You can buy 24 hour contracts at TowerX.co.
The option to buy contracts will be active from 05 May 2019.
We are delighted to introduce our latest feature on our exchange TowerX.co
The 24 hour futures for ETH have been launched on TowerX. The process to buy contracts is given below.
Brief overview: All contracts have the validity period of 24 hours. You can purchase either UP contracts or DOWN contracts or both.
UP: Buy this type of contract if you think that price of ETH will rise during next 24 hours.
DOWN: Buy this type of contract if you think that price of ETH will fall during next 24 hours.
Up to 20X Leverage: You can purchase contracts by using leverage up to 20X.
5% Stop Loss: All contracts have a stop loss of 5%. So, your maximum loss is 5% of the invested amount if you do not use any leverage. In case you are using the leverage, the stop loss also increases proportionately. For example, with 5X leverage the stop loss is 25%.
Transparent Contracts: To make the process transparent, the number of contracts on both sides (i.e. UP and DOWN) will be equal. Lets say, there are 5000 UP contracts and 7000 DOWN contracts, then in this case, 2000 DOWN contracts will be removed and 100% amount will be refunded back to the users. So effectively, there will be now 5000 UP and 5000 DOWN contracts.
LOW FEES: There are no fees in case you make a loss. When you make a profit, you are charged a fee as per below schedule on the amount of profit and NOT on the total amount.
0.20% FEE if paying fee in TBE
1.00% FEE if paying fee in ETH
You are charged a fee on the amount of profit and NOT on the total amount invested.
Buying Contracts
There are 2 important phases in the entire process.
The first phase runs for 24 hours and this is the phase where you can buy contracts. You have the option to cancel your purchased contracts before the first phase ends.
The second phase also runs for 24 hours. When the first phase ends, the second phase starts immediately. You can not cancel your contracts in the second phase. The price of ETH is captured at the start of second phase and exactly after 24 hours, the price is again captured to decide whether the price of ETH has gone UP or DOWN.
Join our Telegram group for instant updates
Telegram:
Published at Wed, 01 May 2019 16:28:07 +0000