Binance Unveils Unique Pre-Market Spot Trading for Actual Tokens, Leading the Industry
Ruholamin Haqshanas is a contributing crypto writer for CryptoNews. He is a crypto and finance journalist with over four years of experience. Ruholamin has been featured in several high-profile crypto...
Binance has introduced a new pre-market spot trading service, setting itself apart as the first crypto exchange to offer trading of actual tokens prior to their official spot market listing.
In a Wednesday press release, the exchange said the new service would allow its users to gain early exposure to new tokens, enhancing their trading strategies.
“We built Binance Pre-Market to meet user demand for pre-market spot trading, and enhance the Binance ecosystem so users can enjoy greater utility and token projects can extend their lifecycle on our platform,” Vishal Sacheendran, Binance Head of Regional Markets, said.
Unlike other exchanges that provide pre-market trading primarily through derivatives, Binance’s service offers real tokens for users to hold and trade during the pre-market phase.
This initiative distinguishes Binance from competitors such as Bybit and Coinbase.
Bybit, for instance, offers a pre-market spot trading service that relies on derivatives.
According to Bybit’s website, users must collateralize their assets in USDT as a guarantee for settlement, indicating that they are not dealing with actual tokens during the pre-market period.
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