Cryptocurrency

Binance takes on derivatives specialist trading platform

The crypto currency stock exchange Binance has today, the 02. September 2019, with the acquisition of the trading platform JEX announced. JEX offers Spot and derivatives trading and was renamed after the Acquisition of short-hand in Binance JEX.
Even if the company has been around for some time, has drawn the Name of JEX, no wide circles in the crypto-world. Who would like to learn more about JEX will be disappointed when you call in the web site. On JEX.com you will encounter a “Server Error”.
According to the Finance Magnates, the platform is dedicated to provide its customers with products for crypto currency, derivatives, including options and futures contracts available.

“JEX has developed solid derivatives product offerings with Perpetual Contracts and options, which are aligned with the product Roadmaps of Binance in the crypto asset derivatives market.”, Yi He, co-founder of Binance said, to Finance Magnates.

Perpetual Contracts are currently the most commonly used contracts in the trading platform Bitmex. Bitmex is the case of traders known and especially popular as it is one of the few exchanges that offer leverage of up to 100. So users can open positions, which correspond to the 100 times your bet. At the same time, the risk of a total loss is correspondingly high.
For a long time, this type of derivatives was mainly in the hands of Bitmex. Soon Binance could capture a part of the cake. The opportunities for Binance are, is out of the question.
With a daily trade volume of over one billion, managed Binance only a few months after the launch of the trading platform the most popular crypto-stock exchange in the world. Whether it is possible Binance to get success, it remains to be seen.

About the author

Eve Manning

Eve Manning

A native Texan, Eve first started out as a Finance Analyst and later realized that her true passion was not in trading but in writing. She leverages her experience in the Finance industry to analyse and write in-depth news articles covering the Cryptocurrencies, Economy & Finance industries.