What is Binance futures❓

What is Binance futures❓

For this article, I would like to present some knowledge about the so-called binance futures. If you're ready, let's go see it.

👉🏻Get to know Binance futures

Binance futures is a market in which futures contracts are traded with commodities denominated in cryptocurrencies. cryptocurrencies It is similar to trading forex or buying stocks in futures in that it differs from the spot market or conventional coin holdings in that it can be bought in both ups and downs. What makes the futures market intimidating is that it can be traded using a leverage margin, which allows you to use a small investment to buy more contracts than you have. which can be highly profitable and at the same time If there is a loss, there will be a high loss as well. Those who will be trading futures should be educated about the information.

👉🏻How to apply for Binance futures

1. For you to click on the Binance.com website.

2. Then you then press apply to become a member.

3. After that, you have to press confirm your identity successfully, you will have to go through the 2FA verification step.

4.Then you make a deposit to binance.

5. The next step is for you to go to the futures page and then apply for futures.

6. The next step is for you to take the binance futures quiz where you can watch videos and answer questions.

7. Upon completion of the exam You can now start trading futures.

👉🏻 Advantages and disadvantages of Binance futures

- Able to make profit regardless of whether the coin is going up or down

- A small amount of capital is used, but it can be very profitable from the value of leverage. The formula is that the higher the amount multiplied by the larger the risk.

- Using a hedge is a risk to the price of the coin held. for example If you are confident that the price of the coin will definitely go down. It is possible to purchase short futures contracts as a counterbalance to the value of the coin held.

- Opportunity to be liquidated when the coin price runs against the contract you have purchased. for example When you buy a short contract and the coin price goes up violently.

How are you? Hope this article will be useful for all readers and see you in the next article.

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