As a seasoned crypto investor with a decade of experience under my belt, I must say that Binance’s recent announcement of their pre-market spot trading service has caught my attention. Having seen various exchanges adopt derivative methods for pre-market trading, it’s refreshing to see Binance taking a more direct approach by offering actual tokens for trade.
In their latest update, Binance unveiled a collaboration project between Binance Launchpool and Binance Spot – a pre-listing spot trading service. This innovative feature will enable users to acquire digital assets even before they are officially available for trading in the main market.
As a crypto investor, I find it exciting that while other platforms are dealing with derivatives for pre-market trading, Binance stands out by offering actual tokens for trade. Being a part of Binance’s pre-market trading means I get early access to select tokens from the Binance Launchpool, giving me an edge in the crypto market.
With this service, benefits are extended to both Binance users and token projects. This service helps prolong the life of tokens for projects and offers early market access. Once you choose a Launchpool project during pre-market trading, Binance users can carry on subscribing to Launchpool as usual, thereby receiving their allocated tokens.
At the break of dawn in the pre-trading hours, I’ll find myself equipped to trade tokens tagged as such. Notably, this pre-market phase will conclude at least four hours prior to the token’s official debut on the live trading market. In light of these developments, Vishal Sacheendran, Head of Regional Markets at Binance, shared his insights:
To cater to user interest in pre-market trading and expand the functionality of Binance, we developed Binance Pre-Market. This move aims to boost user convenience and prolong the life cycle of token projects on our platform. Binance has always prioritized user satisfaction, and we’re committed to enhancing the experience by continually introducing valuable features.
Features of Binance Pre-Market
Below are some of the features associated with Binance pre-market. This includes:
- Strict Vetting: All tokens listed for pre-market trading will undergo Binance’s vetting process.
- Early Market Entry: Users will be able to buy and sell tokens before they officially enter the spot market thereby providing enough opportunity to capitalize on early price movements.
- Utility for Launchpool users: Subscribers to the Binance Launchpool can capitalize on early market trends by trading the allocated tokens before the official launch on the spot market.
- No Extra Fees: Users will only incur the standard spot trading fees on Binance.
As a crypto investor, I’m excited about being on the cutting edge with Binance leading the way by providing pre-market spot trading using real tokens. It seems that other exchanges are also considering this feature, but they’re looking at derivatives instead.
For example, Bybit’s pre-market trading functions with collateralized assets, meaning users can trade contracts linked to USDT instead of the actual tokens themselves. In a similar vein, Coinbase provides “pre-listing markets,” where traders can deal in perpetual futures contracts for tokens before their official debuts.
In contrast to using derivatives, Binance plans to engage with the assets themselves.
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2024-10-11 17:52