Binance Includes ETC/USDT Perpetual Contracts
When year 2020 began, Binance started announcing various additions to its services. The world’s renowned crypto exchange added support for a number of fiat currencies worldwide. Its latest announcement noted the addition of Turkish Lira [TRY] to allow the binding of users’ Visa cards for the purchase of BTC, ETH, BNB, and XRP.
As stated in a blog published by the firm, it is set to start supporting MasterCard and other currencies soon. In December 2019, the firm said it had started supporting the purchase of cryptocurrency by binding Visa cards.
Since then, EUR and GBP have been added. The support is available in 31 countries and the firm’s CEO, Changpeng Zhao [CZ], said the firm will support all 180 fiat currencies this year. The firm also launched ETC/USDT perpetual contracts to provide leverage up to 75x.
The blog noted that the trade will open on January 16, 2020 (08:00 AM UTC) and users will have the opportunity to choose between 1 to 75x leverage.
Binance is going to put in place a pricing limit of ±1% on the market price in the first 15 minutes when trading begins. This is towards the prevention of market manipulation. In recent times, the firm likewise launched XRP/USDT Futures Contracts with maximum 75x leverage, after it announced the addition of ALGO/USDC, FTM/USDC, ONT/ USDC, XLM/ USDC, and USD/USDC trading pairs.
Binance maintains that the addition of the trading pairs is towards improving liquidity and user trading experience. The firm has been in the news for some time now due to the launch of high leverage contracts for its Futures platform and Ethereum is one of the first contracts to be launched.