Binance continues to surprise us with its progress. Today, April 6, the favorite crypto exchange of many announced that Binance Futures launches the “Hedge Mode” or “Hedge Mode”.
In this way, Changpeng Zhao, better known as CZ, announced the launch through his Twitter:
You asked for it, and we have nothing better to do during the quarantine. #buidl
CZ, CEO of Binance on Twitter
Binance listens to the community by launching Hedge Mode
Binance Futures launches the Hedge Mode which will allow users to hold opposite positions on the same contracts simultaneously.
More precisely, the crypto exchange describes the Hedge Mode as: “Through it, users can go long and short at the same time under the same contract.” While “One-Way Mode” or “One-Way Mode”, users can only hold one type of position under a contract.
In this way, the exchange explains “If you open a short position, anticipating that the price will drop in the longest period of time, but in the meantime you want to open a long to make an exchange for a shorter period of time. It will not be able to carry out both operations and, in case of doing so, they will cancel each other ”.
It is important to note that users will now be able to switch between one-way mode and coverage mode in the preference settings. If you do not change the preference settings, the default one-way mode will be set.
Likewise, to be able to access the Hedge Mode, users must ensure they have version 1.21.1 of the Binance application or higher for Android and / or version 2.10.1 or higher for iOS.
Exchange does not stop
Binance Futures also recently released Isolated Margin mode, which allows precise margin control for an open position.
It is relevant to note that, since the launch of Binance Futures, the exchange has listened to its community and, according to this, it has been incorporating new functions that have increased the prestige of the Exchange.
Also, the Twitter community seems to have received the launch quite well. User @brucefenton commented “CZ and Binance have been as impressive during the crisis as they were before. Unbreakable. Continually building ”.
Remember also that Binance Futures will be organizing a Team Trading Tournament from April 10 at 0:00:00 a.m. (UTC) until the 25 at 0:00:00 a.m. (UTC). You will have prizes of up to $ 1,000,000 on BNB!
