Binance has managed to establish itself as one of the most trusted and the leading cryptocurrency exchange in the field.
One of the reasons for this is that the company doesn’t stop building new products. From regular listings of new cryptocurrencies to staking, and building new trading features, it appears that there’s always something brewing over at Binance.
The latest addition is something that BitMEX is known for – Bitcoin-collateralized futures contract with extremely high leverage.
Binance Futures – the leveraged trading platform of Binance, has announced the launch of the BTC/USD Coin-M perpetual contract.
Trading started on August 11th at 7:00 AM (UTC). The exciting and new thing about this type of contract is that it uses Bitcoin as collateral instead of USDT, like the other contracts currently existing on Binance Futures.
The available leverage levels that users can trade with are up to 125x, which is extremely high. The contract is very similar to that of BitMEX, which also uses a Bitcoin-collateralized structure.
The trading interface of the new contract is the same as that of other futures contracts on Binance Futures, but instead of inputting their desired USDT amount, users now have to add “contracts” where one contract equals 100 USD.
As CryptoPotato explained in a detailed Binance Futures trading guide, there’s a big difference between perpetual and regular contracts.
Regular futures contracts expire at a certain point in time. Unlike them, perpetual contracts don’t have a fixed expiration date – traders can open and close them at will, whenever they see fit.
Elsewhere, Binance Futures has also launched a leaderboard, where traders can share their strategies, profits, positions, and overall earnings. Users can follow them and mirror their portfolio if the participant decides to share it.
