Binance Futures Platform Coming in September
Binance, the top-rated cryptocurrency exchange, announced this week that their highly anticipated futures trading platform will be released to the general public on September 1st, 2019. This announcement came from Twitter during a questionnaire session with Binance Founder and Chief Executive Officer, Zhao Chang. The upcoming Futures platform was first revealed by Binance back in July, and immediately the service began being tested through TestNet. Since their announcement of the new future’s platform, their already substantial daily trading volumes have nearly doubled.
The upcoming service will enable retail clients and institutional traders with the ability to trade on long or short positions. On the launch date, the BTC/USD Pairing will only be available. It’ll have average leverage of 20x. Weeks following the launch date will have multiple new pairings added to the future’s platform.
Binance is Taking Over
Binance is the largest cryptocurrency exchange worldwide, with an average of $700 Million being traded every 24 hours. The exchange is currently operational in 560 trading markets worldwide, with new clients signing up with their services daily. Binance has dominated the markets due to its crypto-to-crypto spot trading, low trading fees and exceptional services. Institutional clients or retail traders only need to pay an annual interest fee ranging from 7% to 15%.
Furthermore, Binance is about to enter one of the largest markets in the world, the United States of America. This’ll allow for the firm to jump dramatically in client activity. It’s estimated that their services will be available in the USA before November 1st and will immediately compete against Coinbase.
Binance isn’t just trying to increase their revenue by entering the United States. Their also creating new services such as their Venus Project, which sets out to allow clients to trade with local stablecoins, crypto coins or fiat coins. This ambitious project would enable the firm to provide a service unique to their brand.