Binance Pre-Market Now Launched for Real Token Spot Trading
Key Points:
- Binance introduced a service allowing users to trade select tokens before their official listing.
- Unlike competitors, Binance offers actual tokens for trading during the pre-market phase, with restrictions on withdrawals and transfers until the tokens are officially listed.
- Binance Pre-Market service is available to all users except in restricted regions like the U.S. and Canada, with trading ending four hours before the official listing.
Binance introduced a pre-market service for spot trading on September 25, 2024, The Block first reported the news.
Read more: Binance Trading Volume Surpasses $100 Trillion Amid Bullish Market
Binance Pre-Market Spot Trading Goes Live for Real Tokens
Binance Pre-Market will enable users to trade certain tokens ahead of their official listing on the leading cryptocurrency exchange in one go. Unlike other pre-market services that give access only to derivatives-focused trading, the service provided by Binance includes actual token trading capability during the pre-market period.
The Binance Pre-Market is responsible for the function of spot trading between the Binance Spot market and the Binance Launchpool program. This Launchpool allows users to get tokens of new projects by staking other cryptocurrencies.
Pre-market trading on Binance will be available for only some Launchpool tokens, with some restrictions. For instance, though one may be allowed to buy or even sell the token before its official listing, one is not allowed to withdraw, transfer, or make any deposits of the same token until such time as its official listing.
That makes Binance different from some of its competitors, including Bybit and Coinbase International, which also provide pre-market services but have a greater concentration on derivatives or perpetual futures contracts for tokens that have not yet launched.
According to Binance, it is the first major exchange to actually offer trading of tokens in the pre-market phase, thus giving users a more direct form of engagement.
Regional Restrictions Apply to Binance’s Latest Pre-Market Service
With all its international acclaim, Binance Pre-Market spot trading is currently unavailable in different parts of the world. These include, among others, the U.S., Canada, Japan, Russia, and Spain. The exchange did note, though, that when a Launchpool token becomes available on the pre-market list, users shall be notified.
Once trading starts, these tokens will be available to all Binance users, excluding those in restricted regions. The pre-market will be closed at least four hours before listing, and another announcement will then declare the opening of regular spot trading.
| DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
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Binance Pre-Market Now Launched for Real Token Spot Trading
Key Points:
- Binance introduced a service allowing users to trade select tokens before their official listing.
- Unlike competitors, Binance offers actual tokens for trading during the pre-market phase, with restrictions on withdrawals and transfers until the tokens are officially listed.
- Binance Pre-Market service is available to all users except in restricted regions like the U.S. and Canada, with trading ending four hours before the official listing.
Binance introduced a pre-market service for spot trading on September 25, 2024, The Block first reported the news.
Read more: Binance Trading Volume Surpasses $100 Trillion Amid Bullish Market
Binance Pre-Market Spot Trading Goes Live for Real Tokens
Binance Pre-Market will enable users to trade certain tokens ahead of their official listing on the leading cryptocurrency exchange in one go. Unlike other pre-market services that give access only to derivatives-focused trading, the service provided by Binance includes actual token trading capability during the pre-market period.
The Binance Pre-Market is responsible for the function of spot trading between the Binance Spot market and the Binance Launchpool program. This Launchpool allows users to get tokens of new projects by staking other cryptocurrencies.
Pre-market trading on Binance will be available for only some Launchpool tokens, with some restrictions. For instance, though one may be allowed to buy or even sell the token before its official listing, one is not allowed to withdraw, transfer, or make any deposits of the same token until such time as its official listing.
That makes Binance different from some of its competitors, including Bybit and Coinbase International, which also provide pre-market services but have a greater concentration on derivatives or perpetual futures contracts for tokens that have not yet launched.
According to Binance, it is the first major exchange to actually offer trading of tokens in the pre-market phase, thus giving users a more direct form of engagement.
Regional Restrictions Apply to Binance’s Latest Pre-Market Service
With all its international acclaim, Binance Pre-Market spot trading is currently unavailable in different parts of the world. These include, among others, the U.S., Canada, Japan, Russia, and Spain. The exchange did note, though, that when a Launchpool token becomes available on the pre-market list, users shall be notified.
Once trading starts, these tokens will be available to all Binance users, excluding those in restricted regions. The pre-market will be closed at least four hours before listing, and another announcement will then declare the opening of regular spot trading.
| DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
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