Bitcoin [BTC]: Perpetual futures with 100x leverage on offer as Bithumb goes global

Bitcoin, the largest cryptocurrency in the world, is currently seeing one of its biggest rallies since 2017 after the king coin broke multiple resistances over a month. On May 14, the coin breached the $8,000-mark and it has since continued its gradual bull run. According to the long-term charts of Bitcoin, if the $8,300 resistance level is conquered, the next stop for Bitcoin’s prices would be over the $9,400 level.

The bullish move of the cryptocurrency has benefited not just long-term supporters and investors of the king coin, but also exchanges. Therefore, it comes as no surprise that exchanges are trying to cash in on the rally by adding support to new features and options associated with Bitcoin. The latest to join the bandwagon is Bithumb, the South-Korean crypto-asset exchange.

On May 14, the exchange announced that it was going international and launched Bithumb Global, a global exchange service. The service integrates multiple fiat currency trading pairs and offers perpetual futures trading, with up to 100x leverage. This is significant as the exchange also offers Bitcoin perpetual futures trading, which if used efficiently, can help investors rack up money while also making the exchange a significant amount of money.

However, Bithumb Global is currently in its test beta phase and only allows users to trade with test money. Once the service goes live, all features will be made accessible to registered users. As part of a promotional offer, users can also earn up to $90 by completing registration [using KYC] and indulging in perpetual trading. Active users will also be considered for airdrop events.

Speaking about the new launch, an official from Bithumb was cited saying,

“We are expanding into U.K., Canada, Australia, Japan, Hong Kong and 10 additional jurisdictions. Our service will include cryptocurrency exchanges, security token offerings, blockchain based project incubation, and ultimately culminating into a technology driven tech-fin, financial service institution.”

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