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Binance is riding the waves of the crypto industry’s emergence in the financial market and has now announced a major development for its platform. Users of the crypto exchange will now be able to trade futures contracts on their phones via an Android app.
Binance’s future trading contracts launched just a few weeks ago and recently recorded an all-time high of 315,000 BTC traded in a 24-hour volume, which is worth nearly $3 billion. And with this new mobile app giving users the ability to trade futures contracts on the fly, Binance is trying to pull in more investors to participate in the crypto ecosystem.
This new update also allows traders to increase their position by up to 125:1. Director of Binance Futures Aaron Gong added that this development is but one of the many updates that the company is planning. He also highlighted how comprehensive their system is and how it helps traders position themselves in the market, the announcement read.
Launching of Android app was the community’s request
“We have the fastest and most stable matching engine in the crypto industry to date. In the coming months, we will roll out new major features that address community feedback, including several developments to improve the user experience. The launch of the Android app this week is one of the major features released based on community requests,” Gong said.
One of the planned updates that will be launch soon is support for an iOS Binance Future app that is slated to add more investors to the growing community. There are several crypto pairings that traders can dip their hands in the trading platform including Bitcoin, Ethereum, Litecoin, Ripple, and more.
Binance’s popularity grows amidst positive market sentiments
Conversely, ATOM/PAX, BTS/BNB, CVC/BNB, ETC/PAX, REP/BNB will now be unavailable to improve the company’s liquidity. The removal will be effective on Nov. 11, Bitcoinist reported.
As the crypto ecosystem grows, Binance effort in streamlining trading in the industry will be upgraded in the coming months in an attempt to stay ahead of the competition. Indeed, the company’s endeavor in further smoothing the user experience is reflected by the aforementioned trading volume that the company is experiencing. Binance CEO Changpeng Zhao said that professional traders have been “flocking” to their platform to conduct their business. And seeing the current market sentiment, Binance’s user base will only grow from here.
