Now, put up crypto holdings as collateral with Binance Futures

Users can now put up their crypto holdings as collateral to fund futures trading with Malta-based Binance, one of the world’s top cryptocurrency exchanges by trading volume. The new feature allows users to trade futures contracts using assets stored in their Binance exchange wallet as collateral, without the need to use their coins to directly fund orders.

The Binance Futures platform gives users the opportunity to trade 13 pairs with high leverage, and also to hedge existing positions to manage their risk. Aaron Gong, director of Binance Futures, said the feature allows more flexibility and choices of deposits to open futures positions.

Traders using the service can currently borrow tether (USDT) at zero percent interest against holdings of Binance USD (BUSD)—the exchange’s own stablecoin issued in partnership with New York-regulated firm Paxos—eliminating the need to transfer BUSD to a futures wallet.

Binance is also adjusting its fee structure to encourage market makers to add liquidity to its futures platform, which means market makers will receive a negative fee for placing trades on selected pairs.

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Cult Today

Cult Today

CULT is a collective for NFT lovers. We are passionate NFT hoarders, we love minting our own collections and we are always on the lookout for collaborations. Most of our work can be found on StakeCube Marketplace

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