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Cryptocurrency News Articles
Binance Pre-Market Spot Trading Goes Live for Real Tokens
Sep 25, 2024 at 11:18 pm
Binance Pre-Market will enable users to trade certain tokens ahead of their official listing on the leading cryptocurrency exchange in one go.
Binance Introduced Pre-Market Service for Spot Trading on September 25, The Block First Reported the News
Binance Pre-Market enables users to trade certain tokens ahead of their official listing on the leading cryptocurrency exchange. Unlike other pre-market services that provide access only to derivatives-focused trading, the service provided by Binance includes actual token trading capability during the pre-market period.
Binance Pre-Market acts as a bridge between the Binance Spot market and the Binance Launchpool program, which allows users to obtain tokens of new projects by staking other cryptocurrencies.
Pre-market trading on Binance will be available for only some Launchpool tokens, with some restrictions. For example, while one may be permitted to buy or even sell the token before its official listing, one is not allowed to withdraw, transfer, or make any deposits of the same token until such time as its official listing.
This aspect differentiates Binance from some of its competitors, such as Bybit and Coinbase International, which also offer pre-market services but place a greater emphasis on derivatives or perpetual futures contracts for tokens that have not yet launched.
According to Binance, it is the first major exchange to offer actual trading of tokens in the pre-market phase, allowing users to engage more directly.
Binance’s Latest Pre-Market Service Faces Regional Restrictions
Despite its global presence, Binance Pre-Market spot trading is currently unavailable in several regions, including the U.S., Canada, Japan, Russia, and Spain. However, the exchange noted that users will be notified when a Launchpool token becomes available on the pre-market list.
Once trading begins, these tokens will be accessible to all Binance users except those in restricted regions. The pre-market will be closed at least four hours before listing, and another announcement will follow to indicate the commencement of regular spot trading.
RISKS DISCLOSURE: Investing in cryptocurrency can lead to substantial losses, and traders should ensure they fully understand the risks involved before making any trades. We advise traders to conduct their independent research and consult a financial advisor where necessary to ensure they fully understand the potential risks.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
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