Cryptocurrency News Today – You no longer need a computer to dump money anymore; you can do that from anywhere with convenient Binance iOS application. As a Binance customer, you can now use your iPhone to trade BTC/USDT contracts with up to 125 times leverage. Traders can also get up to 50 times leverage on contracts made in the ETH/USDT trading pair. The director of Binance Futures, Aaron Gong, said:
“Binance Futures is embedded with the fastest and most robust matching engine to ensure a consistently smooth and stable trading experience, with a capacity of hosting one million traders simultaneously without sacrificing user experience… In our continuous efforts to improve the product, we have been rolling out new major features in the past two months and will continue to release new major updates with more innovative functionalities.”
Binance launched two test contract platforms in September this year, and the firm is approaching the task with extreme caution. After the tests, the firm officially announced a renewed iOS application. The app can bring additional convenience to Binance customers that admire iOS-based products over Android-based products.
Binance Launches a New iOS App for Its Customers to Create Large Deals
According to the firm, the new iOS app will replicate the success of the Android version. The trading platform said that Futures trading is popular among retail investors. During the first two months of trading, Binance Futures was setting the records on Android. It now hits 370k BTCs in daily circulation, which currently equates to about $2.7 billion.
According to statistics, the huge institutional capital holders account for 81 percent of the total trading volumes. They often go for safe trading at 20 times leverage or less. Nevertheless, most of the traders, who keep more than 60% of all contracts, are trading over the 20 times leverage level. Both on mobile and desktop, about 21% of all the traders go for the risky leverage level of 125 times.
Centralized Trading Platforms Need to Increase Their Transparency
It is good that crypto trading platforms such as Binance are releasing new products to keep their customers in this game. Nevertheless, they also need to put some more effort into increasing their transparency levels. During the recent IEO of the Celer Network, Binance said that they distributed the 579 million tokens among participants.
Nevertheless, researchers reported that the trading platform sent 2/3 of the fund back to themselves. There was a heavy dump of the token by large, anonymous players via Gate.io and other platforms.
“A conversation with a Celer Network representative/developer on Twitter reveals that they have no clue what the hell is going on and there are several hundred million tokens that are currently unaccounted for.”