WHY SHOULD YOU TRADE ON BINANCE BINANCE FUTURES
26/02/2022
By Damilola Olushola Ogungbayi
Table of Contents
- Introduction of Binance Futures
Benefits of Trading Futures with Binance
- Selection of trading pairs
- Liquidity
- Fee
- Volume
- Multilingual support
INTRODUCTION TO BINANCE FUTURES
Binance Futures was launched around the middle of September 2019 with a focus on changing how cryptocurrency margin trading was being done.
Led by the company’s vice president Aaron Gong, the Binance futures administrative team created a trading platform that was user-focused and optimized to perform in all trading conditions.
According to Aaron Gong, the platform was mainly designed using user’s complaints about other trading platforms. This way, Binance was able to:
- Avoid a lot of mistakes made by other crypto trading platforms
- Introduce a lot of new innovations, products, and on-demand features into its platform from the start and
- Create a trading platform that suits all kinds of traders.
Not only that, Binance also spared no cost in creating and equipping the platform with the latest technology and sophistication money can buy, making the platform one of the most stable, secured and advanced crypto trading platform in the industry.
Since its launch, the Binance Futures platform has been breaking all world records and taking the crypto industry by storm.
Benefits of Trading Futures with Binance
Binance has climbed up the ladder to offer traders many financial products that will get them closer to achieving their goals.
- Selection of trading pairs
Binance Futures offers a huge selection of cryptos. There are more than 530 crypto-to-crypto trading pairs, enabling users to trade anything from DeFi tokens to memecoins like Dogecoin and Shiba Inu. New coins are constantly being listed to provide traders with the best trading experience.
As of writing these lines, Binance Futures promised and did extend the variety of trading pairs. Besides Bitcoin (BTC), the platform offers up to 75X leverage trading of the following pairs:
- Ethereum (ETH) / USDT
- Ripple (XRP) / USDT
- Binance Coin (BNB) / USDT
- Bitcoin Cash (BCH) / USDT
- Cardano (ADA) / USDT
- Stellar (XLM) / USDT
- Tron (TRX) / USDT
- EOS / USDT
- Litecoin (LTC) / USDT
- Ethereum Classic (ETC) / USDT
- Chainlink (Link) / USDT
- Monero (XMR) / USDT
- Dash / USDT
- Zcash (ZEC) / USDT
- Tezos (XTZ) / USDT
- More pairs against USDT include Cosmos (ATOM), Ontology (ONT), Brave (BAT), VeChain (VET), IOST, QTUM, ALGO, THETA, ZRX & NEO.
- New pairs added June/July 2020: ZIL, KNC, COMP, SXP, and OMG.
- New trading pairs added Oct/Nov 2020: MATIC, SRM, UNI, SUSHI, REM, BEL, HNT, OCEAN, KSM, RSR, LRC, FIL, NEAR, TOMO, ENJ, FLM, FTM, AVAX and so on.
2. Liquidity
Binance Futures has become one of the most liquid derivatives exchanges in the market.Thanks to its enormous selection of trading pairs, Traders can always expect their buy and sell orders to get filled promptly without having to worry about slippage.
3. Trading Fee
As a limited time offer, Binance offer new users 20% off on all trading fees using this link to register a new account. Afterward, use ‘cryptopotato’ as your referral code to get 10% on Binance Futures fees for the first 30 days of trading (limited offer).
One of the more crucial things to consider when selecting a futures exchange is its trading fees. This is especially important if you are day trading, as the fees can pile up fairly quickly.
As is almost always the case, Binance has done a great job of visualizing its fee structure.
Long story short, the default level (VIP 0) carries 0.02% maker fees and 0.04% taker fees. In order to enjoy reduced fees, Binance requires you to both hold its native Binance Coin (BNB) and maintain a decent amount of turnover volume (in BTC).
All of the VIP benefits of the spot market exchange apply to the futures market. What is more, the fees are generally lower than those on the spot market. However, the volume requirements for each of the VIP tiers are 5 times larger than those on the spot market because of the leverage.
4. Volume
The vast number of Binance users has helped push trading volumes in the platform into the trillions of dollars. As a matter of fact, Binance was responsible for $7.7 trillion in crypto exchange volume in 2021 and had a 24-hour peak of $76 billion.
5. Multilingual support
Binance offers support in 29 different languages with an incredibly intuitive and easy-to-use user interface to ensure that any trader from anywhere in the world can participate in the crypto revolution.
6. Leverage
Binance allows traders to place trades with a leverage of up to 125x for accounts with a balance of $0 to $50,000 so that every trader can grow their portfolio no matter their account balance.As a matter of fact, setting your leverage is fairly simplified.
On the top left corner there is a button right next to the BTCUSDT symbol that can be clicked and it will pull up the following slider:
From here, it’s pretty straightforward. The slider can be used to set whatever leverage is preferred from 1x to 125x.
So, for example, if you decide to use 100 USDT with leverage of 100x, this will open a position worth $10,000 and you’d only have to post 100 USDT as a margin.
7. With more than 28.6 million active users, Binance has built a strong reputation over the years to the point that many people worldwide would argue that if a crypto is listed in Binance, it is a legitimate project.
Unsurprisingly, the Binance Futures exchange shares the primary spot exchange’s emphasis on support, and users can rely on a team of experienced and highly adequate international support staff.
8. Security
Needless to say, Binance is probably the most secure cryptocurrency exchange out there. where users can enjoy different features, such as KYC, 2FA, and Anti-Phishing Code, to protect themselves against nefarious actors. Naturally, it’s not immune to hackers, but the company is doing a splendid job of keeping users’ funds protected.
Moreover, Binance has a very rigorous KYC process that applies to its futures exchange platform.
9.Insurance funds
Users can also rest assured that their funds are SAFU in Binance. Its Insurance Fund holds nearly $300 million to protect bankrupt traders from adverse losses while ensuring that the profits of winning traders are paid out in full.
10. What’s even more fascinating is the ability to make profits regardless of the market’s direction. With Binance Futures, traders can sell high and buy low or buy low and sell high to benefit from any price fluctuation while implementing different strategies like Grid Trading and TWAP.
CONCLUSION
Binance Futures trading platform is without doubt one of the best crypto trading platform in the industry. The numerous innovations, features, products, and low fees it has introduced have set it miles apart from its competitors.
Not only that, but Binance Futures has also demonstrated very strong growth since its inception, taking the crypto trading industry by storm and taking over the position of the largest and the most popular crypto trading platform in the world.
If you are still looking for a crypto trading platform to trade with, then this is the platform for you.
To get started why not click on the link below
https://www.binance.com/en/blog/futures/10-reasons-why-you-should-trade-on-binance-futures-421499824684903288?ref=331234001
