Altcoin News: Disappointment About Binance Futures Platform

September 6, 2019, by Marko Vidrih on ALTCOIN MAGAZINE

This week, the Binance cryptocurrency exchange introduced two platforms for trading Bitcoin futures and invited users to test them. The first results, however, were disappointing.

A Twitter user @2xjump shared his impressions of interaction with platforms, noting that they do not have the basic functions necessary for full use.

“Platform A [developed by Binance’s own team]allows up to 20x leverage, with lower leverage for larger positions. There are no margin settings, so it looks like it’s cross margin based. The interface doesn’t display current leverage, only liquidation price. I would definitely want to see my account leverage,” he writes. — “Platform B [ developed by JEX startup purchased by Binance] allows up to 100x leverage, and there is a setting to set leverage in the trading interface. Changing leverage after a position is created changes its liquidation price. So it looks like it’s isolated margin, perhaps per contract type? Hard to say without docs.”

The author also draws attention to the fact that platform A uses, among others, the untrustworthy HitBTC exchange to determine prices.

Author: Marko Vidrih