Binance, the world’s largest cryptocurrency exchange by trading volume, has launched a new type of token that it says will offer users “leverage” when trading digital assets.
The new token, called Binance Leveraged Token (BLVT), is a ERC20 token that is pegged to the price of Bitcoin (BTC) and Ether (ETH). When users buy BLVT, they are buying a token that tracks the price of BTC or ETH and gives them leverage of up to 3x.
If the price of BTC goes up by 1%, the price of BLVT will go up by 3%. If the price of BTC goes down by 1%, the price of BLVT will go down by 3%.
NOTE: Warning: Leveraged tokens are highly-speculative, high-risk tools and should be used only by experienced traders who understand the risks and rewards associated with them. Leveraged tokens involve a considerable degree of risk, including extreme volatility, low liquidity, and the potential for complete loss of capital. Leveraged tokens are not suitable for all investors, so please ensure you understand how they work and the risks involved before investing in them.
The launch of BLVT comes as Binance prepares to launch its own margin trading platform, which is currently in beta testing. The platform will allow users to trade with leverage of up to 20x on a variety of digital assets.
The new token is designed to offer a similar experience to margin trading, but without the need to actually borrow funds from Binance.
BLVT is available for trading on Binance’s spot and margin trading platforms. The token is currently only available for BTC and ETH, but Binance plans to add more assets in the future.
Binance says that the new token is designed for “advanced traders” and that it is not suitable for everyone. The exchange advises users to carefully consider their risk tolerance before investing in BLVT.
6 Related Question Answers Found
Binance Leveraged Tokens (BLVT) are a new type of token that allows users to trade with leverage on the Binance platform. BLVTs are ERC20 tokens that are backed by Binance’s native token, BNB. Each BLVT represents a position in a underlying asset, with the leverage ratio determined by the token’s price.
Binance Leveraged Tokens are a new type of cryptocurrency that allows users to trade with leverage. Leverage is a financial term that refers to the use of debt to increase the potential return of an investment. For example, if you have a 1:5 leverage, it means that for every dollar you invest, you can trade with $5 worth of cryptocurrency.
Binance Leveraged Tokens Rebalance
Introduction
Binance, the world’s largest cryptocurrency exchange by trading volume, has launched a new type of token that allows users to get exposure to the price movements of major cryptocurrencies without having to actually hold the underlying asset. These so-called “leveraged tokens” track the price of their underlying asset and rebalance automatically when the price changes, in order to maintain a constant leverage ratio. The launch of these tokens follows a similar move by BitMEX, another major cryptocurrency derivatives exchange, which launched its own leveraged tokens earlier this year.
Binance Leveraged Tokens are a new type of cryptocurrency token that offers leveraged exposure to the underlying asset. For example, a 3x Leveraged Token on Binance would offer 3 times the price exposure to the underlying asset. Binance Leveraged Tokens are currently available for BTC, ETH, XRP, BCH, LTC, EOS andBNB.
Binance Leveraged Tokens (BLVT) are a type of cryptocurrency token that allows users to trade with leverage, or margin. Leveraged trading allows users to trade with more money than they have in their account, by borrowing money from a broker or exchange. This can lead to higher profits, but also higher losses.
Binance is a cryptocurrency exchange that provides a platform for trading various cryptocurrencies. Binance Wallet is a cryptocurrency wallet developed by Binance that allows you to store, send, and receive cryptocurrencies. Binance Wallet is a software wallet that is available for both iOS and Android devices.
