Binance Breaks Bitcoin Volume Record And Rolls Out Ethereum Futures Platform
Binance was recently in the spotlight following some pretty exciting adoption-related news.
Binance acquired India’s leading digital asset platform WazirX, enabling crypto traders in India to buy and sell BTC and more digital assets with fiat currencies.
Starting November 25, users received the opportunity to log in to the Binance Fiat Gateway (a fiat-to-crypto portal) in order to convert Indian rupees (INR) into crypto.
This integration is reportedly aimed to help bring crypto to more than a billion people.
Crypto mass adoption has been one of the main goals that the industry has for 2019, and the truth is that there have been a lot of moves made in the crypto space that are leading the way towards this important goal.
Crypto is reaching more and more people, and it’s also important to note that the interest in Bitcoin and altcoins is on the rise, no matter the high volatility of the crypto market.
Binance introduces ETH futures contracts
binance introduces Ethereum (ETH) futures contracts with up to 50 times leverage and allows traders to bet for or against the future price of Ether.
The ETH futures contracts will be tradable against USDT. An official announcement says that the exchange offers a 50% trading fee discount on all Binnace futures contracts until December 13, 2019.
The Daily Hodl reports that Binance said trading on the BTC/USDT and ETH/USDT perpetual contracts is similar to the existing BTC/USDT and ETH/USDT trading pairs on the spot market. These are priced and settled in the same way.
The team also stated the following:
“Binance allows for highly leveraged trading using a sophisticated risk engine and liquidation model. This number will change depending on the size of the position – the larger the position, the lower the leverage allowed.”
We recommend that you head over to Binance’s official notes and learn more details.
It’s also worth mentioning that Binance hit a new all-time record for BTC/USDT futures
Eduard Watson Author
An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.