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BINANCE MULTI-ASSETS MODE:KNOW HOW IT WORKS

Binance Multi-Asset Mode
Binance Multi-Asset Mode

BINANCE MULTI-ASSETS MODE

Binance futures has become a money making tool for much traders lately, everyone is surging to get a binance futures account to make ends meet.

In our Last article we discussed on binance futures, knowing how to trade future contracts and a much broad view of binance futures interface.

Today we would be looking at an advantaged feature on binance futures which is called BINANCE MULTI-ASSETS MODE.

WHAT IS MULTI-ASSETS MODE?

Over the years, USDⓈ-margined futures have become very popular as everyone trades it easily on several markets.

Binance made it feasible for traders to collateralize USDT or BUSD for trading across numerous futures contracts (i.e., BTC, ETH, XRP, etc.) without purchasing their secondary crypto currencies(i.e., trading USDT/BTC or BUSD/BTC without actually having BTC).

Regardless, when trading futures with USDⓈ-margined contracts, you must have a considerable amount of USD-pegged stable coins (i.e., USDT or BUSD) to allow you have the required margin requirements.

This produces little setbacks as it is a must that Binance users must hold either of the two types of stable assets(BUSD OR USDT) in their wallets.

It was as a result of this inconvenience that Binance team created or established this new active feature in other to solve this problem.

I call it the Advantaged feature, and it’s called Multi-assets mode.

Multi-Assets Mode is a new innovative feature that allows you to trade USDⓈ-M Futures across several stable margined assets(ie.., BUSD, USDT AND BNB).

Presently, Binance Futures offers USDT-margined and BUSD-margined contracts under the USDⓈ-M Futures product line, whereby you can use either BUSD or USDT at a particular trade position, but with the new feature users will share their margin across USDT-margined and BUSD-margined contracts, not only a particular asset.  Thereby, any profits made on either contract can be used as a new margin.

This means that one position’s profits can compensate for another losing position.

Therefore, the original margin balance will be the net P&L between positions in the two markets.

For example, If Mr A has two trade positions with BUSD and USDT, and he is on 2$ loss on BUSD and 4$ profit on USDT.

The advantage of multi-asset mode is that, his Original margin balance will be the net profit and loss (PNL) between the two positions which is(4$-2$) making a New margin of 2$.

Notice that the profit of the winning position has compensated for the losing position, making futures Trading less risky.

Meanwhile, This new feature only supports the Cross Margin Mode.

HOW TO ACTIVATE MULTI-ASSET MODE

Feel free to create a new futures account following the link below.

Create Futures account.

Please note that before activating this feature you have to do the following.

BINANCE MULTI-ASSETS MODE

1. Close all open positions in USDⓈ-M Futures.

2. Close all active positions in grid trading.

3. Switch all open positions to Cross Mode.

So with this we can proceed to the Activation.

While in your USDⓈ-M Futures trading interface, go to the top-right corner.

Click on the right top corner

Select Preferences.

Select preferences

Now click on Asset mode.

Click on Asset mode
BINANCE MULTI-ASSETS MODE

Check the multi-asset mode button to turn yellow.

Check the multi-asset mode button

In case you haven’t done the above instructions correctly, the system will tell you your errors.

So make sure you follow the 3(three) instructions given above.

In summary, the Binance Futures platform gives a huge secure trading system with spontaneous execution rates and the new feature help users increase their capital efficiency.

CREATE BINANCE FUTURES ACCOUNT

If you are a newbie here, create an account on futures below and start your crypto trading journey.

Binance futures

Disclaimer: Cryptocurrencies are volatile, speculative and encompass significant risks, their actions are unpredictable and past performance doesn’t guarantee future performance, therefore you are advised to always do your research(DYOR).

 

 

 

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