The world’s largest crypto exchange Binance has launched Bitcoin Futures trading on its newly upgraded Android app. According to an official announcement, this development will allow mobile app users to trade BTC/USD futures contracts on their handsets, delivered through an industry-leading, fast, and robust matching engine. Importantly, traders will have up to 125 times leverage on the new platform.
Binance Futures Doing Well
Launched only seven weeks ago, Binance Futures recently registered an all-time high of 315,000 BTC (worth USD$2.9 billion) traded with a 24-hour volume. Binance Futures provide higher-leverage trading through a complex risk engine and liquidation model. Importantly, it operates on a built-in hedging tool that enables traders to manage risk without compromising their trading experience.
Speaking about the new development, Binance Futures Director Aaron Gong said:
“We have the fastest and most stable matching engine in the crypto industry to date. In the coming months, we will roll out new major features that address community feedback, including several developments to improve the user experience. The launch of the Android app this week is one of the major features released on community requests.”
New high ATH 24h volume, 315,000 BTC, nearly 3 billion notional value! 0 ADLs, industry fastest matching engine, and 0.02% to 0.01% taker fees, and 0.01% to 0% maker fees. Incentives and discounts still active! Trade here: https://t.co/rYToNAxCL9 pic.twitter.com/ocaQTNxFNN
— Aaron Gong (@AG_Binance) October 26, 2019
Feature-loaded Binance Mobile App
The Binance mobile app comes with a multi-lingual, 24/7 customer support as well as an improved, mobile-based platform where they can buy and trade their digital assets safely and easily. Besides, traders can use the Binance app for spot and margin trading in a variety of trading pairs.
Therefore, in addition to Bitcoin, traders using this app will have the chance to trade other crypto assets such as BCHABC, ETH, XRP, LTC, and several other pairs. The exchange will launch futures trading on iOS soon. It’s also important to note that the following trading pairs will no longer be available on Binance, with effect from November 11, 2019, at 8:00 AM UTC:
- ATOM/PAX
- BTS/BNB
- CVC/BNB
- ETC/PAX
- REP/BNB
The exchange reached the decision to improve liquidity on its platform.
Through futures trading, trading can buy and sell digital assets at a specified price and date in the future, which provides them with an opportunity to hedge against risks and even increase their gains.
Featured Image Source: Binance.com