Binance Futures is the leading cryptocurrency derivatives trading platform. It allows traders đồ sộ use leverage and đồ sộ open both short and long positions.
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Upon launch, Binance Futures made sure that the trading experience is as similar đồ sộ their spot exchange as possible, making it very easy for users đồ sộ transition when needed. This, amongst other things, is what helped it establish itself as the leading futures trading platform.
The user experience is smooth, trading is made relatively simple, and there’s a massive abundance of supported cryptocurrencies.
In this guide, we take a complete overlook of the platform, how đồ sộ use it, and everything you need đồ sộ know.
$100 Free & 10% Fees Discount: Exclusive for CryptoPotato
First, you will need đồ sộ sign-up using this liên kết, which uses our unique sign-up code.
The $100 bonus will be granted in the following way: $5 for signing up and verifying your trương mục. $50 once a deposit of $50 and above is made (within 5 days), and $45 when trading over $100 or equivalent (full terms).
What if I already have a Binance Spot account?
You can still enjoy the 10% off Binance Futures fees for the first month. You can also navigate đồ sộ Binance Futures and insert the code Cryptopotato upon your first use of the Futures platform. Here is a screenshot:
- Review & Video Tutorial
- Which Coins Does Binance Futures Support?
- Why Trade on Binance Futures?
- What are Bitcoin Futures?
- Binance Futures: Start Here
- Leveraged Trading on Binance Futures
- How đồ sộ Trade Bitcoin Futures on Binance Futures
- Opening a Short or Long Position
- Closing a Position
- What are Binance Futures’ Trading Fees?
- Security: Is Binance Futures Safe?
- Binance Futures Support
- Binance-branded product
- High trading volume and liquidity
- Industry-Leading Security (SAFU insurance fund)
- You can only trade by depositing USDT
- Relies on the controversial Tether (USDT) stablecoin
Binance launched its derivatives platform – Binance Futures – back on September 2019. As it turned out, this was one of the main catalysts for the company’s massive growth that followed.
At the time of this writing, the daily volume of Bitcoin futures on the platform has far exceeded the volume of the spot BTC/USDT trading pair on the primary Binance platform. This is a clear sign of the investors’ appetite for derivatives products.
Binance Futures has established itself as the leading derivatives platform by a considerable margin, and although there are many competitors now as opposed đồ sộ back in 2019, the platform is still way ahead.
In the years since its launch, we saw numerous coins being added, as well as a multitude of features and tools that ultimately made it one of the most seamless, streamlined, and of course – the most widely-used cryptocurrency derivatives platform.
Why Trade on Binance Futures?
There are many reasons why one might consider trading Bitcoin futures on this platform. Some of them include:
- It’s the most liquid platform in the industry by a considerable margin.
- It allows you đồ sộ short Bitcoin and other cryptocurrencies: hedge your positions, and improve your risk management đồ sộ protect your crypto portfolio during bear markets.
- You don’t need đồ sộ keep a large amount of BTC on the exchange because of the leverage.
You can use leverage of up đồ sộ 125x on Bitcoin futures on Binance. However, you should also keep in mind that leverage trading is not recommended for beginners since it involves a significant amount of risk. You can lose your capital a lot quicker kêu ca you otherwise would. This is why you shouldn’t get involved unless you have sufficient experience. Regardless, make sure đồ sộ never risk more kêu ca what you can afford đồ sộ lose.
Now that we’ve gone through some of the basics, let’s dive deeper into Bitcoin futures on Binance and how đồ sộ trade them.
What Are Bitcoin Futures?
Bitcoin futures allow the trader đồ sộ buy or sell Bitcoin at a predetermined price at some point in the future. The buyer of the contract is obligated đồ sộ buy the asset when the contract expires, whereas the seller is obligated đồ sộ provide it.
Apart from traditional futures, however, Binance also supports the so-called perpetual contracts, which are rather different and are the most commonly used type of derivatives product with the highest volume.
Perpetual futures contracts don’t have a preset expiry and settlement date. They are anchored đồ sộ the spot index price, and the trader can terminate them whenever they want. In other words, when you buy or sell a perpetual contract, you don’t have đồ sộ subsequently sell or buy it at a preset date. Instead, you can bởi so sánh whenever you want đồ sộ.
Bitcoin futures on Binance are traded against USDT, but they can be settled and collateralized with USDT, BUSD, and other cryptocurrencies through the COIN-M variation.
A year after its launch, Binance Futures also introduced quarterly futures contracts for the BTC/USD trading pair. Since then, it has also added an ETH/USD quarterly futures contract.
To be able đồ sộ trade on Binance Futures, you need đồ sộ create an trương mục with Binance. The process in itself is very easy, but you would have đồ sộ go through an identity verification because of Binance’s KYC requirements. You can learn how đồ sộ register and deposit money in our Binance trading guide.
Once the funds are deposited, you will have đồ sộ transfer them đồ sộ your futures trading wallet. On the right corner of your navigation thực đơn, you will see your wallet. Hover over it, and from the drop-down thực đơn, select your futures trương mục. Once there, this is what you will see:
You will also need đồ sộ choose whether đồ sộ trade on the stablecoin or crypto-denominated futures platform. Binance added the option đồ sộ trade futures denominated in crypto, which is very convenient for users who don’t want exposure đồ sộ stablecoins.
- Stablecoin Denominated (USD-S)
As the name suggests, the futures contracts here are settled in stablecoins. This means that you will receive your profits or mark losses in stablecoins. Binance supports USDT and BUSD.
- Crypto Denominated (Coin-M)
The futures contracts here are settled in cryptocurrency. This means that you will receive your profits or mark losses in crypto. These are margined in Bitcoin, and that’s the base currency you will use.
For the sake of this guide, we will use the USD(S)-denominated futures that are settled in Tether (USDT). You can also choose đồ sộ use BUSD as the base currency for perpetual futures.
After you have funds in your trương mục, it’s time đồ sộ start trading. This is what the overall interface looks like:
Leveraged Trading on Binance Futures
Binance allows users đồ sộ place trades with a leverage of up đồ sộ 125x on certain pairs (BTC/USDT, for example.)
Setting your leverage is pretty simple. Above the order boxes, you will find the leverage button, and clicking it will lead đồ sộ the following adjustable bar that you can use đồ sộ phối up the precise leverage:
It’s very important đồ sộ note that using high leverage carries high risks and shouldn’t be done by inexperienced traders. It’s not advisable đồ sộ use anything above 5x, and even that seriously increases the risk of capital loss. Make sure đồ sộ never invest more kêu ca what you’re comfortable losing.
Once you have your leverage phối, you should also determine whether you want đồ sộ use cross or isolated margin. This is done from the button right next đồ sộ the leverage bar.
- Isolated margin
With this mode, the margin that you post for each trade is restricted đồ sộ what you allocate đồ sộ it, meaning that if the margin ratio reaches 100%, it liquidates the position but only đồ sộ the amount you’ve posted as margin đồ sộ it without putting the rest of your trương mục at risk.
- Cross margin
All cross positions share the same asset cross-margin balance. This means that in case of a liquidation sự kiện, your entire futures trương mục will get liquidated, including the margin you’ve posted for other positions.
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For the sake of this guide, we will use the isolated margin mode.
How đồ sộ Trade Bitcoin Futures on Binance Futures
There are a few types of orders that you can place on the platform:
- Limit Order
- Market Order
- Stop-Limit/Market Order
- Trailing Stop Order
Opening a Short or Long Position
Limit orders are used when you want đồ sộ buy at a specific price. They are placed in the order book and filled when BTC reaches that price, provided there’s enough liquidity.
To phối a limit order, you will have đồ sộ specify the price at which you want đồ sộ buy or sell. Where it says size, you can select the % of the maximum position you’re allowed đồ sộ open. In this case, we’ve chosen 20%, which represents 0.005 BTC (displayed right below the slider). With a 5x leverage, the total cost will be 27 USDT. Note that 0.005 BTC, priced at 27,000 USDT per BTC, is around 135 USDT, but we’re only required đồ sộ post 27 USDT because of the 5x leverage that we use.
NOTE: You can also type in the position size in BTC directly if you bởi it manually (and not use the slider). So, you can type in “0.005 BTC” instead of 20% – it’s a matter of personal preference.
That said, as soon as you hit the Buy/Long or the Sell/Short button, you will have a limit order placed in the order book. Once the price reaches that level, your order will be filled if there’s enough liquidity. That’s when your position will be opened. Below, we will show you how đồ sộ monitor and close it.
The most basic order type, market orders, are used đồ sộ buy Bitcoin at a spot price.
All you need đồ sộ enter is the order quantity. Again, note that the margin required is five times less kêu ca the actual value of the order.
Following the same example as above, we’ve phối a market order đồ sộ buy 20% of the maximum allowed position (representing around 0.005 BTC). The cost at current prices would be around 28 USDT, while our position value will be once again around 130 USDT.
These are typically used as stop-loss or a take-profit mechanism.
In essence, the Stop Price tab is where you put the price that you want for a limit order đồ sộ be placed. The following “Price” tab is where you put the price at which you want the limit order đồ sộ be executed. It’s easier if we make an example.
At the time of this writing, Bitcoin’s price is trading at around $28,000. Let’s imagine that we have a position that we opened when the price was $27,500, and we are currently in profit. However, you want đồ sộ protect your trade and put a stop-loss in case things go bad.
With the above order, we specify that as soon as the BTC price drops đồ sộ $27,000, we want a limit order đồ sộ be placed with an execution price of $26,500. If the price reaches $26,500, our order will be filled, and the position will get closed. Keep in mind that if you have a long position, your stop order must be the opposite – a short position. In the size tab, place the exact same size as the order that you want đồ sộ close.
To use it as a take-profit mechanism, it’s best đồ sộ take advantage of the Stop-Market order, but you can also use a stop-limit order as well.
Following the above example, if we want đồ sộ take a profit once the price reaches $30,000, we just have đồ sộ put that number as well as the exact size of the position we want đồ sộ close, and as soon as the market goes there, our position will be closed.
Trailing Stop Order
The trailing stop order helps you lock in profits or limit your losses as the trade moves in each direction. It allows you đồ sộ place a pre-set order at a specific percentage away from the market price when the market swings.
It’s a more advanced order type that shouldn’t be used without the necessary experience.
Closing a position
As soon as you have your position open, you will be able đồ sộ monitor its status. For the sake of this guide, we’ve opened a long Bitcoin position using a standard market order, as shown in the example above. Here’s where we can track it:
As you can see, we’ve bought 0.005 BTC at an entry price of $28,097. In other words, we have opened a long position of 0.005 BTC, and we have posted a $28.13 margin for it.
If you wish đồ sộ close your position – you have two options. A market close is instant, and you close at the best available spot price. In contrast, a limit close lets you specify the price at which you would lượt thích đồ sộ close the position.
As you can see, the position tracker also contains a liquidation price. This is the price that, if reached, will see your position liquidated due đồ sộ insufficient margin. Since we are using an isolated margin – it will only burn through the $28.15 that we have posted.
As soon as you hit the “Market” button, your position will be closed, and you will see the funds return đồ sộ your margin trương mục.
Which Cryptocurrencies Do Binance Futures Support?
As of writing these lines, Binance Futures offers a massive variety of trading pairs. Users are able đồ sộ place trades with varying leverage on some of the following pairs:
- Bitcoin (BTC) / USDT
- Ethereum (ETH) / USDT
- Ripple (XRP) / USDT
- Binance Coin (BNB) / USDT
- Bitcoin Cash (BCH) / USDT
- Cardano (ADA) / USDT
- Stellar (XLM) / USDT
- Tron (TRX) / USDT
- ApeCoin (APE) / USDT
- Dogecoin (DOGE) / USDT
- Polkadot (DOT) / USDT
More trading pairs are being added constantly. Some of the other currencies that can be traded include but are not limited đồ sộ SOL, AVAX, KSM, OCEAN, HNT, SUSHI, UNI, SRM, FTM, ENJ, TOMO, NEAR, COMP, OMG, VET, ONT, ATOM, THETA, NEO, and a lot of others.
What are Binance Futures’ Trading Fees?
As a limited-time offer, CryptoPotato and Binance offer new users 20% off on all trading fees using this liên kết đồ sộ register a new trương mục. Afterward, use ‘cryptopotato’ as your referral code đồ sộ get 10% on Binance Futures fees for the first 30 days of trading (limited offer).
One of the more crucial things đồ sộ consider when selecting a futures exchange is its trading fees. This is especially important if you are day trading, as the fees can pile up fairly quickly.
As is almost always the case, Binance has done a great job of visualizing its fee structure.
You can find detailed information about their fees for all of their products on the official trang web, but long story short, the mặc định level (Regular User) carries a 0.02% maker fee and 0.04% taker fee.
- A “taker” is a trader who places an order at the market price. For example, placing “market orders” makes you a taker.
- A “maker” is a trader who places an order at a limit price. As you probably suggested, “limit orders” are used by makers.
In order đồ sộ enjoy reduced fees, Binance requires you đồ sộ both hold its native Binance Coin (BNB) and maintain a decent amount of turnover volume (in BTC).
Binance Futures’ Customer Support
Unsurprisingly, the Binance Futures exchange also comes with a high emphasis on customer tư vấn. Users can rely on a team of experienced and highly adequate international tư vấn staff.
Security of the Binance Futures Exchange
Needless đồ sộ say, Binance is probably one of the most secure cryptocurrency exchange out there. Naturally, it’s not immune đồ sộ hackers, but the company is doing a splendid job of keeping users’ funds protected.
Even if the exchange were đồ sộ get hacked, which it has in the past, Binance has introduced a so-called SAFU fund. Beginning mid-2018, the exchange has allocated 10% of all trading fees into its Secure Assets Fund for Users (SAFU) in order đồ sộ offer additional protection đồ sộ users in extreme cases. Those funds are stored in separate cold wallets that can be tracked here and here.
Moreover, Binance has a very rigorous KYC process that applies đồ sộ its futures exchange platform.
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