And it might have hit many of you as well, because Binance has become the number one platform worldwide for futures based on Bitcoin and Co. The end of futures and derivatives trading at Binance for customers residing in Germany came as a surprise last week. A look at the figures of larger crypto trading venues for futures and derivatives reveals three alternatives: But all lamentation is of no help, because a quick resumption of this line of business at Binance Germany is not to be expected. with low fees and high trading volumes.
This is the second such warning for Binance and is similar to the warning the FSA handed to Bybit in May. While the previous warning for Binance happened back in 2018, it did warn that continued operation could bring criminal charges to those involved. Binance’s response was merely to move their headquarters from Japan to Malta. Despite that claim, Binance’s Japanese website and new user registration area are accessible from IP addresses within the country. Meanwhile, Binance maintains that they do not currently undertake in exchange operations in Japan nor do they target Japanese citizens. The most recent warning was issued Friday morning and stated that Binance has continued to provide cryptocurrency services as an exchange without properly registering with the FSA.
While this is the second warning from the FSA to Binance about their alleged illegal operation, Binance is no stranger to such attention from authorities. The investigation came about after blockchain forensics firm Chainalysis, along with the DOJ and IRS, released the results of a study on Binance. The report showed that more funds tied to criminal activity passed through Binance than any other single exchange in the world. In May, the United States Department of Justice (DOJ) and the Internal Revenue Service (IRS) announced they were investigating Binance.
Regulators are looking into whether the tokens complied with the rules related to transparency and corporate disclosures. European regulators have also been investigating Binance over a token launch earlier this year.
In this tutorial video, I made a step by step guide for beginners looking to start trading on Binance Futures, btc this videos will explain the types of futures account available, USDmFutures and COINmFutures, how to place a trade, how to close a trade, I explained in details the types of orders and trades available, Leverage and margin and most importantly liquidations.
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TIMESTAMPS 🎞🎞 0:00 Intro 1:30 Explanation of the layout 2:02 USDmFutures and COINmFutures Explained 4:10 Spot vs Futures Account 10:45 Cross and Isolated trades Explained 19:00 How to transfer funds to futures account 22:00 How to place limit orders 23:09 Buy(Long) and Sell(Short) Explained 24:15 Leverage Explained 28:08 How to place market orders 33:38 Stop Loss SL and Take Profit TP Explained 35:45 Liquidation Explained 38:35 Outro.
The speaker does not guarantee any particular outcome. The information contained herein is for btc educational and informational purposes only. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses considerable risk of loss. Nothing herein shall be construed to be financial legal or tax advice.
Additionally, Binance has come under fire in Hong Kong, Germany, and the United Kingdom for unlicensed or suspicious behavior. Binance maintains they have always complied with regulations of all jurisdictions in which it operates.
: This platform is growing rapidly and has a proven crypto expert at the helm in CEO Sam Bankman-Fried. : This crypto exchange has attracted attention in Germany through a cooperation with the traditional club Borussia Dortmund and also offers trading in futures and derivatives in this country. The fee policy at Bybit is fair and deposits in euros are possible. The portfolio at Bybit is relatively narrow, but various products are covered for the lead currencies Bitcoin (BTC) and Ethereum (ETH). Like Bybit, FTX also allows deposits in euros. is the oldest platform for Bitcoin futures with its launch from 2014. Other pluses: FTX has already translated parts of its web presence into German and offers a broad and clever range of instruments for your investment strategy with over 100 futures and derivatives. Two negative points reduce the positive overall impression: You cannot deposit euros at BitMEX yet and there is no German-speaking support at BitMEX (yet). Biggest minus point: Furthermore, there is no German-speaking support at Bybit. With Bitcoin futures based on the Euro, BitMEX has a unique selling point. In addition, BitMEX covers futures and derivatives on a good handful of major binance cryptocurrencies. Since the German Alexander Höptner (formerly Stuttgart Stock Exchange) took over the leadership, BitMEX seems to be back in calm waters.
