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BUSD (Binance USD) on competition with USDT as BUSD futures contract now available on binance
The Binance team, on January 11, 2021, has announced the launch of BTCBUSD Perpetual Contracts that will be starting to trade on January 12,2021 at 7:00 AM (UTC). Here, the users can select between 1-50x leverage. BTCBUSD Perpetual Contracts are quoted and settled in BUSD & BUSD is used as collateral here.
Some changes are made in the Insurance clearance Fee in which the fee for BTCUSDT is now 1.00%, whereas it was 0.50% earlier. Similar changes are made with ETHUSDT contracts with a maximum leverage of 75X and contracts with a maximum leverage of 50X & 20X. For ETHUSDT contracts with a maximum leverage of 75X, the insurance clearance fee is now 1.50%,and for contracts with a maximum leverage of 50X & 20X, it is currently2.00%.
This news was made official by the Twitter handle of Binance itself on the morning of January 11. Earlier on January 5, 2021, Binance futures has announced the launch of BTCBUSD Monthly and Bi-monthly Delivery Contracts starting on January 5itself. In these contracts, users can select between 1-125X leverage. These are also settled and quoted in BUSD. These Monthly Delivery Contracts are set with an expiration, which will expire on the last Friday of the given month. Another important point with these contracts is that the existing Bi-monthly contract will now be called a Monthly contract after the delivery and settlement of a monthly contract.If you are planning to carry out trading here, you should keep in mind that it does involve a tremendous amount of risk, and there is an equal possibility of profit and loss. If you have attained a profit in the past, it doesn't necessarily indicate future returns. So, it will help if you'll do the trading after assessing all the risks.