In this article I will tell you what the most popular alternatives to Binance Bitcoin futures are, so that you can continue to buy your futures contracts. It is wise to do your own research into the various exchanges, so that you can better determine which future exchange suits you.
In many countries, for example, it is no longer possible to use Binance futures . That is a thorn in the side for all crypto traders who were only too happy to buy Crytocurrency-futures from Binance. They have to look for an alternative. And that’s no problem, because there are plenty of alternatives. Sometimes these alternatives are even cheaper than Binance.
Not quite sure what crypto trading futures are and how they work ? Then I advise you to continue reading after the alternatives. Because after I’ve discussed the best alternatives, I’ll give you more explanation about crypto future trading.
Binance once seemed like the most powerful and largest crypto exchange in the world that no one could compete with. The exchange was widely used in every country, and after the rollout of the Binance Smart Chain (BSC) things went better than ever.
Because crypto trading became more and more popular, and higher amounts went around, governments decided to provide crypto trading with strict laws and regulations in 2021.
List of the Best Alternatives to Binance Bitcoin Futures Trading
You are probably here because you want to find the best alternatives to Binance futures. That’s why I’m going to start this article right away! Would you first like to know more about what futures are and how they work? Then I advise you to scroll down and read the explanation about futures.
The best-known alternative that you will come across in this list is perhaps BitMEX . Besides the fact that you can go here for futures, it is also a very popular exchange for spot trading (normal crypto trading).
BitMEX offers several futures contracts:
- Swap contracts
- Normal futures contracts
The normal futures contracts have an expiration date. The rules regarding these contracts can change by the day, so I recommend you keep an eye on the BitMEX website to stay informed. Would you like to see more information about BitMEX’s normal futures contracts? Then click here.
The swap contracts are continuous and more liquid than the normal futures contracts. This is because more crypto traders are trading these swap contracts. To use these swap contracts, you have to pay funding every 8 hours . This funding is a kind of interest that you pay for the use of the swap contract, and is a percentage of the value of the entire position.
As a result, the price of the swap contract also remains equal to the value of the underlying product (such as Bitcoin or Ethereum ).
Will the price of the swap contract be higher than the index price? Then the long position pays funding to the short positions. When the price of the swap contract falls below the index price, the short positions pay funding to the long positions.
The swap contracts are always worth $1, and it is possible to set a leverage of up to 100x.
Click here to get started at BitMEX
It is also possible to buy futures at Deribit. These futures are cash based , which means that a buyer of a BTC future is not actually buying Bitcoin. The same applies to the sale of a BTC future; Bitcoin is not actually being sold.
The crypto trader ultimately pays his loss, or receives a profit.
It is possible to buy both Bitcoin and Ethereum futures at Deribit . There are several rules attached to this, which can be changed over time. Would you like to read current information about the futures that Deribit offers? Then click here.
These are the transaction costs for futures at Deribit:
- Maker Fee: 0.00%
- Taker Fee: 0.075%
Click here to get started at Deribit
Bakkt is part of the ICE , which stands for Intercontinental Exchange. In 2019, they received permission from the US Commodity Futures Trading Commission to offer Bitcoin futures.
The biggest difference between Bakkt and other exchanges where you can buy futures is that at Bakkt you pay with Bitcoin . Normally you bet dollars to purchase a future contract. Customers’ Bitcoins are then kept in a special vault to ensure security.
You can buy future contract at Bakkt between 14:00 and 12:00 the next day , and the contract size is equal to 1 Bitcoin (minimum price fluctuation of $2.50 per Bitcoin or contract. At Bakkt you pay $1.25 per future contract If you would like more information about Bakkt’s futures contracts, click here!
Kraken Futures used to be known as Crypto Facilities but has changed its name since it was acquired by Kraken in 2019.
At Kraken Futures you could originally buy Bitcoin futures contracts, although it is now also possible to buy futures contracts with dollars for:
- Ripple XRP
- Bitcoin Cash
The platform is considered less clear by many crypto traders, partly due to the dark appearance. Yet this is not the most important part of a crypto exchange.
The contract size at Kraken Futures is $1 , and there is a maximum leverage of 50x . Would you like to learn more about Kraken Futures’ futures contracts? Then click here .
Click here to get started with Kraken Futures
Quedex is a Bitcoin futures exchange, licensed and operating under Gibraltar’s TLD law. That means it is the world’s first regulated exchange for crypto futures.
When using Quedex, it is possible to leverage up to 10x on Bitcoin futures. This exchange also uses a special mechanism that makes it impossible to get a negative balance on your account. The mechanism calculates when you will be in the minus, and ensures that contracts are already sold for this by means of automatic actions.
These are the transaction costs for futures with Quedex:
- Maker Fee: 0.03%
- Taker Fee: 0.05%
Do you want to start at Quedex? Then click here
Despite the fact that it is no longer possible to buy futures with Binance, there is no reason to panic. There are more than enough alternatives for crypto futures trading. You can go to:
- Kraken Futures
Trading in futures has many advantages . This makes it possible to achieve a higher return with relatively less money. This is due to the use of the leverage, which ensures that your bet is increased without actually betting a higher amount.
However, this of course also means that trading in futures involves much more risk . You can also lose more money than the money you have wagered. That is why it is important that you know what you are trading with.
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