Which crypto exchanges allow futures trading for USA clients?

[Pipdips]

Which crypto exchanges allow futures trading for USA clients?

[1713304971]

1713304971

[1713304971]

1713304971

[1713304971]

1713304971

[BitHodler]

I have seen quite a few users move from BitMEX to Bybit and people seem to like it. It allows you to use the platform even with other crypto currencies where BitMEX derivatives are strictly settled in Bitcoin.

The problem is that people assume that Bybit is safe from potential regulatory intervention, but it really isn't. It's only a matter of time before Bybit is going to exclude US residents. Most competent platforms follow that path.

If you end up creating an account, make sure you read their TOS (I know it's boring but it's very important) to make sure you don't get surprised by any of their policies that might affect you negatively.

[ePesoInitiative]

If you could wait a few more days longer, in the United States, Bakkt will launch its platform where most in America will probably do some futures trading.
https://www.coindesk.com/bakkt-says-its-cleared-to-launch-bitcoin-futures-next-month

[leowonderful]

I have seen quite a few users move from BitMEX to Bybit and people seem to like it. It allows you to use the platform even with other crypto currencies where BitMEX derivatives are strictly settled in Bitcoin.

The problem is that people assume that Bybit is safe from potential regulatory intervention, but it really isn't. It's only a matter of time before Bybit is going to exclude US residents. Most competent platforms follow that path.

If you end up creating an account, make sure you read their TOS (I know it's boring but it's very important) to make sure you don't get surprised by any of their policies that might affect you negatively.

Bybit also restricts people from registering and trading on their platform if the site detects that your IP is in the United States. Their list of restricted locations is extremely similar to that of Bitmex's, and they also say in their FAQ that the site reserves the right to close the positions of people detected to be trading from one of the following jurisdictions:

Base on Bybit's <Terms of Service> 2.10 i) :

i) that if you are located in or a resident of the United States of America or Québec (Canada) , Singapore, Cuba, Crimea, Sevastopol, Iran, Syria, North Korea, Sudan, or any other jurisdiction where the Services offered by Bybit are restricted, you also understand and acknowledge that you are prohibited from holding positions or entering into contracts at Bybit.


You understand and acknowledge that if it is determined that any Bybit trading participant has given false representations as to their location or place of residence, Bybit reserves the right to close any of their accounts immediately and to liquidate any open positions.

[Pipdips]

If you could wait a few more days longer, in the United States, Bakkt will launch its platform where most in America will probably do some futures trading.
https://www.coindesk.com/bakkt-says-its-cleared-to-launch-bitcoin-futures-next-month

I will try this.

Bakkt will make Binance look like a tinker toy...

[1Referee]

Bakkt will make Binance look like a tinker toy...

How? Both platforms are different fundamentally. Binance will offer futures trading at one point, but they aren't going to be offered to US traders. In other words, both platforms don't compete with each others for market share.

Also, Bakkt futures have a 1BTC minimum settlement. Most people don't have that much money to throw on the table in order to acquire 1BTC. Binance's futures will have a much lower (very likely sub 0.01BTC) minimum settlement and much higher leverage. For the majority of the retailers, Binance will be attracting a whole lot more users with that product.

[BitHodler]

~snip~

Very interesting, thanks for pointing that out.

Do you know when they started blocking US residents? I recall youtubers shilling Bybit not that long ago referring to it as an alternative to BitMEX for US residents. That clearly no longer applies according to Bybit's TOS.

I wonder if it has anything to do with BitMEX's CFTC probe, which would make sense considering how similar they are to BitMEX as a platform. Bad news for BitMEX would directly mean bad news for Bybit and other platforms.

[Pipdips]

As for BitMex, I never applied for an account with them but on their front page there is an announcement in hot pink that says


"ATTENTION - IMPORTANT NOTICE

In accordance with our Terms of Service:

Persons that are located in or a resident of the United States of America or Québec (Canada) are prohibited from holding positions or entering into contracts at BitMEX.
Persons that are located in or a resident of Cuba, Crimea and Sevastopol, Iran, Syria, North Korea and Sudan, or any other jurisdiction where the services offered by BitMEX are restricted, are prohibited from holding positions or entering into contracts at BitMEX.
BitMEX reserves the right to immediately close the accounts and to liquidate the open positions of persons determined to have breached our Terms of Service."


So that pretty much rules out USA clients.

[lixer]

If you could wait a few more days longer, in the United States, Bakkt will launch its platform where most in America will probably do some futures trading.
https://www.coindesk.com/bakkt-says-its-cleared-to-launch-bitcoin-futures-next-month

I will try this.

Bakkt will make Binance look like a tinker toy...

Seems that you forgot binance is a strategist company, and I am sure by now that before bakkt launched, they will surely still come up with an idea that may supersede that of the bakkt and make the hype of bakkt that I have seen everywhere lately die down, and moreover, I am still trying to really see the effect of this bakkt futures in the price of bitcoin, still trying to finding a way to link them both and I have not seen. 

We like to create unnecessary hype, and this is what usually lead to a whole lot of disappointment in future, if the bakkt was going to have effect, by now, bitcoin ought to have paused its dumping and then investors trying to buy more coins ahead of the launch, but I have not seen much think happening that I can link to this news about bakkt.

[Pipdips]

BAKKT is backed up by the biggest banks in the world, and the biggest stock exchanges in the world.

What is BINANCE backed up by?  Themselves?  Bitcoin?  1's and 0's?  "Fantom"?  haha.. that name, Fantom sounds childish and untrustworthy by nature.  I mean really, their company controls BILLIONS of dollars, daily.  Also Binance is not exactly winning over the hearts of many USA trading clients anymore, come September... By the way, I admire Binance a lot but I am still going to tell it like it is.

[exstasie]

BAKKT is backed up by the biggest banks in the world, and the biggest stock exchanges in the world.

What is BINANCE backed up by?  Themselves?  Bitcoin?  1's and 0's?  "Fantom"?  haha.. that name, Fantom sounds childish and untrustworthy by nature.  I mean really, their company controls BILLIONS of dollars, daily.  Also Binance is not exactly winning over the hearts of many USA trading clients anymore, come September... By the way, I admire Binance a lot but I am still going to tell it like it is.

CBOE was a major player too, but their Bitcoin product quickly fizzled out and they left the market. Not saying that'll happen to Bakkt necessarily, but their success hinges on deep pocketed institutional interest.

Binance, Bitmex and similar loosely regulated grey market exchanges will continue to thrive on retail traders and lower tier trading operations. But if they ever start enforcing mandatory KYC, we'll see how much interest is left.

[papashark]

But Bakkt’s minimum deposit is 1 BTC and their services are not gonna be cheap in comparison to MEX, in addition to mandatory KYC and AML surveillance. The structure of their product is quite different from all the offshore exchanges out there. More like CBOE. https://www.theice.com/products/72035483/Bakkt-Bitcoin-USD-Daily-Futures-Contact

A few days back there was a dude who had no problem trading on BaseFEX so far. He also tried Bybit and Deribit. https://bitcointalk.org/index.php?topic=5175976.0

It doesn’t seem like these 3 are actively blocking US IPs.

[Pipdips]

Binance, Bitmex and similar loosely regulated grey market exchanges will continue to thrive on retail traders and lower tier trading operations. But if they ever start enforcing mandatory KYC, we'll see how much interest is left.

I like that description "grey market". I hope Binance keeps running a great exchange but I have always felt it was younger or even immature in some ways. I'd like to see Binance more "mature" in some ways. The CEO, CZ, is quite young in days, but I admire his work a lot. He may be one of my favorite figures in the crypto world today but I still have tons of constructive criticism for their company.

They read all these posts by us and they implement a lot of our suggestions.

But Bakkt’s minimum deposit is 1 BTC and their services are not gonna be cheap in comparison to MEX

I like that 1 BTC minimum.  Some of the smartest finance people in the world could be working under Bakkt.  Do you think Bakkt will possibly also have other services with minimums of 100, 1,000 or even 10,000 BTC?

[leowonderful]

~snip~

Very interesting, thanks for pointing that out.

Do you know when they started blocking US residents? I recall youtubers shilling Bybit not that long ago referring to it as an alternative to BitMEX for US residents. That clearly no longer applies according to Bybit's TOS.

I wonder if it has anything to do with BitMEX's CFTC probe, which would make sense considering how similar they are to BitMEX as a platform. Bad news for BitMEX would directly mean bad news for Bybit and other platforms.

Not entirely sure when they stopped allowing US traders to register, but I recall trying to register on their site before the CFTC probe on BitMEX from a U.S IP a while back and the site also blocked me from registering based on my IP address. I assume their policies for what to do with user accounts once they're detected to be trading from a U.S IP is also very similar to BitMEX's considering the similarities between the two sites' terms on the matter.

[Arkann]

I think everyone knows such trading exchanges that accept futures for trading, such as fumgo.com. But almost all cryptocurrency users are waiting for the end of September to wait Bakkt, which promises to start trading in live bitcoin futures.