Binance Exchange is soon to Launch a futures platform of Trading
April 3, 2020 4:15 pm
The world’s largest cryptocurrency exchange, Binance is soon to launch a futures platform of trading, where users will be able to select between 1-50x leverage.
Changpeng Zhao “CZ”- The founder and CEO of the exchange announced a futures trading interface on Binance with specialities including longs and shorts on crypto assets, also shared “test flight leaks” and a screenshot of a visible model for trading BTC/Tether (USDT) options contracts via tweets On April 3.
Binance’s performative social media “leak” explained options trading support as the details on “what to test” list, which covered other products that have been officially advertised earlier, such as the Binance Card issued by Visa.
As a popular derivative that allows traders to protect against asset price fluctuations in either direction and options agreement offers the chance to acquire both a right to purchase (a call option) or sell (a put option) a granted asset at a specified “strike price.” This strike price is settled on or before the expiration date of the contracts.
Bitcoin options Deployed in 2019–2020
Chicago Mercantile Exchange Group declared that it was anticipating great demand in Asia for its future options goods for Bitcoin futures, In October 2019.
In December, OKEx-Malta based cryptocurrency exchange launched Bitcoin options trading for a preferred group of traders before the public launch in January 2020.
The futures trading highlight appears after the firm operated margin trading at the platform last month. It is expected that the Margin trading will be launched to all the users first nearby July 11 and about a week after that Binance futures testnet platforms will proceed to better serve the users.