Binance Futures is the latest offering from the largest cryptocurrency exchange Binance. Binance Futures will allow you to trade Bitcoin futures and other cryptocurrency derivatives With Up To 125x leverage. You can go long or short on BTC/USDT, ETH/USDT, BNB/USDT, XRP/USDT, EOS/USDT, LINK/USDT and many more!
Binance Futures Referral Code/ID & Link
Use Our Binance Futures Referral ID & get 10% Off Your Trading Fees!
How To Use A Binance Futures Promo Code To Get 10% Discount
To use a Binance Futures promo code simply click on the green “Click to Reveal Referral Code button”. This will take you to the Binance Futures website and will show you the referral ID where the green button used to be. Once on the Binance Futures website click “Register” in the top right hand corner and you will see the screen shown in the image below. The promo code should be automatically filled into the field labelled “Futures Referral ID”, if not, copy and paste our code “39907489” and complete the registration process to receive a 10% discount on trading fees.
About Binance Futures
Launched in September 2019, the Binance Futures trading platform offers crypto traders and investors the opportunity to hedge their holdings and to trade with up to 125 x leverage, with the potential for both large profits and large losses of course. In contrast to conventional financial futures contracts, the contracts offered by Binance are perpetual: they have no set expiry date or settlement date. If you wish to terminate a perpetual contract, you simply close out your position. The platform was initially launched with just one futures contract available – Bitcoin/USDT – but more pairs were quickly introduced. It is now possible to trade many Crypto/USDT pairs on the exchange, including Ethereum, Bitcoin Cash, Stellar, Cardano, Litecoin, Ethereum Classic, Ripple, EOS, Chainlink and Tron, with plans to add more over time.
Trading Bitcoin Futures
If you are not familiar with the concept of futures contracts or you are not sure what trading with leverage entails, this short guide is a good place to start.
- What Are Futures? – A contract giving you the option, but not the obligation, to buy or sell the underlying financial instrument at a specified price. Futures contracts for cryptocurrencies can be traded in much the same way the cryptocurrencies they are based on can be traded in the spot markets, but because of the leverage on offer, you can open much larger positions.
- How Does Leverage Work? – When buying cryptocurrencies in the normal way, the size of your holdings are obviously limited by the amount of money you have available to invest. With 125 x leverage, on the other hand, you can open positions that are 125 times bigger than the money you have deposited in your futures trading account. If, for example, you currently have 1,000 USDT in a Binance Futures trading account, you could open a position worth 125,000 USDT.
As you can imagine, the potential for fast profits is multiplied when using leverage. However, it is important to bear in mind that the potential for fast losses is also multiplied by the same factor.
How to Start Trading on Binance Futures Exchange
If you want to start trading crypto futures on the Binance exchange, you will, of course, need to have an account with Binance. If you do not already have one, opening a new account is a relatively simple process that can be completed in just a few minutes. Once your identity has been verified and you have funded your account with some USDT, you can then start trading. There is a handy slider that you can use to adjust your leverage once you start trading, so you don’t have to use 125 x leverage unless you want to. You can pick any number between 1, which is effectively no leverage, up to the maximum of 125.
Types of Binance Futures Orders
There are 4 different types of orders you can use to open positions on the Binance Futures exchange, which we have detailed below.
- Market Order – This is the simplest type of order: just click the Buy or Sell button and your order will be executed at the current market price. As with market orders on all exchanges, there is the chance of slippage in fast-moving markets.
- Limit Orders – A limit order allows you to specify at what price you wish to buy or sell a futures contract. If the market reaches that price after your limit order has been placed, it will be executed.
- Stop-Limit Orders – A stop-limit order allows you to name a price at which your order becomes a live limit order. Unless the stop price is reached, your limit order will not be activated.
- Take-Profit-Limit-Order – This is another variation on the standard limit order. In this case, you set a limit at which you wish to buy or sell a contract, along with a price at which you would like to take your profits too.
If you are completely new to trading futures contracts, it is worth doing some more research before you start using the more advanced order types. Alternatively, you could just stick to using market orders if you prefer.
Security and Technical Support
You can expect the same high level of security and technical support as you currently find on the Binance spot exchange, which is among the best in the crypto trading industry at the time of writing. However, you should always take your own precautions as well, to protect your trading capital and your personal details.