The Phantom wallet has introduced a new futures trading feature, allowing users to engage with large volumes of assets without needing separate applications.
Feature Overview
Phantom now allows traders to open long and short positions with leverage on popular assets like Bitcoin, Ethereum, Solana, and trending tokens such as Dogecoin and PEPE. Users can manage their positions and execute trades through a mobile-first interface with a built-in SOL-to-USDC converter.
Benefits of Futures Trading
Among the benefits of the new system are the ability to set stop-loss and take-profit orders and features designed to simplify trading for both novices and experienced traders. This integration ensures high liquidity and fast settlement speeds through a partnership with Hyperliquid.
Potential Risks and Limitations
Despite the advantages, Phantom warns users about significant risks associated with leveraged trading, such as the possibility of position liquidation and fluctuating funding rates. The futures trading feature is not available for users in the UK due to regulatory restrictions.
With this update, Phantom strengthens its position in the cryptocurrency market by providing users with more flexible asset management and access to futures trading through its mobile wallet.
