• Kraken has recently launched Kraken Perps and is giving traders 24/7 access to perpetual contracts, allowing them to speculate on crypto prices without owning the actual tokens.
• The exchange added other safety measures like stop-loss orders and collateral options to help reduce risks.

Every day in the crypto space, there are new records of the major exchanges making new listings, updating systems, and adding and removing various crypto-related services to further better customer service and generally improve the crypto space for newbies and old investors alike.

Today, Kraken has moved a step forward and made available a new app called Kraken Perps, and according to the details shared, the app is set out to create an opportunity for traders to predict crypto prices and potentially benefit from doing so.

What are perpetual contracts, and what is Kraken hoping to achieve?

Perpetual contracts, also called perps, are very different from regular futures. In cryptocurrency, they are a form of “agreement” that allows traders to speculate on the future price of an asset without any expiration date.

Unlike the standard and traditional futures that set an end for the expiration of an asset, perps have no expiration date. The rule for crypto perps remains that as long as the margin is maintained, traders can keep their positions open. To take part, they need to provide enough liquidity and meet the IP with margin rules.

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For crypto futures perp, BitMEX first introduced it in 2016, and since then, perps have become a core part of crypto derivatives trading. In fact, over the years, perp trading had blended well with the crypto market, as the market runs non-stop and is more volatile than traditional finance.

With Kraken’s new product, users would be able to take a long position if they expect a price increase or a short position if they expect the price of an asset to drop.

Another interesting thing about crypto perps and Kraken’s new introduction is that the traders do not necessarily need to own the actual cryptocurrency. In this way, trading becomes easier for those who do not want to directly buy tokens. For Kraken, positions can be backed by Kraken USD balances, with more collateral choices planned. Kraken has also added other protective features to reduce traders’ risks.

For instance, stop-loss orders would help traders exit quickly if the market moves sharply against them. One of the spokespersons for the exchange explained that the aim is to give everyday users access to perpetuals while limiting unexpected losses through built-in safeguards.

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