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- Binance and Binance Futures platform has now introduced the trading of Futures against Bitcoin (BTC) via cross collateral feature.
- Binance exchange platform is one of the prominent service providers for crypto and fiat exchanges and is leading globally in terms of users and trading volume.
- Aaron Gong also said that more Crypto assets would be introduced into the cross collateral to benefit more from the feature.
Binance and Binance Futures platform has now introduced the trading of Futures against Bitcoin (BTC) via cross collateral feature making the Binance Future platform the first one in the industry of crypto exchanges to use multiple crypto assets to use them as collateral.
Binance exchange platform is one of the prominent service providers for crypto and fiat exchanges and is leading globally in terms of users and trading volume. The feature of cross collateral was introduced in the month of February this year on the Binance Futures Platform, which directly gave the option for the traders to trade futures against BUSD (Binance USD).
Now with the addition of Bitcoin (BTC), traders have the option of borrowing USDT at zero interest with Bitcoin sourced from their Binance Spot Wallets, which can be put as collaterals and used for trading against the twenty-four digital assets.
Present on the futures trading platform without any further requirement of selling the assets or making a transfer to the wallets of the future. This is marked as a huge step where Binance and Binance Futures have addressed the user issues and requirements.
The Vice President of Binance Futures, Aaron Gong, gave a light description stating that Bitcoin is one of the popular digital assets for the users where it is used as both investment assets and a trading tool.
Now placing BTC as collateral in the cross collateral feature of the Futures program, the users making a trade on the future platform can benefit and make a profit on both Upward (Bullish) and Downward (Bearish) trends without the need of selling Bitcoins at compromised market values.
Aaron Gong also said that more Crypto assets would be introduced into the cross collateral to benefit more from the feature. Since the launch of the Binance Futures Platform, it has gained popularity and increment in the number of users, and on March 9th of this year, it was recorded as the day where the Futures Platform recorded an all-time high of 5 Billion USD of the trading volume.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
