In a recent announcement, Binance has launched its much-anticipated Pre-Market Spot Trading service. Unlike its competitors, Binance offers spot trading of actual tokens rather than derivatives before their official listing, allowing users to secure early positions on tokens prior to their spot market launch.
Binance Launches Pre-Market Spot Trading!
As previously reported on Deythere, crypto exchanges are constantly expanding their offerings to improve customer satisfaction. Binance, the world’s largest cryptocurrency exchange, has just rolled out a new service. On Wednesday, the exchange revealed, “Binance is the only crypto exchange offering pre-market spot trading, enabling users to hold and trade tokens on the platform before their official listing.”
A Binance spokesperson noted that while many exchanges allow pre-market trading, most of these platforms typically provide access to derivatives rather than actual tokens. Binance is now the first exchange to offer pre-market trading of real tokens, providing a unique advantage to its users.
How Does Binance’s Pre-Market Stand Out?
One of Binance’s main competitors, Bybit, also offers pre-market trading. However, unlike Binance, it relies on derivatives rather than actual tokens. Bybit states on its website, “Buyers and sellers must secure their assets on the platform, which serves as collateral and ensures timely payment. All transactions are conducted in USDT.” This means tokens are locked as collateral until their release.
Meanwhile, Coinbase’s pre-launch market service focuses on trading perpetual futures contracts for tokens that have not yet been released. Coinbase recently explained, “Once the underlying token launches on spot exchanges, these contracts seamlessly convert into standard perpetual futures contracts.”
How Does Binance Pre-Market Work?
The Pre-Market service is a joint effort between Binance Spot and Binance Launchpool. It allows users to stake BNB and other tokens to acquire new project tokens. Only selected Binance Launchpool tokens will be available for pre-market trading. Currently, users hold Launchpool tokens until their official Binance listing. However, with the introduction of Pre-Market, users will now be able to trade these tokens, though with withdrawal, transfer, and deposit limits until the official listing.
When a Launchpool project is ready for pre-market trading, Binance will make an announcement, including the start date. During the pre-market phase, users can buy and sell tokens labeled “pre-market” up until four hours before the official spot listing. Binance has also stated that pre-market services will not be available in specific regions, including the United States, Canada, Dubai, Japan, the Netherlands, Russia, and Spain.
This service, designed to cater to Binance’s global user base, could mark a significant shift in how users engage with token listings, providing earlier access to tokens and positioning Binance as a leader in the crypto space.
Binance, Pre-Market Trading, Launchpool, Spot Market, Early Access
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