Binance has officially launched its Bitcoin Futures platform and has got success in its first performance in the crypto market
The cryptocurrency exchange is offering the Bitcoin futures platforms which are tested by the users. Initially, there were two of them, one was the exchange’s own member and the other was from the JEX. The exchange will also pay the users for testing these platforms.
A blog which was published on 12th Sep illustrates:
In response to an overwhelming response for Binance Futures since the beta launch on Wednesday, Binance is delighted to announce that Binance Futures will go live, starting from 2019/09/13 04:00 AM (UTC),
By going live with Bitcoin futures, the cryptocurrency exchange will also provide the facilitation of a trading fee discount of 50% for the duration of 3 months.
📢#Binance Futures is Now Live!
50% Discount on Trading Fees for 3 Months!
— Binance (@binance) September 13, 2019
This Bitcoin futures platform will now provide a regulated way into the BTC for the investors and traders of the cryptocurrency.
Binance has launched its futures trading platform one week before the Bakkt program as there is a competition going on between them. Bakkt will release its trading platform in two weeks.
The exchange is hitting the volume of $150 million with the invite-only phase of the platforms.
It is also pointed out by the crypto exchange that its trading bitcoin futures will also be included in the burn of in-house token that is BNB. The exchange will burn the products of Binance as a result of the feedback of the crypto community.
As the blog post states:
Binance will include the trading volume of Binance Futures in the calculation for the quarterly BNB burn, now burning this portion of BNB from the circulating supply.
In short, Binance has successfully achieved this milestone and is now trading live with its bitcoin futures.