What to Know About Binance Futures Before Using it?
Binance Futures is a part of the globally famous Binance exchange. The Binance exchange has the highest trading volume in the market, which makes it the largest platform in the world. Binance was established in 2017 and in 2019 the platform expanded and launched the Crypto Perpetual Futures trading platform. Since then, the Futures platform has achieved outstanding growth and prominence among crypto traders all around the world.
This exchange offers numerous features to the users that are quite impressive and highlight the significance of this platform among its competitors.
Therefore, if you are looking to use this exchange then here is a brief Binance futures review that focuses on the prominent aspects of the platform.
What is Binance Futures?
As mentioned above, Binance global expanded its operations and launched a futures trading platform. This platform has been designed to give an innovative element to margin trading. The administrative team behind this futures trading platform has worked on creating an exchange that does not make the same mistakes as most other platforms. This trading platform is also more user-focused and more improved to facilitate all types of crypto traders.
This is why this futures trading platform not only avoids mistakes made by other trading platforms but it also introduces new and innovative products and features for all kinds of crypto traders, experienced and inexperienced alike.
Funding Methods
This brief Binance futures review also talks about the funding methods you can use to fund your futures wallet. Similar to other kinds of exchanges, there are also different funding methods for the Binance Futures trading platform.
- Funding your futures wallet on this exchange is a simple and easy and consists of a few straightforward steps:
- If you have a Binance account, you can purchase any of the digital currencies with credit or debit cards.
- The next step to consider is to transfer your digital assets from other wallets and in your Binance account.
- There is a new feature called “Cross Collateral”. You can use this feature to fund your futures wallet or trading account.
One major aspect covered in this review is that you need to have Tether (USDT) because the platform only accepts USDT for depositing or making withdrawals from the futures wallet.
Support for All Trading Styles
As mentioned above, this exchange has been designed to cater to the needs of every kind of crypto trader. This is why the Binance Futures trading platform supports all types of trading styles.
The supported trading styles include:
- Algorithmic trading
- Hedging
- High-volume trading
- Scalping
This aspect is among many that make it a versatile and suitable trading platform for people interested in futures trading. It is also a fast and secure platform that also offers a budget-friendly way for people to trade.
Available Digital Assets
Through this brief Binance Futures review you can also get to know about the cryptocurrencies that are supported by the platform. This exchange is one of the best ones for people who are interested in placing trades with leverage.
Therefore, if you are also interested in using this platform then you should know that the Binance Futures trading platform supports the trading of around 24 different digital currency pairs.
The assets available on the platform also include leveraged tokens, which makes the futures platform a versatile exchange in the market.
Trading View of the Exchange
The trading view of the futures trading platform is yet another impressive feature you should know about, especially if you are new to the crypto space. The features available for the traders also enable them to choose the chart type, time frame, technical tools and a lot more.
Here are some of the features of the trading view you can use.
- Several in-built indicators
- Several drawing tools for technical analysis
- Five chart types
- Around twelve different timeframes
- Order monitoring panel to monitor all open trades and margins
- Simple and clean charting interface (customizable)
Security Offered
The security offered to the users is the topmost priority of the Binance Futures trading platform. For this purpose, the exchange offers utmost security by using state-of-the-art security systems.
The administrative team of the exchange has incorporated several checks and security protocols to eliminate any kind of cyber failure and to prevent the fraudsters from operating.
It is also a powerful trading platform that has been designed to withstand huge trading volumes without any kind of interruption.
Some of the security systems to know about in this brief Binance Futures review are mentioned below:
- Cold storage wallet
- Confirmation while making any withdrawals
- Two-factor authentication
- Using insurance of funds of the clients
Final Takeaways!
There are several platforms that offer margin trading, however, Binance Futures trading platform stands out among them as it aims to avoid the mistakes made by other trading platforms. This is why if you are interested in using this platform, make sure you have the information mentioned above.
