CoinEx has introduced a new feature called Pre-Token Trading, aimed at giving users a head start in the ever-evolving cryptocurrency market.
This move marks a strategic enhancement in how traders can engage with new tokens. It allows users to participate before official releases or major market events.
The Pre-Token Trading feature enables users to pre-mint “PreTokens” by staking USDT, which can then be traded in the spot market. This approach offers users an early entry point, potentially capitalizing on anticipated market trends or upcoming token launches.
It also provides a new way to engage with events like elections, where users can stake USDT to mint speculative tokens, such as “PRE_TRUMP,” and trade them before results are announced.
The process involves three main stages: pre-minting, where users stake USDT to generate PreTokens; trading or holding, where they can either trade their PreTokens in the market or hold them; and delivery, where final settlement occurs through CoinEx Delivery.
This structured setup aims to clarify roles for pre-minters and holders, ensuring a smoother experience.
CoinEx has also detailed the fee structure for this new feature. Pre-minting is free, while spot market trading incurs standard rates, with discounts for VIP members.
Redeeming PreTokens costs 2% based on the latest market price, and a 1% fee applies to the delivery process for both pre-minters and holders.
While the Pre-Token Trading feature opens up fresh investment opportunities, CoinEx acknowledges the risks involved.
High volatility, potential liquidity constraints, and susceptibility to market manipulation are all considerations users must be aware of. Nevertheless, the company emphasizes that robust risk management strategies are in place, reflecting its commitment to user protection.
With this launch, CoinEx is providing new avenues for traders to engage with emerging digital assets.
Read Also: Bitcoin Regains $68,500 Amid U.S. Election Uncertainty, But Volatility Looms
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