The second-biggest global cryptocurrency exchange by trading volume Binance now supports bitcoin futures trading on its newly launched iOS app, the exchange announced in a blog post published on December 9.
The traders can now use Binance iOS app to trade BTC/USDT contracts at up to 125x leverage as well as trade ETH/USDT contracts at up to 50x leverage by using their iPhones.
Binance launched Bitcoin futures trading services on its platform in September of 2019. According to the exchange, in the first two months, its daily trading volume on Binance Futures platform reportedly hit an all-time of than 370,000 BTC. The blog post reads:
“Within its first two months of operations, Binance Futures reached an all-time high (ATH) daily trading volume of more than 370,000 BTC (approximately $2.7 billion USD at date). On average, over 60 percent of traders on Binance Futures trade at a leverage of 20x or higher. Users trading at 125x leverage account for 21 percent of total traders, on both desktop and mobile.”
Binance also noted that institutional traders contribute to 81 percent of the total trading volume. While high leverage trading is popular among retail trader, they trade at a leverage of 20x or less.
On October 31, 2019, Binance also added support for Bitcoin futures trading on its updated V1.15.0 Android app.
According to exchange, it mobile apps are always there to users with 24/7 multi-language customer support, and a safe and easy-to-use platform to trade BTC and ETH contracts on mobile.
Traders can use also Binance mobile apps to access to spot and margin trading.
Malta-based Binance’s futures is designed to provide user best trading experience with the highest industry standard, says the blog post.
It provides high leveraged trading with a highly sophisticated risk engine and smart liquidation model to protect traders from the volatile and unpredictable nature of the cryptocurrencies.
Aaron Gong, the director of Binance futures, stated:
“Binance Futures is embedded with the fastest and most robust matching engine to ensure a consistently smooth and stable trading experience, with capacity of hosting one million traders simultaneously without sacrificing user experience. Our builders continue to push forward, releasing the potential of the trading platform and striving to gain dominance in crypto derivatives market. In our continuous efforts to improve the product, we have been rolling out new major features in the past two months and will continue to release new major updates with more innovative functionalities.”
Crypto Economy reported on December 9 that another Malta-based crypto exchange is going to launch Bitcoin option trading on December 27.