Coinbase launches futures trading for oil and gold

Gold and oil futures contracts will now be available for trade on Coinbase. Whatever Coinbase Derivatives has said about this new product, it will be accessible as of June 3.

Coinbase, a prominent US-based cryptocurrency exchange, has announced that, while maintaining crypto derivatives as its core competency, expanding its trading opportunities to include oil and gold futures is a significant step forward.

Making these securities accessible to less funded investors, these new contracts are particularly specific for retail traders.

It is intriguing to see how conventional financial markets and digital ones are coming together with the introduction of criptovalute-based futures on commodities like oil and gold.

After launching futures on dogecoin, bitcoin, ether, bitcoin cash, and litecoin, CFTC-regulated Coinbase quickly became a dominant participant in the cryptocurrency derivatives market.

Gold and oil contracts are the latest additions to Coinbase’s platform, which shows that the company is actively working to include more conventional trading assets in its offerings.

Investors in retail commodities may now diversify their holdings and profit from price swings in gold and oil via new futures contracts, eliminating the need to physically own the items.

Futures trading may attract more participants as a result of this change, including traders who may not have previously thought of cryptocurrency as an investment choice.

In fact, it seems that crypto traders aren’t often acquainted with commodities markets, but Coinbase’s futures contracts on oil and gold might help them break in.

A more connected and dynamic trading environment may be the result of more contact between the cryptocurrency and commodities markets brought about by this new extension of functionality.

Also Read: Donald Trump Takes Crypto Donations Through Coinbase’s Ecommerce Platform