Leading cryptocurrency exchange Binance has made a new announcement that will make crypto investors smile. Accordingly, the giant stock market has introduced a new options trading platform for its users. According to the information obtained, the trading platform will allow even investors with small capital to take positions. Binance has announced that it will launch the new platform on September 13.
Binance introduces new options trading platform
With the new options platform, users will have the advantage of purchasing options equivalent to spot and forward positions with much lower capital. The Binance options trading platform will be available on both the exchange’s website and mobile app. In its announcement, the exchange shared that the trading platform will be launched on September 13, 2022. Binance will list ETH options priced and settled in USDT at launch.
Appeals to low-capital crypto investors
Users will be able to purchase the equivalent of a spot or futures position through the trading platform. They only need to purchase Premium Option for the same risk ratio as these investment products. Therefore, the Binance options platform demands a lower capital requirement. Thus, the exchange aims to be a great alternative for users to strengthen their trading results.
Low gas fees and high liquidity advantage
Users will enjoy one of the lowest options fees in the market through the new Binance options trading platform. Accordingly, the exchange will only charge a gas fee of 0.02% on the options platform. However, the usage fee will be only 0.015%. In the meantime, let’s also mention that the trading platform will have a very high liquidity.
Merge and a possible Ethereum fork will not affect prices
Binance also announced that the options options on the trading platform will be priced in USDT. However, the exchange also shared that prices will not be affected in any Ethereum fork event as Merge approaches. Accordingly, Binance will not change the strike prices of its options due to developments in the Ethereum network.
In the exchange’s announcement, it will follow the standard settlement procedure of Ethereum options listed before or after the Merge update. As Cryptokoin.com reported, Ethereum will switch to PoS with the Merge upgrade. Accordingly, cryptocurrency options will be based on the USDT value of Proof-of-Stake ETH.
Binance continues its expansion in the crypto space
Recently, Binance also made a statement for Ethereum Classic. Adjusting itself accordingly as Merge approaches, the giant exchange announced that it will support ETC miners. With Merge, Ethereum will transition from Proof-of-Work to PoS, and therefore, legacy miners will no longer have a function in the network. Many analysts predict that miners will start mining Ethereum Classic. Binance will not charge ETC miners for mining.
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