What is Binance JEX ? This is a question that many Forex investors are interested in. Evaluated and mainly used as a crypto exchange payment platform that was acquired by Binance directly from JEX. Binance Jex offers extremely convenient trading services with the most interesting and unique features. In it, there will be some popular derivative services such as futures contracts, options or some other derivative products. Here, let 's find out more about Binance Jex with Cryptobnb
What is Binance JEX?
What is Binance JEX?
JEX was originally a Seychelles-based exchange and they offer derivative products like futures and options, as well as perpetual contracts. On September 2, 2019, Binance made an announcement about the acquisition of the entire platform. JEX platform for crypto derivatives. This can be seen as a gateway into the future and crypto options market for Binance, which will help the exchange strengthen its position in the crypto derivatives market and provide provides a full range of professional derivatives services to Binance users.
According to the announcement of Binance, the comprehensive and full development of service activities at JEX and distribution of JEX Coin will be managed by Binance. From now on, work on improving the use cases of the JEX token. This token should also be distributed more widely as a bonus to those who are in need of participating and completing various marketing tasks; The remaining tokens will be gradually burned and will also be exchanged for other methods, including the deduction of trading commissions.
Binance develops its own direction of binance JEX
Binance is also working on developing its own derivatives platform. They hold a contest and will allow clients to conduct trades on the JEX platform as well as trade on a platform developed by Binance. Traders who start trading on both Binance Futures platforms can evaluate and compare different aspects of the platform for themselves and vote in detail for their favorite platform.
In addition, the best trader has a chance to win up to 10,000 Binance Coin ( BNB ). After completing the beta test, Binance will be the platform to announce the winner based on the reviews of the bookie. Speaking of which, today's crypto derivatives market has several problems: high latency, high costs, and poor risk control. This acquisition can help Binance solve these common problems and provide better margin trading services.
Binance JEX Markets
Specifically, what is the current main operating market of Binance JEX? Take a look at some of the information below:
Binance JEX Futures Market
Trading with BTC, ETH, EOS can now be the settlement market for futures contracts. A futures contract is an agreement to buy or sell a specific asset at an agreed-upon price on a specific date. There may be in the future. It will also allow you to make transactions without having to directly own it.
Example of a futures contract
In the futures service, it allows us to achieve margin with 100x leverage, similar to the current BitMEX or SnapEX exchange.
Specific illustrative examples
Binance JEX Options Market
Options are also known as options. It is a contract between two entities in which the option buyer pays the seller a sum for the right (option) to buy (CALL) or sell (PUT) an amount of an asset. Assets based on or before the exercise date (expiry date) at the agreed price: Call to place
Binance JEX Options
Put Option Long position: Pays a premium according to the contract, has the right to buy (sell) or not buy (sell).
CALL Call: Buying a call means you are buying an asset for less than its original price.
Example: You buy a call option of 1 BTC at 9000 USDT. Accepts optional premiums. Call option is $200. After buying the call, BTC price increases by 10,000 USDT/BTC, you can still buy BTC for 9000 USDT/BTC.
So you earn 800 USDT after fees are deducted.
– After buying a call option with BTC price below 8500 USDT/BTC, you will most likely not choose to buy BTC at BTC price of 9000 USDT/BTC.
If you buy BTC at a call price of 9000 USDT you will lose 500 USDT + 200 USDT from the market price, if you do not buy the call you will lose only 200 USDT and you can buy BTC at full 8500. PUT Put: Buying a put means you are selling an asset at €8,500 above its original price.
For example, you buy a 1 BTC put option at 11000 USDT/BTC and the premium to buy the put is 200 USD. After buying the put, the price increases from BTC to 11500 USDT/BTC, you sell at the market price. At this market price of $11,500-200, you still have a profit of $300. If the BTC price does not increase, you will lose your premium.
After buying the put, BTC price dropped by 9000 USDT/BTC, now you are selling at the price of the put, You are still selling 1 BTC for 11000 USDT
Short position: you receive the contract fee and you are obligated to buy (Sell) at the request of the option buyer.
Binance JEX Spot Market
Binance JEX Spot Market
As with other regular payment methods, you only have to set a price and a limited amount to buy cryptocurrency. There are currently two markets out there, BTC and USDT.
- Price: price.
- Quantity (Cryptocurrency): The amount of Cryptocurrencies purchased.
- Amount (BTC) or USDT: The amount of BTC or USDT depends on the market.
The above is a summary of information related to Binance JEX and Traders were able to answer the question "What is Binance JEX?". Hopefully investors can grasp the information and apply it in a specific way to get the most effective transactions for themselves. Good luck.
