Perpetual swap contracts are a type of financial derivative that allow traders to speculate on the price movement of an underlying asset, such as cryptocurrencies, commodities, or stocks, without actually owning the underlying asset. They are called “perpetual” because they do not have a fixed expiration date, unlike traditional futures contracts.

Bitcoin, a digital currency introduced in 2009, operates on online marketplaces known as “crypto exchanges” where users can purchase or sell bitcoin using various currencies. Bitcoin was created by an individual using the pseudonym Satoshi Nakamoto, and is distinct in that it does not require intermediaries such as banks or third parties for transactions. This makes it a unique form of currency in the modern financial landscape.