Binance will allow you to trade cryptocurrency futures with 1: 20 leverage

Since September, the world's largest cryptocurrency exchange is introducing the possibility of trading futures contracts. Binance customers will be able to use the leverage of 1: 20.

The information was provided by the creator of the Binance Hangpeng Zhao cryptocurrency exchange when answering investors' questions. Q&A session took place on Twitter. Thanks to this, we know that initially Bitcoin / Tether will be available, and the leverage will be 1: 20.

"We'll be adding more pairs later, but this is not the end: the target leverage will certainly be higher." - says Hangpeng Zhao, the manager of the Binance exchange.

Be sure to read: Binance - We check the cryptocurrency exchange [Review]

Deposits in cryptocurrencies

Trading futures is another project of the dynamically developing Binance exchange. Currently, it has 30 billion USD turnover per month and is a global leader in this respect. For some time, however, it has expanded its business, which is no longer just about brokering cryptocurrencies.

Binance clients can even make deposits. However, they are not financial products in the traditional sense of the word, as they are subject to risk. Deposits are made in cryptocurrencies, the rate of which - as we know - can change dynamically. Encouraging is high interest rate, which ranges - depending on the selected cryptocurrency - from 7 to 15 percent.

Own Binance cryptocurrency

Binance also plans to introduce its own cryptocurrencywhich is a response to the plans of Facebook and its Libra. Works on Venus Coin have been going on for months and there are many indications that the project based on stablecoins and fiat currencies can be quickly implemented. Especially since Binance has already accustomed investors to the fact that the announcement of design works usually means that they are already in the final phase and we will soon be able to use the new functions. In this case, however, we know that the cryptocurrency and its functionalities are already being tested, so we can expect it in the coming months.

"This is undoubtedly the future of the global digital economy. In the short and long term, stablecoins will replace traditional currencies, not only in the most developed and modern countries, but around the world. This is not only a vision of a new world system in the world, but a real future that will increase financial security and allow the development of new services. "- notes co-founder Binance Yi-He.

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