws and regulations export or transfer or other violations of applicable laws and regulations; if such a situation is discovered, you should actively report it to us in a timely manner and assist us in handling it.

十四、transfer

The rights and obligations stipulated in this Agreement shall also bind the assignees, heirs, executors and administrators of the parties who benefit from such rights and obligations. You may not transfer it to any third party without our consent, but we may transfer our rights and obligations in this Agreement to any third party at any time and give you notice.

十五、Divisibility

If any provision of this Agreement is held to be unenforceable, invalid or illegal by any court of competent jurisdiction, it will not affect the validity of the remaining provisions of this Agreement.

十六、non-agency relationship

Nothing in this Agreement shall be deemed to create, imply or otherwise constitute us as your agent, trustee or other representative, except as otherwise provided in this Agreement.

十七、Abstain

The waiver by us or you of any party's liability for breach of contract or other liability stipulated in this Agreement shall not be deemed or interpreted as a waiver of other liability for breach of contract; the failure to exercise any right or remedy shall not in any way be construed as a waiver of such rights or remedies. of giving up.

十八、title

 All headings are for convenience of expression of the agreement only and are not used to expand or limit the content or scope of the terms of the agreement.

十九、Applicable law

The entire content of this Agreement is concluded in accordance with the laws of the Republic of Seychelles, and its establishment, interpretation, content and execution shall be governed by the relevant laws and regulations of the Republic of Seychelles; any claims or litigation arising out of the services agreed in this Agreement shall be shall be governed by and construed and enforced in accordance with the laws of the Republic of Seychelles.

For the avoidance of doubt, this clause expressly applies to any infringement claim made against us. The competent court or venue for any claim or proceeding against or relating to us shall be the Republic of Seychelles. You unconditionally acquire exclusive jurisdiction to conduct proceedings and appeals in the courts of the Republic of Seychelles. You also unconditionally agree that the place or court of any disputes or issues related to this Agreement or any claims and litigation arising therefrom shall be exclusively in the Republic of Seychelles. If there is a special agreement on the jurisdiction of other businesses on this website, the place or court shall be from there. Agreement. The principle of forum non conveniens shall not apply to the forum chosen under these Terms of Service.

二十、Effectiveness and interpretation of the agreement

• 20.1 This agreement takes effect when you click on the registration page of this website to agree to register, complete the registration process, and obtain an account and password for this website, and is binding on both this website and you.
• 20.2 The final interpretation right of this agreement belongs to this website.

 

Dear User:

(hereinafter referred to as "we") respect and protect the privacy of users (hereinafter referred to as "you" or "users"). When you use our exchange, we will collect and use your personal information in accordance with this privacy policy (hereinafter referred to as "this policy").

We recommend that you read and understand the entire content of this policy carefully before using this product (hereinafter referred to as the "exchange"). Important information including terms such as disclaimers will be reflected in bold. The definition of key words in this policy is consistent with our "Our Exchange Service Agreement".

This policy can be updated online by us at any time. Once the updated policy is published, it will replace the original policy. If you do not accept the revised terms, please stop using our exchange immediately. Your continued use of our exchange will be deemed to accept the revised policy. Once the revised policy is published on our exchange, it will automatically take effect immediately.

You are aware that this policy and other relevant regulations apply to our exchange and our self-owned DApps on our exchange.

一、 What information do we collect from you

Please be aware that we collect the following information from you for the purpose of meeting your service needs in our exchange, and we attach great importance to the protection of your privacy. When we collect your information, we will strictly abide by the principles of "legal, legitimate and necessary". And you know that if you do not provide the relevant information required for our services, your service experience in our exchange may be affected.

1.We will collect your mobile device information, operation records, transaction records, transaction address and other personal information.
2.To meet your specific service needs, we will collect your name, bank card number, mobile phone number, email address and other information.
3.You know: your account password, private key, mnemonic phrase, and Keystore on our exchange are not stored or synchronized to our server. We do not provide services to retrieve your account password, private key, mnemonic phrase, and Keystore.
4.In addition to the above, you know that when you use specific functions of our exchange, we will give you special reminders before collecting your personal information and ask you to collect more personal information from you. If you choose not to agree, it will be deemed that you have given up using this specific function of our exchange.
5.When you jump to a third-party DApp, the third-party DApp will collect personal information from you. Our exchange does not hold personal information collected from you by a third-party DApp.
6.To the extent permitted by laws and regulations, we may collect and use your personal information in the following circumstances without obtaining your authorization and consent:

 

         （1） Related to national security and national defense security;

（2） Related to public security, public health, and major public interests;

（3） Related to criminal investigation, prosecution, trial, and execution of judgments;

（4） The personal information collected is disclosed to the public by you on your own;

（5） Your personal information is collected from legally disclosed information, such as legal news reports, government information disclosure and other channels;

（6） Necessary for maintaining the security and compliance of services, such as discovering and handling product and service failures;

（7） Other circumstances specified by laws and regulations.

7.We collect information in the following ways:

（1） You provide us with information. For example, you fill in your name, mobile phone number or bank card number on the "Personal Center" page, or provide an email address when you report a problem, or you provide it to us in addition when using our specific services.

（2） We obtain information during your use of our exchange, including information about your mobile device and your operation records on our exchange;

（3） We copy all or part of your transaction records through the blockchain system. However, the transaction records shall be subject to the records of the blockchain system.

 二、 How we use your information

          1.We use the unique serial number of your mobile device to confirm the correspondence between you and your trading account.

          2.We will send you important notifications in a timely manner, such as software updates, service agreements and changes to the terms of this policy.

          3.We provide you with the "Fingerprint Login" option in the "System Settings" of our exchange, allowing you to manage your digital tokens more conveniently and securely.

          4.We process the feedback you submit to us by collecting your public account address and the mobile device information you provide.

          5.We collect your personal information for our internal audits, data analysis and research, etc., to continuously improve our service level.

          6.In accordance with the "Our Exchange Service Agreement" and our other relevant regulations, we will use user information to manage and process user usage behavior.

          7.Laws and regulations and requirements for cooperation with regulatory agencies.

三、 How you control your own information

You have the following autonomous control over your personal information in our exchange:

1.You know that you can modify the type of your digital tokens, transfer and receive money, etc. through the "Assets" section.

2.You are aware that you can freely choose to perform the following operations in the "Avatar" section of our exchange:

（1） In the "Personal Center", you do not need to provide your name, mobile phone number, bank card and other information, but when you use specific services, you need to provide the above information;

（2） In "Submit Feedback", you can always raise your questions and suggestions for improvement of our exchange to us, and we will be very happy to communicate with you and actively improve our services.

3.You are aware that when we collect information from you for a specific purpose, we will notify you in advance, and you have the right to choose to refuse. But at the same time, you are aware that when you choose to refuse to provide relevant information, it means that you give up the use of the relevant services of our exchange.

1. You are aware that you and we have no control over whether your transaction records are public, because based on the open source nature of the blockchain transaction system, your transaction records are open and transparent in the entire blockchain system.
2. You are aware that after you use the function of our exchange to jump to a third-party DApp, our "Our Exchange Service Agreement" and "Our Exchange Privacy Policy" will no longer apply. Regarding your control over your personal information on a third-party DApp, we recommend that you read and understand its privacy rules and relevant user service agreements in detail before using the third-party DApp.
3. You have the right to ask us to update, change, and delete your relevant information.
4. You are aware that we may collect your information in accordance with the requirements of Article 1, Paragraph 6 of this Policy without obtaining your authorization and consent.
   
   

四、 We may share or transfer your information

1. The user personal information we collect and generate will be stored on the server. If we really need to transfer your personal information to other countries outside the country, we will obtain your authorization in advance, and transfer cross-border data in accordance with the requirements of relevant laws, regulations and policies, and fulfill the obligation of confidentiality for your personal information.
2. Without your prior consent, we will not share or transfer your personal information to any third party, except in the following circumstances:

（1） Obtain your explicit consent or authorization in advance;

（2） The personal information collected is disclosed to the public by you;

（3） The personal information collected is collected from legally disclosed information, such as legal news reports, government information disclosure and other channels;

（4） When sharing with our affiliates, we will only share necessary user information and be subject to the purposes stated in this privacy clause;

（5） Provide in accordance with the requirements of applicable laws, regulations, legal procedures, administrative agencies or judicial agencies;

（6） In the case of mergers and acquisitions, if personal information transfer is involved, we will require the recipient of personal information to continue to be bound by this policy.

五、 How we protect your information

1.If we cease operations, we will promptly stop collecting your personal information, post a notice of cessation of operations on our exchange, and delete or anonymize your personal information within a reasonable period of time.

2.In order to protect your personal information, we will take data security technical measures, improve internal compliance, increase internal employee information security training, and set up security access permissions for relevant data to protect your privacy information, and are committed to using various security technologies and supporting management systems to minimize the risk of your information being leaked, damaged, misused, unauthorized access, unauthorized disclosure, and changed.

3.In addition, we will take other reasonable and necessary measures to protect your information. For example, in a technology development environment, only de-identified information is used for statistical analysis; when providing research reports to the outside, the information contained in the report is de-identified. We will store de-identified information separately from information that can be used to restore personal identification, to ensure that individuals are not re-identified in subsequent processing of de-identified information.

1. We have established a personal information protection responsibility department to conduct personal information security impact assessments on the collection, use, sharing, and entrusted processing of personal information. At the same time, we have established relevant internal control systems, and adopted the principle of minimum sufficient authorization for staff who may have access to your information; we systematically monitor the behavior of staff in handling your information, and continuously train staff on relevant laws and regulations, privacy and security guidelines, and strengthen security awareness.

2.We will send you messages about information security in the "Message Center" of our exchange, and update the account usage and information protection information in the "Help Center" section of our exchange from time to time for your reference.

Please be sure to keep your account password, Keystore and other identity elements on our exchange properly. When you use related services, our exchange will identify you through your login information and other identity elements. Once you leak the above information, you may suffer losses and it may be disadvantageous to you. If you find that your login information and other identity elements may or have been leaked, please contact us immediately so that we can take appropriate measures in time to avoid or reduce related losses.

六、 Protection of minors

We make the following special agreements to protect minors under the age of 18:

1. Minors should use our related services under the guidance of their parents or guardians.
2. We recommend that parents and guardians of minors should guide minors to use our exchange after reading this policy, "Our Exchange Service Agreement" and our other relevant rules.
3. Our exchange will protect the confidentiality and security of minors' personal information in accordance with the relevant national laws and regulations.
   
   

七、 Disclaimer

1. Please note that after you access a third-party DApp through our exchange, the privacy policy published by the third-party DApp will apply. The collection and use of your personal information by the third-party DApp is not controlled by us and is not subject to this policy. We cannot guarantee that the third-party DApp will take personal information protection measures in accordance with our requirements.
2. You should carefully select and use third-party DApps and properly protect your personal information. We are not responsible for the privacy protection of other third-party DApps.
3. We will take reasonable security measures to protect your personal information as much as possible under the current technical level to avoid information leakage, tampering or damage. We use wireless methods to transmit data, so we cannot ensure the privacy and security of data transmitted through wireless networks.
   
   

For matters not covered in this policy, you must comply with our announcements and relevant rules updated from time to time.

Please understand that the services provided to you by our exchange are constantly updated and developed. If you choose to use other services not covered in the above descriptions, and our exchange needs to collect your information based on the service, our exchange will explain the scope and purpose of information collection to you through page prompts, interactive processes, and agreement agreements, and obtain your consent. Our exchange will use, store, provide and protect your information in accordance with this policy and the corresponding user agreement; if you choose not to provide the above information, you may not be able to use a certain service or part of it, but it will not affect your use of other services provided by our exchange. In addition, third-party entities may provide services to you through our exchange. When you enter the service page operated by a third-party entity, please note that the relevant services are provided to you by the third-party entity. In case of a third-party entity collecting personal information from you, it is recommended that you carefully review the privacy policy or agreement of the third-party entity.

 

1. Description of encrypted digital currency

All cryptocurrencies that can be traded on platform, such as Bitcoin (BTC) and Ethereum (ETH), are not part of a country or other central bank issued legal tender (for example, the United States dollar (USD)). Neither value nor transfers may be guaranteed.

2. Digital cryptocurrency has great risks

The prices of digital cryptocurrencies fluctuate greatly, and 24 hours a day, real-time transactions are affected by multiple dimensions, including regulations in certain countries, technical issues, or related news. Such price changes can be huge, and even cryptocurrencies may go to zero in an instant.

3. Invest prudently

Since the digital cryptocurrency is still in the stage of rapid development, all investments have great risks, and the gains and losses brought about by investment decisions need to be fully borne by investors themselves. Therefore, it is necessary to carefully evaluate the consequences when deciding to invest, and be responsible responsible for the decision.

4. Safe investment and use of encrypted digital currency

Digital cryptocurrencies contain many features, please do not use cryptocurrencies to violate local laws and regulations in your country. Once reported, we will check your account and take relevant measures, such as restricting the use of services and rejecting suspected violations of account orders. We also need proof of identity and proof of transaction for security and authentication.

platform will not use a private account to ask you to provide personal information, such as your account information or password, and under no circumstances should you disclose, transfer, lend or share your personal information to others.

platform has built a secure exchange trusted by customers, and we will do our best to provide the most efficient and convenient experience for all users.

Introduction to the Welfare Center Business

1. What is the Welfare Center

The Welfare Center provides users with additional motivation to encourage them to use exchanges or other brand services more frequently to increase user stickiness and improve overall user satisfaction. By providing various activities, tasks and rewards, it can not only retain existing users, but also attract new users, making the entire Web3 ecosystem more prosperous.

2. Welfare Center - Cards and coupons

Currently there are 3 types of cards and coupons, namely experience funds, handling fee discounts/discounts and insurance funds, with different uses.

2.1 体验金

Currently, experience funds can be used for the following 2 modules: Contract experience funds and ternary options experience funds 。

Note: Experience funds cannot be withdrawn or used to offset withdrawal fees, while profits from transactions using experience funds can be withdrawn. Cards and coupons can be returned when unsuccessful transactions are cancelled, but cards and coupons cannot be returned when partial transactions are cancelled. Experience funds will be used before users' own funds.

2.1.1.1 Contract Experience Gold

Contract Experience Gold Coupon is a kind of experience gold used in contract trading scenarios. It can be used as trading margin but cannot be used independently. Before the user places an order, the system will match the available experience gold according to the margin entered by the user. Experience gold can be used for all opening orders in contract trading. If a loss occurs when closing a position, the experience gold will be deducted first to ensure the rights and interests of the user. Contract Experience Gold is a mandatory threshold coupon. The explanation of the threshold coupon is: it can be used when "opening margin ≥".

2.1.1.2 Three-yuan option experience gold

Three-yuan option experience gold coupon is a kind of experience gold used in three-yuan option trading scenarios. It can be used as the order amount but cannot be used independently to offset the transaction loss of transaction/funding fees (both buying and selling can be used). Three-yuan option experience gold is a mandatory threshold coupon. The explanation of the threshold coupon is: it can be used when "order amount ≥".

2.2 Handling fee deduction/discount

There are currently two types of handling fee deduction/discount: Spot handling fee deduction/discount, contract handling fee deduction/discount.

Through the fee deduction/discount coupon, you can get a deduction or discount on the handling fee in the transaction.

• Discount coupons: Fees are used for proportional discounts (fee reduction amount = accrued fees * discount ratio)
• Discount coupons: Fees are used for deduction at face value (fee reduction amount = Min{discount coupon amount, accrued fees})

Please note that when using fee deduction/discount coupons, all fee discounts or deductions are based on VIP fee discounts. Simply put, a discount is added to the original VIP fee discount.

2.2.1.1 Spot fee deduction coupons

Spot fee deduction coupons are a fee deduction coupon used in spot trading scenarios (both buying and selling) for direct deduction of fees. Spot fee deduction coupons are divided into threshold coupons and non-threshold coupons. Explanation of threshold coupons: They can be used when "transaction amount ≥".

2.2.1.2 Spot fee discount coupons

Spot fee discount coupons are a fee deduction coupon used in spot trading scenarios (both buying and selling) for discounts on fees. Spot handling fee discount coupons are divided into threshold coupons and non-threshold coupons. Explanation of threshold coupons: they can be used when the transaction amount is ≥.

2.2.1.3 Contract handling fee discount coupons

Contract handling fee discount coupons are a kind of handling fee discount coupons used in contract trading scenarios (market orders, limit orders and plan orders can be used for both calls and puts), which are used for direct deduction of handling fees. Spot handling fee discount coupons are divided into threshold coupons and non-threshold coupons. Explanation of threshold coupons: they can be used when the nominal value is ≥.

2.2.1.4 Contract handling fee discount coupons

Contract handling fee discount coupons are a kind of handling fee discount coupons used in contract trading scenarios (market orders, limit orders and plan orders can be used for both calls and puts), which are used for discounts on handling fees. Spot handling fee discount coupons are divided into threshold coupons and non-threshold coupons. Explanation of threshold coupons: they can be used when the nominal value is ≥.

2.3 Insurance

Insurance can be understood as a shield against losses. Currently, there is only contract insurance.

Contract insurance

Contract insurance is a type of insurance used in contract trading scenarios. When a user submits a request to close a position, take profit or stop loss, the system matches the available insurance coupons based on the position profit and loss. The coupons can offset the losses incurred when closing a position. Contract insurance is divided into threshold coupons and non-threshold coupons. Explanation of threshold coupons: It can be used when "loss ≥".

2.4 Differences between various cards and coupons

Scenario	Insurance	Handling fee offset/discount coupon	Experience bonus
Can it be used in contract scenario	Yes	Yes	Yes
Can it be used in spot scenario	No	Yes	No
Can it be used in ternary options scenario	No	No	Yes
Can it be selected when opening a position	No	Yes	Yes
Can it be selected when closing or reducing a position	Yes	Yes	No (Automatically deducted)
Is there a mandatory threshold restriction	No	No	Yes
Is the platform contract fiat currency fixed	Yes	Contract is	Yes
Can it be withdrawn and transferred on the monkey platform	No	No	No
Can it be used to offset the margin when the contract loses money	Yes	No	Yes

3. Welfare Center - Tasks & Activities

After completing tasks and participating in activities, users can receive and use rewards in My Rewards. The tasks and activities of the Welfare Center will be updated from time to time.

Currently, there are 7 tasks in the "My Tasks" module:

1. Spot trading volume
2. Contract trading volume
3. Deposit
4. KYC certification
5. Open all account security verification
6. Bind mobile phone number
7. Open mobile phone system notification.

In the "My Activities" module, there are conditional activities.

Users need to complete the task as soon as possible within the validity period of the activity/task to avoid expiration.

3.1 My Task Module Page (Example: Web)

3.1.1 My Task - Participation Entrance

On this page, click to participate. Note: Only by participating can you have the opportunity to receive rewards.

3.1.2 My Task - Completion Record Page

On this page, you can browse the tasks you have participated in and the rewards after completing the tasks.

3.2 My Activity Module Page (Example: Web)

3.2.1 Participation Path - Announcement

Enter the activity details page in the announcement list, and click to sign up in the details description.

3.2.2 Participation Path - Welfare Center - All Activities

In the list of all activities in the Welfare Center, you can also enter the activity details page, and click to sign up in the details description.

 

3.2.3 Activities I Participate in

Within the scope of the "frame" on this page, you can browse the activities I participate in.

3.3 My Reward Module Page (Example: Web)

After completing the task/activity, you can receive and use the deserved rewards on this page. Note: The issuance of cards and coupons is subject to platform review.

4. Welfare Usage Scenarios

Each task and activity has a specified time range, which can be viewed in the task or activity details. Each benefit also has its expiration date, which can be viewed in the welfare details page. Benefits need to be claimed and used within the validity period, and will not be usable after the expiration date. Therefore, it is recommended that you claim and use benefits as soon as possible.

Trading scenarios for benefit applications: contracts, spot, ternary/binary options. For specific cards and coupons that can be used in each scenario, you can browse "What are the differences between cards and coupons".

4.1 Initiate use in the benefit center (for example: Web)

In the benefit center-all cards and coupons, select a card and coupon and click to use it. Note: In the transaction, the system will prioritize matching the most suitable card and coupon according to the specific transaction amount 。

4.2 How to use in transactions (for example: Web)

On the premise that there are cards and coupons in the benefit center, during the transaction process, when entering a value, if there is a matching card and coupon, the system will automatically match the appropriate card and coupon, as shown in the position of number "1". Of course, you can also choose it yourself, as shown in the position of number "2".   Example: Contract transaction (as shown)

 Example: Contract transaction (as shown) Close a position, stop profit and stop loss.

4.3 Records after use (for example: Web)

Benefit center-all cards and coupons-used and expired

Click to view usage, and you can browse the usage of the card and coupon. Note: The card coupon has been used, but the order is still in progress, as shown in the position of the number "1" in the figure. Example: contract insurance.

5. Card coupon usage rules

• Card coupons are currently for one-time use, and when the card coupons are used, if there are any remaining platform will not be refunded.
• Card coupons generally have an expiration date (time period or start counting after collection), and can be collected and used within the validity period. Any unused experience money will be confiscated on the expiration date, and expired experience money will not be refunded.
• When using a card coupon, only one card coupon of the same type can be used (the system will automatically recommend a suitable coupon, and the selection can be changed manually).

 

6. Conclusion

• The welfare center provides an easy and convenient way for users to complete simple tasks and activities to earn multiple rewards and enjoy an excellent trading experience.
• Subsequent benefits of various brands and business scenarios may be fed back to new and old users in the welfare center in the form of tasks or activities.

What should I do if I can’t receive text messages?

 

Please first verify whether you click "Send Verification Code". You need to click the "Send Verification Code" button before the SMS will be triggered.

 

Of course, it may also be caused by the following reasons:

1.Mobile security software interception (applicable to smartphone users who have installed security software); 

Please open your mobile phone security software, temporarily turn off the interception function, and then try to obtain the verification code again

 

2.The SMS gateway is congested or abnormal.

When the SMS gateway is congested or abnormal, the sent SMS will be delayed or lost. It is recommended to contact the mobile phone operator to verify or try to obtain it again after a period of time.

 

3.The frequency of sending SMS verification is too fast (Note: SMS verification code is valid within 10 minutes)

This is caused by the frequency of sending SMS verification too quickly. It is recommended that you try the operation again after a period of time.

 

4.Other problems: Your mobile phone is in arrears; the mobile phone storage is full; the network in your environment is poor and other reasons may cause you to fail to receive the SMS verification code.

 

If you do not receive a system email from this platform after clicking "Send Verification Code":

1.It may be due to network delay. It is recommended that you wait and check your email again, because our registration verification code is valid within ten minutes;

2.Please check whether it is in the spam folder of your mailbox.

3.Please check whether the registered email address is the one where you receive emails.

4.Please note: If your email is a corporate email, there will be a series of security blocks that may block emails. It is recommended to use a personal email address.

5.Your mailbox storage is full. Because there is an upper limit for mailbox storage, you need to clear some emails, otherwise too many emails will not be sent.

Two-Way Position Mode

In the two-way position mode, the same contract can hold long and short positions at the same time, and the risks of positions in different directions under the same contract are hedged.

 

One-Way Position Mode

In the one-way position mode, the same contract can only hold positions in one direction.

In the one-way position mode, you can choose the type of order that only reduces the position, that is, the order will only reduce the position holding volume, but will not increase the position holding volume, to avoid opening a reverse position.

 

For example:

1、The user's BTC/USDT perpetual contract uses the two-way position mode, successfully buys 10 long positions, and then successfully sells 20 short positions. At this time, the user's BTC/USDT perpetual contract holds 10 long positions and 20 short positions.

2、The user's BTC/USDT perpetual contract uses the one-way position mode, successfully buys 10, and then does not choose the order that only reduces the position, and then sets a sell of 20. When the sell order is executed, it will help the user close 10 long positions, and then open 10 short orders in the opposite direction. At this time, the user's BTC/USDT perpetual contract holds 10 short positions.

3、If the user uses the one-way holding mode for BTC/USDT perpetual contracts, successfully buys 10 contracts, then selects a position reduction order, and then sets a sell order for 10 contracts, then when the sell order is executed, the user will be helped to close 10 long orders. At this time, the user's BTC/USDT perpetual contract has no position.

 

Note:

1、In the position-by-position mode, the position mode of each product is set independently and does not affect each other. If there is no position or pending order under the same product contract, the position mode can be switched; in the full position mode, all products share the position mode. If there is no position or pending order under all product contracts, the position mode can be switched.

2、Only the one-way holding mode supports position reduction orders. When using position reduction orders, the order quantity must be ≤ the amount that can be closed.

1、What is margin rate?

Margin rate is an indicator of the safety of the position. The higher the margin rate, the safer the position.

Single-position mode: margin rate = (fixed margin + unrealized profit and loss) / position value

Full-position mode: margin rate = (balance + realized profit and loss + unrealized profit and loss) / (position value + pending order frozen margin * leverage multiple)

Position value = par value * number of contracts / latest mark price

 

2、What is position reduction, forced liquidation (forced liquidation)?

Under the full-position margin system, when the user's position changes in the opposite direction of the latest transaction price, when the margin rate is less than or equal to the maintenance margin rate + liquidation fee rate, it will trigger a position reduction or liquidation.

Under the single-position margin system, when the user's position changes in the opposite direction of the latest transaction price, when the user's position margin rate is less than or equal to the maintenance margin rate + liquidation fee rate, it will trigger a position reduction or liquidation.

When the user's position is at level 3 or above, if the margin rate of the position is lower than the maintenance margin rate + liquidation fee rate required for the current level, but still higher than the maintenance margin rate + liquidation fee rate of the lowest level, the user's entire position will not be directly liquidated. The system will calculate the number of positions required to reduce the position by two levels and perform partial liquidation. After the level is successfully reduced, if the margin rate meets the maintenance margin rate requirements of the new level, the partial liquidation will stop; if it still does not meet the maintenance margin rate requirements of the new level, the partial liquidation process will continue to cycle.

When the user's position is at level 2 or below, and the margin rate is lower than the maintenance margin rate + liquidation fee rate required for this level; or when the user's position is at level 3 or above, but the margin rate is lower than the maintenance margin rate + liquidation fee rate required for level 1, the system will directly entrust all the contracts under the contract (full position)/ the position (per position) to the liquidation engine at the bankruptcy price (the price of zero margin rate).

This early forced liquidation mechanism is mainly to avoid the adverse effects caused by the violent fluctuations of digital currencies, such as serial forced liquidations and liquidation (positions cannot be traded after forced liquidation).

After the forced liquidation is triggered, the forced liquidation engine will forcibly take over the liquidated position. At this time, the user's forced liquidation loss is equivalent to the loss of the position margin rate to 0, and the maximum loss does not exceed the total margin of the liquidated position.

 

Contract trading
Contract trading is a financial derivative. Simply put, it is an agreement to trade a certain amount of a certain commodity at a certain time in the future. Investors choose to buy or sell contracts based on market fluctuations, thereby obtaining profits from price increases or decreases.

 

Virtual asset contract trading
Virtual asset contract trading itself is very flexible. As long as there is price fluctuation, there is room for profit. Contracts can also use leverage to amplify profits, and can carry out various types of combined trading operations such as arbitrage and hedging.

What is cryptocurrency futures trading?

A cryptocurrency futures contract is a contract that represents the value of a specific cryptocurrency. When you buy a futures contract, you do not own the underlying cryptocurrency. What you own is a contract that represents your agreement to buy or sell a specific cryptocurrency at a certain time in the future.

 

What is spot cryptocurrency trading?

In the spot market, you buy and sell cryptocurrencies such as Bitcoin and Ethereum in real-time delivery. In other words, cryptocurrencies are transferred directly between market participants (buyers and sellers). In the spot market, you own the cryptocurrency directly and have the right to receive financial benefits, such as voting for major forks or participating in staking.

 

What is the difference between spot cryptocurrency trading and futures cryptocurrency trading?

Leverage  

Leverage makes futures trading extremely capital-efficient. With futures contracts, you only need to invest a small fraction of the market value of 1BTC to open a futures position of 1 BTC. In contrast, spot trading does not offer leverage. For example, to buy 1 BTC in the spot market, you need to prepare tens of thousands of US dollars. In this scenario, assuming you only have 10,000 USDT available, you can only buy 10,000 USDT worth of Bitcoin.

Flexible choice of long or short positions

If you hold cryptocurrencies in the spot market, you can profit from the appreciation of your principal as your cryptocurrencies increase over time. In contrast, using futures contracts allows you to profit from short-term price fluctuations, whether the price goes up or down. Even if the price of Bitcoin falls, you can predict the decline and profit if the price continues to fall. Futures contracts can also be used to hedge against risks and extreme price fluctuations, making them an ideal option for miners and long-term investors.

 

Liquidity

The cryptocurrency futures market has a monthly trading volume of trillions of dollars, providing excellent liquidity. For example, the average monthly trading volume of the Bitcoin futures market is 2 trillion US dollars, which exceeds the trading volume of the Bitcoin spot market. Its strong liquidity promotes price discovery and allows traders to trade in the market quickly and efficiently.

Contract vs. Spot Price

Cryptocurrency prices are determined by buyers and sellers through the economic process of supply and demand. The spot price is the current price for all transactions in the spot market. On the other hand, the contract price is based on the spot price at that time plus the contract premium. The contract premium can be positive or negative. A positive premium means the contract price is higher than the spot price; conversely, a negative premium means the contract price is lower than the spot price. Changes in supply and demand may cause the contract premium to fluctuate.