Binance Launches XVS 1-20 Times U-Standard Perpetual Contract

On April 12th, according to official news, Binance will launch the XVS 1-20 times U-standard perpetual contract at 10:30 on April 13th.

Binance will launch XVS 1-20 times U-standard perpetual contract

If you are an active cryptocurrency trader, you must be familiar with Binance, the world’s leading cryptocurrency exchange platform. Binance is constantly innovating and introducing new products to cater to the diverse and dynamic needs of its traders. The latest addition to its product portfolio is the XVS 1-20 times U-standard perpetual contract.
On April 12th, Binance officially announced the launch of the XVS 1-20 times U-standard perpetual contract. This product will be available for trading on April 13th at 10:30 (UTC).

What is a perpetual contract?

A perpetual contract is a derivative product that enables traders to speculate on the price movements of an underlying asset without actually purchasing the asset. Perpetual contracts allow traders to open long (buy) or short (sell) positions and leverage their trades. The leverage ratio determines the size of the position and the potential profit or loss.
Perpetual contracts are similar to futures contracts, but they do not have a fixed expiry date. Hence, they are called perpetual contracts.

What is XVS?

Before we dive into the details of the XVS 1-20 times U-standard perpetual contract, let’s first understand what XVS is.
XVS is the native token of Venus Protocol, a decentralized money market built on the Binance Smart Chain. Venus Protocol enables users to borrow, lend, and earn interest on various cryptocurrencies and assets.
XVS is a utility token that enables users to participate in governance and decision-making for the Venus Protocol ecosystem. XVS holders can also earn rewards for staking their tokens on the platform.

What is the XVS 1-20 times U-standard perpetual contract?

The XVS 1-20 times U-standard perpetual contract is a leveraged trading product that enables traders to speculate on the price movements of XVS with up to 20 times leverage. This means that traders can amplify their potential profits or losses by up to 20 times.
The contract settles in USDT, the stablecoin pegged to the US dollar. Traders can open long (buy) or short (sell) positions and manage their risk with a stop loss and take profit order.

Why trade the XVS 1-20 times U-standard perpetual contract?

The XVS 1-20 times U-standard perpetual contract offers several advantages for traders looking to maximize their profits or hedge their risks.
Firstly, the leverage enables traders to amplify their potential profits. For example, if a trader has 1 BTC and wants to invest in XVS, they can either purchase 1 BTC worth of XVS or use 20 times leverage to open a position worth 20 BTC. If the price of XVS increases by 20%, the trader would make a profit of 20 BTC instead of 1 BTC.
Secondly, the contract settles in USDT, which eliminates the volatility risk associated with holding XVS directly. This means that traders can still benefit from the bullish trend of XVS without being exposed to the downside risk.
Lastly, the perpetual contract does not have an expiry date, which means that traders can hold their positions indefinitely. This offers more flexibility and reduces the need to constantly roll over or renew the contract.

How to trade the XVS 1-20 times U-standard perpetual contract?

To trade the XVS 1-20 times U-standard perpetual contract, you need to have a Binance account and enable futures trading. You also need to have sufficient margin in your futures wallet.
Once you have fulfilled these requirements, you can go to the futures trading platform and look for the XVS perpetual contract. You can then choose your leverage, position size, and order type (market or limit). You can also set your stop loss and take profit order to manage your risk.

Conclusion

The XVS 1-20 times U-standard perpetual contract is an exciting new product that offers traders the opportunity to profit from the price movements of XVS with leverage. This contract eliminates the risk of holding XVS directly and offers more flexibility than traditional futures contracts.
If you are interested in trading the XVS 1-20 times U-standard perpetual contract, make sure to do your research and understand the risks involved. Always trade responsibly and manage your risk effectively.

FAQs:

Q1) What is a perpetual contract?
A: A perpetual contract is a derivative product that enables traders to speculate on the price movements of an underlying asset without actually purchasing the asset.
Q2) What is XVS?
A: XVS is the native token of Venus Protocol, a decentralized money market built on the Binance Smart Chain.
Q3) How to trade the XVS 1-20 times U-standard perpetual contract?
A: To trade the XVS 1-20 times U-standard perpetual contract, you need to have a Binance account and enable futures trading. You also need to have sufficient margin in your futures wallet.