Introduction:
The world of cryptocurrency trading is constantly evolving, with innovations that aim to simplify the trading process while enhancing user experience. At Pi42, we’re excited to announce a significant development that promises to blend the familiarity and stability of the Indian Rupee (INR) with the global appeal of USDT (Tether) markets. This new feature allows our users to trade in Crypto-USDT futures pairs, leveraging INR as the margin currency.
Why Trade in Crypto-USDT Futures with INR Margin?
Crypto-USDT futures have become a staple in the global cryptocurrency market due to their straightforward pricing in USDT, which aligns with international market standards. By introducing USDT futures paired with INR margining, Pi42 offers a unique proposition. Traders can now engage with global crypto assets without the added complexity of managing stable coins (USDT / USDC etc) for margin requirements. This integration allows for a seamless transition between INR and USDT, ensuring traders can focus on what really matters: their trading strategies and market movements.
How It Works:
- Notional Quotation & Margining in USDT: All USDT-Market perpetual futures contracts listed on Pi42 are quoted and margined in USDT. However, the conversion between USDT and INR for margin calculation is fixed at a predetermined rate on our platform – say 1 USDT = 88 INR. (Please note, that this exchange rate will not change frequently, but will be reviewed and updated periodically)
This rate simplifies calculations and shields our users from the volatility typically associated with USDT-INR exchange rates.
What does it mean?
Notional Quotation: This means the value of the USDT-Market perpetual futures contracts is quoted based on a nominal value in USDT, which is used as a reference for pricing and trading purposes.
Margining in USDT: This indicates that the margin (collateral) required to trade these futures contracts is calculated in USDT.
- Deposits: Users continue to deposit funds in INR. This is used as margin for both USDT and INR market pairs. For the USDT Market,these funds are notionally reflected into USDT at a fixed rate. For example, a deposit of INR 15,000 will reflect as 176.47 USDT in the user’s account, ready to be used for trading on the platform.
Note: Please note that your funds are at no point of time converted into USDT. It is notionally reflected for ease of trading. - Withdrawals: When it comes to withdrawals, while the account balances may reflect both USDT and INR (on USDT and INR market contracts respectively), withdrawals are processed exclusively in INR. This ensures that the funds are directly transferable to and from the user’s Indian bank account, maintaining compliance with local regulations and simplifying the withdrawal process.
Example: A user places a Long order of 1 BTC on the BTC-USDT perpetual futures contract on Pi42
The margin required is calculated in terms of INR and is locked from his INR wallet
(There is no need to convert your INR to USDT to start the trade)
The user is monitoring his position, the pricing of BTC is happening in USDT , so the user can analyse the price movements and compare it with global standards
When the user closes the position, the settlement is also happening directy in INR (so there is no need to convert your USDT earnings into INR to be able to withdraw your money in bank, saving you 1% TDS as well)
Benefits of Trading in USDT Markets on Pi42:
- Stability Against Rate Fluctuations: By fixing the USDT-INR rate, Pi42 users are insulated from the frequent ups and downs in the crypto-exchange rates, providing a more stable trading environment.
- Simplified Currency Management: Users no longer need to juggle multiple currencies. By using INR for both margin and settlements, the complexities associated with currency exchange are significantly reduced.
- Enhanced Trading Experience: The familiar setting of INR combined with the global standard of USDT markets means that both novice and experienced traders can navigate the platform with ease, focusing on their trading strategies without worrying about currency conversions.
Enjoy the Lowest-ever Fees:
| 30-Day Trading Volume | USDT Futures | |||||
| VIP-Tier | INR | USD | Taker Fee | Discounted Taker Fee | Maker Fee | Discounted Maker Fee |
| VIP 0/ Regular | Up to 5CR | Up to 568K | 0.060% | 0.050% | 0.0200% | 0.0180% |
| VIP 1 | 5CR – 20CR | 568K – 2.3M | 0.055% | 0.045% | 0.0190% | 0.0170% |
| VIP 2 | 20CR – 50CR | 2.3M – 5.7M | 0.051% | 0.041% | 0.0180% | 0.0160% |
| VIP 3 | 50CR – 100CR | 5.7M – 11.4M | 0.047% | 0.037% | 0.0170% | 0.0150% |
| VIP 4 | 100CR – 500CR | 11.4M to 56.8M | 0.043% | 0.033% | 0.0150% | 0.0135% |
| VIP 5 | 500CR – 1000CR | 56.8M to 113.6M | 0.038% | 0.030% | 0.0120% | 0.0100% |
| VIP 6 | 1000CR – 5000CR | 113.6M to 568M | 0.035% | 0.026% | 0.0100% | 0.0080% |
| VIP 7 | 5000CR – 10000CR | 568M to 1136M | 0.032% | 0.022% | 0.0075% | 0.0065% |
| VIP 8 | Above 10000Cr | Above 1136M | 0.029% | 0.019% | 0.0065% | 0.0055% |
Conclusion:
Introducing Crypto-USDT futures markets with INR margining is a landmark move for Pi42 and our community of traders. This feature not only aligns with global trading practices but also caters to the specific needs and preferences of our Indian users. At Pi42, we continuously strive to innovate and improve our platform to ensure that it remains at the forefront of cryptocurrency trading. We invite you to explore this new feature and see how it can enhance your trading experience.
Sign up today on Pi42 and start leveraging the benefits of streamlined, efficient, globally recognized trading practices tailored to our Indian users.
Happy trading!