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Coinbase Gearing Up To Roll Out New Feature Allowing Users To Trade Altcoins Before Launch

Coinbase Gearing Up To Roll Out New Feature Allowing Users To Trade Altcoins Before Launch
Coinbase is gearing up to roll out a new feature that will allow users to trade new crypto tokens before they launch.
The Coinbase International Exchange and Coinbase Advanced will enable traders in eligible jurisdictions outside of the US, the UK and Canada to buy perpetual futures contracts for assets that haven’t been listed on spot exchanges yet.

When the underlying asset for a pre-launch perpetual futures contract actually receives an exchange listing, the contract converts to a standard perpetual contract.
Coinbase says the upcoming feature will enable traders to “participate in price discovery,” though the exchange warns that pre-launch markets carry elevated risks.
“Given the high-risk nature of pre-launch markets, these markets are more prone to lower liquidity, higher volatility and increased liquidation risk. Please note that positions for pre-launch markets will not be assigned to participants of our Liquidity Support Program (LSP). As such, these markets will be at higher risk of Auto-Deleveraging compared to standard perpetual futures.”
Coinbase Advanced is the exchange’s advanced trading platform and will offer pre-launch markets for retail traders, while the Coinbase International Exchange will offer the instruments for eligible institutional users.
The pre-launch perpetual futures contracts will have funding rates that use the same formula as standard perpetual futures, according to Coinbase.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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