A crypto derivatives exchange allows traders to buy and sell contracts based on the future value of cryptocurrencies, rather than the assets themselves. These platforms offer products like futures, options, and perpetual swaps, enabling users to speculate on price movements or hedge their positions. By providing leverage, traders can amplify potential profits (or losses) with a smaller initial investment. Crypto derivatives exchanges cater to experienced traders seeking to maximize their strategies while introducing complexities and risks that require thorough understanding and risk management.