Since its inception in July 2017, Binance has given cryptocurrency users exactly what they are looking for in online exchange. By providing a network platform for digital finance enthusiasts to purchase or trade cryptocurrency, they have risen to the top. Known as the largest digital currency exchange platform in January 2018 according to trading volume, Binance continues to evolve. With advancements in the crypto market, it is essential that they continue to cater to the needs of its users.
Big News with Binance
One of the topics in cryptocurrency headlines lately is the introduction of leveraged tokens on the Binance exchange platform. There are many advantages of leveraged tokens for users, including:
• A tradeable asset
• Provides users advantageous exposure to an underlying asset
• Users do not need to maintain collateral
• Decreases liquidation risk for users
• Decreases margin maintenance
• Incur smaller fees
• Give users enhanced protection
The aim of Binance for providing these leveraged tokens is to give users a more significant price swing accessibility.
The Delisting of FTX Products
Another major change with the Binance exchange was the recent delisting of FTX tokens and similar products on the platform. They announced this change at the end of March, stating that the FTX leveraged tokens confused its users. They were initially designed to trade as short-term items and users were hanging onto them long-term instead.
By delisting the FTX leveraged tokens and introducing Binance leveraged token, they hope to educate users on the significant advantages. From designing an improved leveraged product for online use, they hope the results will speak for themselves. Ensuring there will always be liquidity for these products, they guarantee availability to exchange users for purchase or sale.
Advantages of the Binance Exchange Platform
Binance did not grow to be the largest cryptocurrency exchange platform by accident but worked diligently for that spot. It was founded by a software developer named Changpeng Zhao who had previous experience creating high-frequency trading software. Cryptocurrency exchange platforms have become essential tools in the digital finance market, and Binance wants a piece of the pie.
As the starting point for purchasing or trading cryptocurrency, exchange platforms can give crypto users the necessary tools they require. Binance has ensured they consistently give users innovative technology and crucial products to remain competitive in the cryptocurrency market. By giving investors what they need and want, they continue to stay on top of the popularity list of exchanges.
The ease of use gives Binance an edge over many competitors in the cryptocurrency market. The ability to use the exchange platform from a desktop computer or mobile devices, users can keep up to date. Including apps for multiple device setups, to tailored software for Mac or Windows users on desktops, Binance delivers quality.
Providing 24/7 technical support and a large community of crypto enthusiasts, users can get answers to questions anytime. Being able to learn about cryptocurrencies and develop a digital portfolio with help is an advantage users boast about. Take the chance to be part of the community with your own account and start trading today.