You Can Now Trade Tron (TRX) with 75x Leverage on Binance

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Tue, 01/14/2020 - 15:26
Alex Dovbnya
Tron (TRX) bulls and bears can now put their money where their mouth is with the help of the TRX/USDT perpetual contract launched by Binance
Cover image via 123rf.com

Binance Futures, the futures trading platform of one of the largest cryptocurrency exchanges, has just introduced a perpetual contact for Tron (TRX) that is paired to flagship stablecoin Tether (USDT). The new contract will become available for trading on Jan. 15.      

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Traders will be able to go long or short on TRX with up to 75x leverage. For example, those who choose the highest leverage will be able to hold 7,500 USDT worth of TRX after depositing 100 USDT as collateral.     

In order to gain a competitive advantage, Binance decided to bump up the maximum leverage to 125x back in October. Binance CEO Changpeng Zhao claimed that there is great demand for high-leveraged trading instruments among institutional investors.  

“Binance Futures offers a fast and stable platform that is designed by traders for traders. We have seen an increase in institutional participation in trading, and these professional traders seek out the most efficient ways to trade very quickly, both in terms of cost and performance."

Binance's futures platform, which continues to chip away at the market share of derivatives trading behemoth Behemoth, also launched perpetual futures contracts for XRP and Litecoin. 

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Despite the growing popularity of derivatives trading, users should be fully aware of the fact that they are at great risk of getting liquidated and losing all their money if their trade doesn't work out.   

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.

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