CEO WhiteBIT Volodymyr Nosov introduces Futures Trading on WhiteBIT cryptocurrency exchange

In general, a futures contract or just futures is a legal agreement to buy or sell something by a certain time and price conditions in the future. It sounds pretty simple, but it’s still not enough to figure out how futures trading works, and, most importantly, why it is popular in the crypto financial world.

With a Kharkiv-based crypto company, WhiteBIT, we are here to answer your questions and break down the barrier of misunderstanding complex financial matters, as they may seem at first sight. So, we decided to get more info about futures trading from the WhiteBIT companyʼs Chief Executive Officer Volodymyr Nosov, who knows about futures firsthand. Once being born in Kharkiv, the company first became competitive in Ukraine, and then throughout the world. Keep reading to learn everything you need to know about crypto futures from a true pro.

What is crypto futures trading, and why is it needed?

“Futures trading in a crypto environment is not much different from regular futures, although there are some slight differences between them. These are all the same contracts, designed for future execution, but dancing around digital assets,” – Nosov says.

Volodymyr adds that crypto futures can play according to all the rules of regular futures contracts. But also, they can be perpetual, that means not tied to a specific time, which is one of the rare differences.

“As to its popularity, futures can be used as a trading tool to hedge risks. This is an opportunity to avoid negative price changes and extreme digital asset volatility. It is an effective tool for managing risks in unstable financial situations, like the one we observe in Ukraine today. You also donʼt need to own crypto to have futures on it and get your profit from trading.

Just sell high and buy low to profit from the price difference. Is this enough? To some extent, yes, but in practice, crypto futures are more complicated and have their own nuances. When trading futures, you still need to be aware of the risks associated with market volatility and incorrect trading strategy. Remember that it’s about managing risks, not about their absence,” – Volodymyr Nosov finishes making this point, so we can move to the next one.

What about futures trading work on WhiteBIT?

“Crypto futures are similar to the current mechanics of margin trading on the WhiteBIT exchange: you can open long and short positions and use leverage. What is different, users pay a fee for using borrowed funds not to the exchange, but to each other,” – Volodymyr Nosov explains.

So, how to buy and sell futures contracts on WhiteBIT?

“It is extremely simple to trade futures on the WhiteBIT crypto platform. Buying it, you need just:

• to click the Futures section in the upper menu of the exchange;
• choose the Buy tab;
• choose the order type, the amount of crypto you want to buy, and the leverage;
• click “Buy”.

Selling futures, it all just needs to switch to the Sell tab and choose the same order settings,” – Volodymyr Nosov adds about some exchange features, then we change the topic.

What are the prospects for WhiteBIT users?

“Futures trading is an amazing opportunity for financial development, which is why the company is pushing this concept to the masses. We are one of the few exchanges in the whole world, not to mention Ukraine and our native city, Kharkiv, to integrate futures trading today,” – Volodymyr Nosov continues after a second, – “although this is, at first glance, a complex tool, we have done everything possible for a comfortable start even for beginners. WhiteBIT has the lowest commissions, trading tournaments with prizes and tutorials. So, both new and experienced traders can expand their trading horizons on our exchange,” – Nosov enthusiastically finishes the thought, moving on to the features of the WhiteBIT crypto exchange.

Why WhiteBIT?

“Futures trading is popular on our platform for several attractive reasons:

• on WhiteBIT, fees are lower than on the spot market;
• you can trade futures with up to 20x leverage and boost your earnings using less of your own funds;
• you can hedge the risks by opening short positions on acquired digital assets;
• through futures trading, crypto can bring you profit in a bear market or small price fluctuations.

In addition, we try to financially educate users in a variety of interactive ways both in Ukraine and in the foreign segments, creating comfortable conditions for crypto newbies,” – he makes it completely clear. This concludes our conversation with the CEO of the WhiteBIT company, Volodymyr Nosov.

Pick your futures present

Let’s thank Volodymyr Nosov for a meaningful dialogue, which allowed us to briefly look into the depths of futures trading and, in particular, into the specifics of his brainchild, from the Ukrainian city of Kharkiv to the world market, the WhiteBIT company.

Now, it’s up to you to choose the best cryptocurrency exchange for your financial needs and rock your funds with futures trading.