50% trading fee discount on all the Binance Contracts until December 13, 2019

By dan saada December 1, 2019 0
binance exchange

Binance has rolled out an Ethereum Futures platform that provides for 50 times leverage.  Thus, traders will be able to bet for or against the future price of Ether.  The ETH futures contracts are tradable versus the Tether stable coins (USDT).

The exchange is providing for 50% trading fee discount on all the Binance Contracts until December 13, 2019.

Binance clarified that trading “BTC/USDT and ETH/USDT perpetual contracts” is similar to trading “BTC/USDT and ETH/USDT trading pairs” in the spot market.  Both of these are priced well and settled in the same manner.

The Binance team further stated, “Binance allows for highly leveraged trading using a sophisticated risk engine and liquidation model. This number will change depending on the size of the position – the larger the position, the lower the leverage allowed.”

The futures trading volume of Binance has been increasing steadily.  The current daily futures BTC volume is at 185,835 Bitcoin is worth $1.4 Bitcoin.  This is nearly 40% greater than the overall total spot trading volume of Binance.

CZ (Changpeng Zhao), CEO of Binance, stated, “Binance Futures is a relatively new product, so is the crypto derivatives industry. We are committed to driving product innovations and growing our industry.”

Binance, along with TravelbyBit, has created travel reward cards, which are backed by the cryptocurrency. The travel card will work just like a prepaid card, which provides access to additional discounts and rewards, which users will be able to load using Bitcoin, Binance, Binance Coin, and Ontology.  The card is expected to be released by early the next year and will primarily target travelers in the Association of Southeast Asian Nations, Australia, and Europe to expand further.

Airline acceptance of cryptocurrency will soon be a reality.  Co-founders of Scandinavian air carrier Norwegian Air have recently stated that they will be launching their cryptocurrency exchange to accept cryptocurrency payments.

WarizX, Indian Cryptocurrency Exchange, was acquired by Binance in the past week.  Thus Binance is providing support to purchase Bitcoin and Cryptocurrencies using the Indian Rupees through WarizX, the Indian Digital Assets Exchange.

Binance CEO stated that he was not concerned about the regulatory stance of the Bitcoin in India.  When he was questioned about the bill banning Bitcoin in India, he said that “It’s a “proposed” bill, not [a] passed bill.”

Wazirx CEO Nischal Shetty, stated, “Binance believes in the scope of Crypto in India.”  While purchasing of Bitcoin using INR is permitted, Binance does not provide for trading versus the Rupee.