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BTC futures trading is a derivative trading based on Bitcoin, allowing investors to go long or short with leverage (up to 100x) without actually holding the asset. Its core mechanisms include: 1. Perpetual contracts have no expiration date, maintaining price anchoring with the spot market through funding rates (settled every 8 hours); 2. Two-way trading supports both long and short profits, for example, going long when the price rises and shorting when it falls; 3. High risk and high return, with leverage amplifying gains and losses, the liquidation rate is about 0.03%, and one must pay attention to the platform's risk reserve coverage ratio (e.g., XBIT reaching 200%); 4. Mainstream platforms like Binance, OKX, and Huobi provide high liquidity, supporting smart risk control and on-chain settlement. Investors should strictly set stop-loss orders to avoid excessive leverage.