Having New Perpetual Contracts, Zcash Is Now On Binance Futures
Mark Lemon – Cryptocurrency Broker
On 4th of February, an announcement was made by Binance that the trading of ZEC/USDT contracts would go live on 5th February at 8.00 a.m. Binance made a change here by choosing to set a price limit of ±1% on the mark price. This will only happen in the initial 15 minutes once trading commenced. These Zcash (ZEC)-Tether (USDT) perpetual contracts are launching with Binance’s futures platform. The maximum leverage will be 50x, an alternative to those that buy and sell Bitcoin and other altcoins. The UK FCA is to ban these types of trading instruments form the 6th January 2021.
Differences between Perpetual and Traditional Futures
The CEO of the exchange, Changpeng Zhao, believes that the futures platform has made great institutional participation. He further said the professional traders drive for faster transactions and accommodating speedy trades.
The report shows that after the launching of the Binance Futures platform, their maximum offering leverage was 125x. It was later revealed that the exchange brought the attention of traders towards an insurance fund to help them reduce the chances of auto-deleverage, which was amazing news for traders that buy and sell cryptocurrency via the platform.
Binance has exclaimed that price inconsistency between spot and futures market can be elevated, depending on the determined settlement time. Moreover, there will be no expiration or settlement date for perpetual contracts dissimilar to the traditional futures contracts.
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Dear valued BC Bitcoin UK Clients,
I hope this email finds you well. We are reaching out to inform you of some significant changes to our services that directly impact our operations within the United Kingdom. Regrettably, due to the recent regulatory developments introduced by the Financial Conduct Authority (FCA) and the implementation of the new Financial Promotions Regime, BC Bitcoin is no longer able to offer our services to clients based in the UK. This very difficult decision is in compliance with the regulatory framework and ensures that we uphold the highest standards of transparency and legality. You can view the FCA publication here: https://www.fca.org.uk/publication/finalised-guidance/fg23-3.pdf As a result, we would like to inform you of the following changes and provide guidance on how to manage your assets with BC Bitcoin:
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