World’s leading crypto exchange in terms of trading volume Binance that allows trading of over a hundred cryptocurrencies is reportedly launching Futures trade with a leverage of twenty times (20x).
During the recently held second annual Asia Blockchain Summit, CZ Zhao, the CEO and founder of Binance revealed the platform’s plan of this new launch and moreover exhibited the interface of Futures trading on the digital currency exchange which included features such as long and short trading contracts on several crypto assets. He stated that Binance is all set to launch a platform for futures trading in the near future. The exact date is yet not confirmed; however, in a couple of weeks, the simulation test version would be live.
In addition, at the Summit Zhao also pointed out that the offered leverage could be up to twenty times and will likely be offered initially on the trading of Bitcoin. Although the exact date for the release has not been mentioned by the CEO, however, the test would be launched in two weeks.
Lastly, this latest feature of future trading is being launched after the launching of the margin trading feature on Binance last month. As it was previously mentioned by one of the spokespeople of the platform that all the users will be able to use margin trading after its rolling out around 11th July 2019 and after that testnet for futures trading will likely be launched after a week or so.