Binance Futures Trading On TrailingCrypto Platform

by Trailing Crypto cryptocurrency experts

Recently Binance launched Binance futures trading which is available through many exchanges such as TrailingCrypto. The futures trading lets traders employ leverage as well as open both long and short positions. Currently, there are several cryptocurrencies in the market offering traders numerous opportunities for making money. Most exchanges usually specialize in spot and fiat currency products but Binance is now offering more which includes futures markets.

With Binance futures trading you can make more money by using leverage to accurately predict market movements. Leverage is an important tool in predicting market direction thus helps traders earn more. There are several cryptocurrencies that Binance futures support besides bitcoin which is the most popular trade on the platform. Others include Ripple, Ethereum, Bitcoin Cash, Stellar, Cardano, Tron, EOS, Litecoin, and Chainlink.

Importance of Binance futures trading

There are various reasons why Binance futures are important. To begin with, you will be able to use leverage in trading in that you will even trade without owning funds. Secondly, you can short the cryptocurrencies by hedging your positions and thus boosting your risk control to avoid losses in bearish conditions. 

Since you can use leverage there is no need to have large amounts of cryptocurrency. Most importantly TrailingCrypto doesn’t lock trader funds meaning that one can place several orders on the same balance or funds and the order that will execute first utilizes the funds.

Understanding Binance futures

The most popular futures trade in Binance is Bitcoin futures that allow the trader to sell or buy BTC at a pre-set price in futures. The contract buyer is obliged to purchase the asset once the contract expires and on the other hand the seller has to provide the asset.

In Binance futures trading perpetual contracts are employed and they are somewhat different relative to conventional futures contracts. Interestingly these contracts do not have a predetermined settlement and expiry date. They depend on the spot index price meaning traders can exit the contracts at will. In simpler terms, it means that there is no obligation from the buyer or seller of the contracts to purchase or sell the asset at a predetermined date but can instead exits their positions at any time.

Trading finance futures

Before you start Binance futures trading you will need to open a Binance account which requires identity verification due to the KYC requirements. You then load your account with funds and transfer them to the futures trading wallet. Click on the “Futures” option on the navigation menu to pick the futures option. Under the “Transfer” tab you can transfer funds to the futures account and begin exercising your trade.

The exchange permits traders to conduct leveraged trading of up to 125X for BTC/USDT and up to 75X for the other cryptos. You can place four trade orders on the platform which include market order, limit order, take-profit-limit, and stop-limit order. You can either go short or long in your trade and once you have opened your position you can monitor progress.

About TrailingCrypto

TrailingCrypto is a unified cryptocurrency platform that allows traders to trade on several crypto exchanges from one platform. The platform offers simple and conditional orders as well as advance, order categories that other exchanges do not support.  It is one of the platforms that support Binance futures trading and does not lock trader funds.

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Created on May 13th 2023 22:36. Viewed 114 times.

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