Trading bitcoin futures can be a world of opportunities. Futures have several benefits for traders, and as a CryptoCompare user reading this, you can now get $40 in USDT to trade them on Binance.
Bitcoin futures are traded across several popular cryptocurrency exchanges, and while a lot of traders use them to leverage their positions going long or short BTC, there are other uses for them. Using futures, for example, to hedge against significant price movements – which in crypto are common – could be a good idea.
Binance offers futures contracts with quarterly settlement dates, USDT and COIN-margined perpetual swaps with no expiration dates, and leveraged tokens. The first option are rather common futures contracts, that obligate the parties to transact an asset at a predetermined future date and price.
These contracts expire every quarter, and then they do both the contract buyer and the seller are obligated to execute the contract, regardless of where the price of BTC is at. Binance’s contracts are cash-delivered, meaning that when the contract is due users do not get the BTC, but instead open positions are delivered at a settlement price.
Perpetual swaps are a type of derivative with no expiry date. When traders open a perpetual swap trade they essentially bet on whether the value of an asset will rise or fall and may have to pay funding fees. The funding fees are a mechanism used to ensure convergence of the perpetual price to the spot price by the exchange.
USDT-margined perpetual swaps are similar to the traditional standard futures contracts, but have no expiration date. COIN-margined futures are settled in the asset itself instead - in most cases bitcoin - and are designed after “inverse” contracts.
Leveraged tokens are a derivative that enables traders to gain exposure to a leveraged trading position in a cryptoasset without dealing with margin trading, liquidations, collateral, nor funding rates. Each token represents a 2-to-3x leveraged exposure to the price of a cryptocurrency, which means that if a user owns BTCUP and the price of bitcoin goes up 1%, BTCUP goes up 3%.
How to Earn 40 USDT to Trade on Binance Futures
Now what we’ve looked at what trading options are available on Binance Futures, let’s look at how every CryptoCompare user can get 40 USDT to hedge their positions or speculate on the price of various cryptoassets.
To earn your bonus, all you need to do is use our link to sign up for Binance Futures. The link uses our signup code: cc10discount.
After signing up using this code, you will receive your 40 USDt bonus once you trade 1,000 USDT or an equivalent on Binance Futures. The first 500 users to sign up using the code are also getting 10% off of their trading fees for their first month.
If you already have a Binance spot account but have not yet opened a Binance Futures account, just navigate to Binance Futures and use our cc10discount code when you do so, following the screenshot seen below:
Note this is a limited time offer on a first-come-first-serve basis, limited to 500 users. You will be able to check the distribution of your bonus using Wallet > Futures Wallet.
The bonuses can be used as collateral for futures trading and are now withdrawable. Losses incurred during futures trading can be offset against the bonus. Check the campaign’s terms and conditions