Binance crypto futures
What is Binance?
Binance is an infrastructure provider for the crypto industry and includes a digital assets trading exchange.
Binance is one of the most secure and trustworthy exchanges in the world and has multiple layers of “banking” security measures and governance protocols to ensure that its clients’ information and funds are as secure as possible. Examples of secure technologies used to provide a safe trading environment for users who choose to leave their coins on an exchange include cold wallet storage and two-factor authentication.
The platform significantly strengthened its protection after being hacked in 2017. Back then, Binance became the target of a major cryptocurrency theft and security breach. Hackers have broken into security systems with phishing emails, viruses, and other attacks.
7,000 bitcoins (approximately $40 million at the time) were stolen, as well as some users' two-factor authentication codes and API tokens.
Binance has refunded all users lost money to cover the security breach using their emergency insurance fund. This incident is a stark reminder that the best cryptocurrency exchanges always care about their customers and are ready to make amends.
According to Coinmarketcap, Binance ranks #1 among exchanges in terms of traffic, liquidity, trading volumes, and confidence in the legitimacy of trading volumes published for the spot and derivatives markets.
By trading on Binance derivatives, traders will benefit from high liquidity to buy digital assets at the lowest prices compared to other exchanges.
For this reason, Binance is one of the best places to trade altcoins due to the high liquidity of its trading pairs compared to other cryptocurrency exchanges.
Smaller exchanges that lack liquidity will have wider spreads. Secondly, users who trade large positions on lesser known altcoins with small market caps may not be able to fill their position or suffer slippage.
Generally speaking, the Binance platform has long outgrown the format of a regular exchange. Today it is one of the best and largest Services in the world of cryptocurrencies, which offers the most diverse tools for buying, exchanging and trading assets.
Below is just a short list of features and services provided by the platform:
- Exchange - blockchain and crypto asset exchange.
- Academy - education in the field of blockchain and cryptocurrencies.
- Broker - solutions for trading terminals.
- Charity - a charitable foundation on the blockchain.
- Cloud - corporate exchange solutions.
- DEX - decentralized exchange of digital assets.
- Labs - an incubator for the best blockchain projects.
- Launchpad - platform for issuing tokens.
- Research - institutional level analysis and reporting.
- Trustwallet is one of the most reliable and secure crypto wallets.
- Binance Card - Native Cryptocurrency VISA Card.
- Trading - spot, P2P, OTC, futures, margin, derivatives.
- Buy - one of the widest lists of cryptocurrencies to buy.
- Exchange - exchange of almost any existing coins.
- Cryptocurrency Loans - Cryptocurrency Lending Tools.
- And many others.
What are crypto derivatives?
Derivatives is a collective name for a whole group of financial instruments.
The shortest and most capacious definition is the following - Derivative - an auxiliary financial instrument, an agreement on an event that will occur in the future.
The most popular derivatives in the digital money market are:
You can earn on Binance derivatives trading. The exchange provides a wide range of tools.
What is crypto derivatives exchange?
These are platforms where you can trade derivatives. Binance cryptocurrency derivatives trading platform is the recognized leader in this market segment. Users have access to a large list of instruments and good trading conditions.
How to trade Binance derivatives in the Philippines?
Trading on Binance derivatives in the Philippines is quite popular. The company works with clients all over the world and is in great demand.
Trading on Binance derivatives in the Philippines is no different from trading on the exchange in other countries. The user only needs to open an account, fund it, and can begin trading on Binance derivatives trading.
How to register?
To trade on Binance crypto futures in the Philippines, you need to register an account.
To do this, on the main page of the site, click the "Register" button. The company offers two ways to register:
- using email.
- using a phone number.
The choice is yours.
To confirm that you are not a robot, the site uses the original way to enter captcha. After filling out the form with an email address and password, a new window will open in which you need to move the slider with the picture to the right place.
If everything is done correctly, a notification will appear about the need to confirm the email address by verifying the link or entering a code that will be sent to the specified email / phone.
To secure your account, the service will prompt you to set up two-factor authentication (2FA). To do this, you need to install an application like Google Authenticator on your smartphone or select alternative options offered.
Each time you want to log in to your personal account or perform key account functions (request a withdrawal, for example), you will need to enter a unique code that will only be available in your smartphone application.
Registration does not take much time. All you need is an email or mobile phone number. The policy of the exchange allows the creation of an account without identity verification within the framework of KYC.
After registration, you get access to all the tools of the exchange and you can use Binance cryptocurrency derivatives trading.
How to open a demo account?
Not all exchanges allow you to trade on a demo account. On Binance, crypto futures trading can be done on a demo account.
You can open a demo account on a separate Testnet platform. When registering, you can use the same mail as when registering the main account. After registration, you will receive virtual funds to your account and will be able to Binance crypto futures trading under the same conditions as on a real account.
The Binance personal account has many settings that allow you to fully manage the funds and actions of the user. By clicking on the User icon in the upper right corner, you can go to the Toolbar. At the same time, we note that access to the main sections of the Cabinet is available both on the top right in the form of a drop-down menu, and on the left in the form of Bookmarks. Which navigation to use is probably a matter of habit and convenience.
The main screen of the Toolbar contains all information about the status of accounts and the User's account: balances of various accounts, activity and security data, open orders, commission rates, etc.
The basic information about the user, the possibility of verification and the desired account settings are contained in the "Basic information" tab.
On the bottom tab, information about the affiliate program and referral activity is available. A trader can not only make money on the exchange by trading assets, but also receive additional income by advertising the exchange on various media resources and social networks.
The referral system provides for several levels of income, which can reach 40% of the exchange commission. At the initial level, the user can receive 20% of the commission from each attracted friend.
In general, the functionality of the Personal Account is intuitive and allows the user to easily deal with the basic settings. Trading on Binance crypto futures in the Philippines is convenient.
How to replenish a deposit?
In general, the Binance derivatives trading platform provides users with a wide range of options for depositing. Fiat deposit options are also available, which many other exchanges cannot offer. But for some countries there are restrictions. Therefore, it is better to look at the latest information at a specific point in time on the Binance website.
You can top up your account in your personal account. On the "Payment" tab, you can add methods for depositing, withdrawing and exchanging funds, including via P2P. In total, up to 20 types of payment are available.
Once you fund your account, you can start trading on Binance crypto futures in the Philippines.
How to withdraw money?
Profit after a successful crypto futures trading on Binance is withdrawn in cryptocurrency, which can be transferred to a hardware wallet. To withdraw cryptocurrency, users can select a coin in their wallet and click the "Withdraw" button.
After entering the address data and confirming the transaction, electronic funds will be sent. The speed of crypto withdrawal will depend on the use of coins and networks at the time of the request. For more information, visit the official Binance website.
Binance allows users to withdraw fiat money from their Binance wallet to their local bank account or bank card. There are 14 currencies that can be sent from the Binance exchange to a bank. This means that funds do not need to transit through services such as Coinbase or Uphold in order to cash out into a bank account. This is a great advantage for traders who trade on Binance cryptocurrency derivatives.
Individuals who want to withdraw cash from Binance to a bank account select the currency from the wallet to withdraw and click the "withdraw" button. The user will need to pass identity verification to add and verify a bank account to complete the process. Withdrawing fiat to a bank account may take 1 to 3 business days.
Binance derivatives list
The list of instruments on the Binance cryptocurrency derivatives trading platform is very large. The exchange regularly expands it, so you should familiarize yourself with the latest information on the official website.
Alternatives to Binance cryptocurrency derivatives
For several years now, the Binance exchange has been the most popular platform on the market. There are many reasons for the popularity of the platform. Some of them we considered in this article.
But if for some reason the platform does not suit you, you can always find an alternative. Now there is a lot of competition in the market and there are a lot of alternatives. The closest competitors are: Okex, Huobi, KuCoin, Poloniex, Bitfinex and others.