Trading Platform and How It Works
Founded in 2017, Binance is one of the most popular and largest crypto exchanges in the world. The exchange supports margin, spot, and crypto futures trading on major cryptocurrencies. The platform allows traders to place trades on the future price of Bitcoin, BTC.
Binance Futures platform was launched in 2019 as a product of Binance to enable traders to speculate on prices of multiple cryptocurrencies such as Bitcoin, Ripple, Litecoin, Ethereum, etc. It also allows leverage trading up to 125x to its traders. The leverage here means that the trader can multiply their profits by 125.
Key features of Binance Futures trading platform
An easy-to-navigate user interface
Offers two futures platforms, i.e. USD and Coin Futures
Users can deposit cryptocurrencies from external wallets as well as bank transfers or credit cards to deposit Fiat currencies on Binance.
Provides 24/7 support
Compatible with Google Play, Mac, and Windows for PC.
Besides supports Futures trading, it also supports margin, OTC, spot, and PTP trading
Offers a wide range of drawing tools and indicators to support technical analysis
FuturesTrading-Howdoesitwork?
Futures are the derivative products that let the crypto traders trade upon a projected future price of any crypto asset. The best part about futures contracts is that it allows traders to bet on the price of cryptocurrencies without even buying them.
Whenever you look at the process of crypto futures trading on Binance, you will understand how similar it is. Futures contracts are not same as the spot trading as they are not operating with any underlying asset, but only with the price action.
Why should I trade on Binance Futures trading platform?
There are a few reasons why trades should consider Binance Futures trading: Opening a leveraged position Shortening BTC and many other popular cryptocurrencies Trade without owning funds due to leverage Binance Futures also supports margin trading, spot wallet, and P2P trading.
To start trading on Binance Futures, the traders are required to open an account on the Binance exchange.
