Imagine being able to follow the positions of the world's most profitable crypto traders and seeing the massive gains they make every day. Binance Futures enables you to do so with its exciting new features, which will elevate your trading experience to a whole new level. Binance Futures has released five new features that will improve your trading experience with Binance.
Without further ado, here's an overview of the freshly introduced features.
- Binance Futures Battles
Binance Futures Battle was recently established and has piqued the curiosity of retail traders all over the world. The battle is the newest feature, which allows merchants to battle for points. It combines elements of gaming and cryptocurrency trading by pitting traders against one another in a contest to discover who can be the most lucrative trader over a set period of time.
The rules are straightforward. Users simply need to forecast Bitcoin's movement in the next 5 minutes and decide whether to go long or short. Players who anticipate the opposite direction will be immediately pitted against you.
Users can earn points regardless of the outcome of each match. Participate in this phenomenal feature of the Bitcoin trading battle and get points whether you win or lose. It's a terrific chance to put your skills to the test against some of the top traders in the game.
- Binance Futures Leaderboard
Binance Futures' Leaderboard is a mix of social networking and cryptocurrency trading that allows you to observe and track the positions of the platform's best traders. Top-performing traders may share their positions, and any Binance clone script Futures user may follow and track those positions. Without a doubt, it has swiftly gained popularity with beginner traders, allowing them to ride the coattails of the finest traders in the crypto market.
The leaderboard ranks the top 100 Binance Futures traders based on ROI and profit and loss. The finest feature is that you may track the traders' profit and loss or ROI performance over a range of time intervals, including daily, weekly, monthly, and all-time. This means you can keep track of how much money these top traders make each month or week.
The leaderboard also allows you to create your own social trading profile, which includes all of the features stated below:
- Create a unique display name.
- Select an avatar
- View your ranking (ROI / PNL) for yesterday, weekly, monthly, and all time.
- View ROI/PNL required to advance to the next badge
- Earned badges (ROI / PNL)
- Users can be found using their display names.
- View the top 100 traders in terms of ROI and PNL.
- Examine your positions
- View the list of followers/followers
Traders can receive badges depending on their ROI or PNL rankings, and all badges and achievements can be publicly shared via social sharing tools. By sharing your accomplishments, you may earn additional followers and like-minded crypto traders.
- Asset Conversion
Binance's Asset conversion tool allows you to change assets immediately in your coin-margined wallet, eliminating the need to transfer them from the spot market. Assets can be converted to other supported assets, and the supported assets are BTC, ETH, LINK, ADA, BNB, DOT, TRX, and so on.
This feature is now accessible on the Binance Futures web trading interface as well as the newest iOS and Android Binance Apps. With the asset conversion feature, customers can now trade more quickly and efficiently without losing out on any trading chances.
- Cross Collateral
Cross Collateral is a unique feature that allows users to collateralize their crypto assets in order to borrow against another crypto asset. This service on Binance Futures gives customers the freedom to use their crypto assets to borrow Tether (USDT) at a daily interest rate ranging from 0.004% to 0.04%. The borrowed money can then be utilized to trade futures contracts on the Binance Futures marketplace. Cross Collateral at Binance Futures currently accepts the following assets as collateral:
- ETH
- BTC
- BUSD
Users who trade USDT-margined contracts may find this feature very handy. When trading with USDT-margined contracts, you must keep a considerable amount of your portfolio in USDT. This guarantees that you have enough collateral to finance bets in the futures market.
However, this is disadvantageous for the majority of bitcoin investors. Stablecoins, such as USDT and BUSD, are not financial assets like other cryptocurrencies. A $100 USDT now is expected to be worth $100 in two years. As a result, investors choose not to sell and convert their cryptocurrencies to Stablecoins because the opportunity cost may be substantial.
Users who do not wish to own Stablecoins can utilize this functionality to collateralize their crypto assets in order to participate in the futures market. As a result, consumers may trade futures contracts without having to convert their crypto assets into USDT.
- Price Protection
Price protection is a relatively recent feature that assists consumers in adverse market situations. Price Protection is a tool that protects your Stop Loss and Take Profit orders from excessive price movements. If the Last price and Mark price diverge sufficiently over a predefined level, triggering both Stop Loss and Take Profit orders at the same time, neither order will be activated. This safeguard guarantees that customers have a fair and orderly trading experience and prevents undesirable actors from abusing market inefficiencies.
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