### Derivatives

[CTCUSDT](https://www.bybit.com/trade/usdt/CTCUSDT?ref=K8EGERK8EGER)

You will be able to select between 1 to 25x leverage.

### Spot

[FCD/USDT](https://www.bybit.com/en-US/trade/spot/FCD/USDT?ref=K8EGERK8EGER) \| [CTC/USDT](https://www.bybit.com/en-US/trade/spot/CTC/USDT?ref=K8EGERK8EGER)

You can now use USDT to buy and sell these crypto assets with the lowest possible taker fee of 0.1%.

Explore the market in a single glance now and trade your favorite crypto today.

 [Check It Out](https://www.bybit.com/data/markets?medium=organic_content&source=blog&channel=cont_&campaign=tradingpairslisting&content=tradingpairslisting&dtpid=1643360875723&uid={{UID_HASH}}&ref=K8EGERK8EGER)

https://cdn.cryptohopper.com/images/news/uploads/1653096305-just-landed-3-new-trading-pairs.webp

We are absolutely stoked to announce that 1 spanking new Derivatives and 2 Spot trading pairs are now available for trades!

Just Landed: 3 New Trading Pairs 🔥 - Cryptohopper

Just Landed: 3 New Trading Pairs 🔥

Kraken is excited to announce that we have been named #16 in Newsweek’s Top 100 Global Most Loved Workplaces® list. We are also the only crypto company on the list. This recognition reflects Kraken’s ongoing commitment to building a flexible workplace that prioritizes employee well-being.…

The post  appeared first on [Kraken Blog](https://blog.kraken.com).

https://cdn.cryptohopper.com/images/news/uploads/1685553570-kraken-is-recognized-as-a-newsweek-top-100-global-most-loved-workplace.png

Kraken is recognized as a Newsweek Top 100 Global Most Loved Workplace

Kraken is excited to announce that we have been named #16 in Newsweek’s Top 100 Global Most Loved Workplaces® list. We are also the only crypto company on the list. This recognition reflects Kraken’s ongoing commitment to building a flexible workplace that prioritizes employee well-being.…

The post appeared first on Kraken Blog.

Kraken is recognized as a Newsweek Top 100 Global Most Loved Workplace - Cryptohopper

HKVAC is said to be a collaboration of many crypto industry players, including exchanges, institutional investors, and Hong Kong-licensed rating agencies. It was established primarily to enhance the industry’s capabilities in security risk management and to assist the Central Government and Hong Kong’s local authorities in building a world-leading hub for virtual asset and digital finance. At the same time, it commits itself to creating a safe, open and transparent environment for crypto asset investments under the guidance of “Hong Kong’s new crypto regulations.” It will also promote the acceptance and recognition of crypto assets by helping the public gain systematic, correct and secure knowledge about crypto investments.

As an exchange that always prioritizes “global security and compliance operations”, Huobi has maintained the best industry record of 100% functionality and no security incidents for ten years since its inception. Huobi will bring its expertise in security technology and its compliant, standardized processes to HKVAC as a reference. Together they can provide risk management indicators to investors in the industry and set strict rating standards to evaluate existing exchanges, so that more crypto investors can have a clear understanding of the risk level of their investments. This will accelerate the creation of a safe and friendly crypto environment in Hong Kong.

In addition, as a pioneer in establishing itself as a Web3 gateway, Huobi will join hands with HKVAC to continuously pursue multi-dimensional collaborations and advancements in technology, data, and ecosystem development. Together, Huobi and HKVAC will facilitate the application of Web3 infrastructure and build a bridge between the real world and the realm of Web3 to encourage wider acceptance and participation in Web3. These endeavors will drive the development of Hong Kong’s Web 3.0 industry and serve as the stepping stones on Hong Kong’s way to becoming a global hub for Web 3.0 (the third-generation Internet).

As previously reported, Huobi will officially launch Huobi HK. Starting June 1, Huobi HK is expected to deliver unparalleled trading experiences to Web3 users through its wide range of products. Users can trade cryptocurrencies like BTC, ETH, TRX, LTC, BCH, DOGE, SHIB, BTT, SOL, ADA, and other major cryptocurrencies listed in the independent index on Huobi HK.

A Huobi representative said that joining HKVAC will boost Huobi’s business in Hong Kong and lay the foundation for future operations that comply with laws and regulations. Meanwhile, Huobi intends to work with various parties in the industry to build the ecosystem of Web3 under the premise of policy compliance. It will start by establishing itself as a Web3 gateway to promote the development of Web3 in Hong Kong. Hopefully, Huobi will be granted a cryptocurrency trading license in Hong Kong in the near future, so that it can collaborate with the Hong Kong government, regulators, and other institutions to create a better crypto market in the region.

https://cdn.cryptohopper.com/images/news/uploads/1685504219-huobi-joins-hkvac-as-first-member-to-fuel-hong-kong-s-ambition-to-be-a-global-web3-hub.png

Huobi Joins HKVAC as First Member to Fuel Hong Kong’s Ambition to be a Global Web3 Hub

**Singapore / May 31, 2023 /** Huobi announced that it became the first member of Hong Kong Virtual Asset Consortium (HKVAC). By joining HKVAC, an organization dedicated to providing credit ratings for crypto asset exchanges and trading products. Huobi aims to develop a venture capital database that caters to the needs of the market, actively engage in educating the public about crypto investments, and offer Hong Kong traders a “one-stop” crypto asset trading service. Ultimately, with Huobi Hong Kong (Huobi HK) as the pivot, Huobi is committed to supporting Hong Kong in its efforts to become a global Web3 hub.

Huobi Joins HKVAC as First Member to Fuel Hong Kong’s Ambition to be a Global Web3 Hub - Cryptohopper

https://cdn.cryptohopper.com/images/news/uploads/1685498120-heated-debate-sparked-by-hong-kong-s-new-regulations-openness-holds-the-key-to-hong-kong-s-potential-as-a-web3-hub.png

Heated Debate Sparked by Hong Kong’s New Regulations: Openness Holds the Key to Hong Kong’s Potential as a Web3 Hub

On the evening of May 25, the second episode of the Web3 online talk show “ **Victoria’s Friends”** officially premiered. The theme of the second episode was **“New Regulations in Hong Kong: Is Web3 Entering Hong Kong Summer?”** Victoria is the co-chair of the Asia Meta Alliance, vice-chair of the Blockchain Association of Hong Kong, and the executive vice-president of the Shenzhen information service Blockchain Association. The second episode revolved around the topic of Hong Kong’s new regulations, with Victoria inviting several industry professionals and well-known Web3 influencers to engage in a lively discussion.

Heated Debate Sparked by Hong Kong’s New Regulations: Openness Holds the Key to Hong Kong’s Potential as a Web3 Hub - Cryptohopper

Founded in 2018 and originally from Ukraine, WhiteBIT is [a top 20 exchange](https://www.coingecko.com/en/exchanges) and offers a portfolio of staking and trading tools. The WhiteBIT Token offers holders benefits including 100 percent trading fees discounts, daily free AML checks, fee-free ETH and ERC20 tokens withdrawals, and an increased  referral rate. WBT is currently ranked 71st in [Coingecko](https://www.coingecko.com/en/coins/whitebit) and has a market cap of over $688 million.

“We are delighted to welcome WhiteBIT to the Bitfinex ecosystem”, **said Henry Child, Head of Tokens at Bitfinex.** “WhiteBIT shares Bitfinex’s vision to accelerate the adoption of Blockchain Technology, and works hard to offer highly secure trading and staking tools to all its users. We believe Bitfinex customers can benefit greatly from this new addition to our ecosystem.”

Bitfinex will open deposits for WhiteBIT Token on May 30, 2023 at approximately 12pm UTC. Trading of WhiteBIT Token will commence on June 1, 2023 at approximately 10am UTC, in trading pairs against the US Dollar (USD) and Tether tokens (USDt)

To obtain access to WhiteBIT on Bitfinex, customers can visit https://www.bitfinex.com/.

\*All users of www.bitfinex.com are subject to Bitfinex’s terms of service (“TOS”). Please note that U.S. persons (as defined in the TOS), among other prohibited persons (as defined in the TOS), are strictly prohibited from directly or indirectly holding, owning or operating an Account (as defined in the TOS) on www.bitfinex.com.

##

**About Bitfinex**

Founded in 2012, Bitfinex is a digital token trading platform offering state-of-the-art services for traders and global liquidity providers. In addition to a suite of advanced trading features and charting tools, Bitfinex provides access to peer-to-peer financing, an OTC market and margin trading for a wide selection of digital tokens. Bitfinex’s strategy focuses on providing unparalleled support, tools, and innovation for experienced traders and liquidity providers around the world. Visit www.bitfinex.com to learn more.

Media contact for Bitfinex

press@bitfinex.com

The post [<strong></strong>](https://blog.bitfinex.com/media-releases/bitfinex-to-list-whitebits-native-utility-token-whitebit-token/) appeared first on [Bitfinex blog](https://blog.bitfinex.com).

https://cdn.cryptohopper.com/images/news/uploads/1685441221-bitfinex-to-list-whitebit-s-native-utility-token-whitebit-token.png

Bitfinex to List WhiteBIT’s Native Utility Token, WhiteBIT Token

**ROAD TOWN, British Virgin Islands – May 30, 2023** Bitfinex (https://www.bitfinex.com/), a state-of-the-art digital asset trading platform, announced today that it will be listing WhiteBIT Token, the native utility token of WhiteBIT Exchange.

Bitfinex to List WhiteBIT’s Native Utility Token, WhiteBIT Token - Cryptohopper

1) [Download Trust Wallet here](https://share.trustwallet.com/H6U8pDHOMab). If you already have Trust Wallet, make sure your app is up to date.

2) Complete [basic setup of a multi-coin wallet](https://community.trustwallet.com/t/how-to-create-a-multi-coin-wallet/41). Remember to save your backup phrases.

3) Go to your Smart Chain wallet and press receive to find your address.

4) Deposit BEP20 assets to your wallet. The easiest way to do this is with Binance. Choose an asset on Binance that supports BEP20 withdrawals and withdraw to your Trust Wallet Binance Smart Chain address. Keep in mind that BNB is required to make any transactions on Binance Smart Chain.

![](https://static.cryptohopper.com/images/news/uploads/1604064223-how-to-set-up-and-use-trust-wallet-for-binance-smart-chain-1.png)

5) That’s it! You’re ready to start using Binance Smart Chain.

6) Once you’ve received a BEP20 token, to view your transaction ID you can click on the transaction, press the share button in the top right and then copy the transaction ID.

![](https://static.cryptohopper.com/images/news/uploads/1604064225-how-to-set-up-and-use-trust-wallet-for-binance-smart-chain-2.png)

Using Binance Smart Chain Dapps

7) For this part, iOS users will need the Dapp browser, which [you can get by following this guide](https://community.trustwallet.com/t/how-to-use-the-dapp-browser-on-ios/69390?ref=JLI1VBLA&utm_source=TrustTwitter&utm_medium=TrustSocial&utm_campaign=TrustSocial). Android users have the Dapp browser by default.

8) Once you’ve topped up your wallet, open the Dapp browser by pressing on the four squares at the bottom of the app.

9) Navigate to a Binance Smart Chain Dapp like PancakeSwap or BurgerSwap.

![](https://static.cryptohopper.com/images/news/uploads/1604064226-how-to-set-up-and-use-trust-wallet-for-binance-smart-chain-3.png)

10) Use the Dapp and have fun!

Here are some more detailed guides on how to interact with Binance Smart Chain Dapps with Trust Wallet:

- [How to send and receive BNB on Smart Chain with Trust Wallet](https://community.trustwallet.com/t/how-to-send-and-receive-bnb-on-smart-chain/67430)

- [How to Earn, Farm and Stake CAKE on PancakeSwap with Trust Wallet](https://community.trustwallet.com/t/how-to-earn-farm-and-stake-cake-on-pancakeswap-with-trust-wallet/70964)

- [Swapping BEP2 to BEP20](https://community.trustwallet.com/t/how-to-swap-twt-bep2-to-twt-bep20/72718)

https://cdn.cryptohopper.com/images/news/uploads/1604064223-how-to-set-up-and-use-trust-wallet-for-binance-smart-chain.png

How to Set Up and Use Trust Wallet for Binance Smart Chain

Here’s how you can get set up on Trust Wallet and start using Binance Smart Chain in just a couple of minutes.

How to Set Up and Use Trust Wallet for Binance Smart Chain - Cryptohopper

Leveraged Tokens (LT) simply eliminate the trade-off and allow users to gain leveraged exposure without worrying about liquidation risk and the nitty-gritty of managing a leveraged position.

While LTs have gained popularity due to this innovative feature, they have been controversial and have caused confusion among users. Historically, LTs have a poor track record of generating long-term returns when compared to traditional margin-leveraged products.

Despite its flaws, LTs continues to attract great demand from users worldwide. As such, Binance has worked towards addressing the crucial problems with existing leveraged tokens and launched the Binance Leveraged Tokens (BLVT).

What are Binance Leveraged Tokens?

Binance Leverage Tokens (BLVTs) are designed to address the issues users faced when trading with traditional Leveraged Tokens. Unlike conventional LTs, BLVTs do not maintain ‘constant’ leverage. Instead, BLVTs maintain a variable target leverage range between 1.5x and 3x.

It is tradable in the Binance Spot Advanced trading interface and tracks the BTC perpetual contracts on Binance Futures. Currently, BLVTs are offered in two types: BTCUP and BTCDOWN.

- BTCUP allows you to generate leveraged gains between 1.5 to 3x when Bitcoin goes up.

- On the other hand, BTCDOWN allows you to generate leveraged gains when Bitcoin goes down.


A BLVT tracks the change in the notional value of the perpetual contract positions and changes in leverage.

Why Trade BLVTs Over LTs?

There are several advantages of BLVTs over traditional LTs, they are Variable leverage, Rebalancing, Liquidity, and Fees.

1\. Variable vs Fixed Leverage

Currently, the most popular LT product promises a constant 3x leverage, which means users can potentially gain triple the returns of its underlying asset. For instance, if BTC appreciates by 5%, the LT should generate a 15% return to users.

Let’s take an example to understand how constant leverage in a Leveraged Token works:

1. Assume both the underlying asset and a 3x LT starts at an equal value of $100 each.

2. On Day 1, the underlying asset goes up by 5%, therefore, the 3x LT goes up by 15%

3. On Day 2, the underlying asset goes down by 5%. Likewise, the LT goes down by 15%.


The resulting P&L of both assets at T+2 will be as follows:

![](https://static.cryptohopper.com/images/news/uploads/1597747603-your-essential-guide-to-binance-leveraged-tokens-1.png)

As you can see, the price of the underlying is almost unchanged, while the 3x LT lost more than 2% from its initial value. The situation shown here is known as volatility drag. Volatility drag is the long-term, detrimental impact that volatility has on the investment. The greater the volatility and the longer the time horizon, the more detrimental the impact of volatility drag tends to be.

Most Leveraged Token users are not aware of the hidden dangers of LTs. In particular, users are not aware of how the ‘constant’ leverage of an LT impacts long-term returns, especially in markets where prices are consolidated for an extended period.

Let’s assume that the earlier example plays out over an extended period (365 trading days), where prices of the underlying remain flat and volatile in the range of +5%/-5%. Let’s take a look at the impact on the value of both securities.

![](https://static.cryptohopper.com/images/news/uploads/1597747604-your-essential-guide-to-binance-leveraged-tokens-2.png)

This example illustrates how volatility drag could impact total returns in a side-ways market. This is devastating to users that bought and held the 3x LT, thinking that it is a perfect reflection of the underlying asset.

To address this issue, BLVTs are designed to reduce the impact of volatility drag by maintaining a variable target leverage, from 1.5x to 3x. BLVTs are less impacted in side-ways markets and tend to perform better with market momentum as prices move in one direction.

2\. Rebalancing

LTs increase or decrease their exposure in the underlying asset to achieve the target leverage for the day. As the price of its underlying asset goes up, it will take on more positions. Likewise, if prices go down, it will reduce positions. This is also known as rebalancing. Traditional LTs need to be rebalanced every day to consistently maintain its objective.

For instance, assume that a 3x LT has an initial Net Asset Value (NAV) of $100 million. In line with its mandate, the LT maintains a total exposure of $300 million in the underlying asset.

![](https://static.cryptohopper.com/images/news/uploads/1597747605-your-essential-guide-to-binance-leveraged-tokens-3.png)

Now, let’s imagine that the underlying asset delivers a 5% return. Here we explain how LTs conduct daily rebalancing:

- As prices increased by 5%, the value of its exposure increased by $15 million to $315 million. As a result, the LT will gain $15 million and its NAV increased to $115 million.

- Since the total exposure is now $315 million and its NAV is $115 million, the LT is no longer at 3x leverage and we can say that the total exposure and NAV are unbalanced to one another.

- At the end of the day, the LT must rebalance by purchasing an additional $30 million worth of exposure, increasing the total exposure to $345 million, or 3x of NAV.


Likewise, as the price of the underlying asset goes down, the LT will decrease its exposure in the underlying and rebalance to maintain its constant 3x leverage.

Essentially, if users hold the position longer than a day, their exposure levels could rise or fall dramatically affecting their original investment.

Traditional LTs are programmed to rebalance at preconfigured times (daily). By being entirely predictable in rebalance, LTs are susceptible to front-running. High-frequency traders and arbitrageurs can predict the incoming trades, and profit by nibbling at the edges.

In contrast, BLVTs are not forced to rebalance unless losses are extreme. In fact, BLVTs will only rebalance the positions as needed to maximize profitability on upswings, and minimize losses to avoid liquidation. This means that ‘normal’ fluctuations in the market will not cause rebalances, and the token value will maintain its correlation with the value of its underlying asset.

3\. Market Liquidity

Binance will be the sole-liquidity provider and issuer of BLVTs, which means users will be able to buy tokens at a fair price, and if the supply of tokens runs out, Binance will inject capital, create more tokens, and sell them on the open market. This ensures that users can transact their tokens efficiently and get their orders filled at an acceptable price.

Additionally, Binance guarantees that BLVTs will be always available for sale or purchase within 10% of the NAV. There will be no 'price gouging' or any kind - no BLVTs will be available for sale on the Binance marketplace outside of these strict price limits.

4\. Transaction and Related Fees

Binance Leveraged Tokens offer lower fees as compared to other existing leveraged tokens. BLVTs charge a low daily management fee of 0.01%, with an annualized rate of only 3.5%, whereas the daily management fee of other existing tokens is as high as 0.03%.

Users of BLVTs may choose to exit their positions by selling the token into the Spot market or redeem them at the market value of its NAV. For which, trading or redemption fees will be charged to the user. Users may redeem tokens at any time, although this will generally be more expensive than selling them on the Spot market, and is not recommended during normal trading times.

There are three types of fees related to BLVTs: Trading fees, Redemption fees, and Daily management fees.

Fees

Description

Trading Fees

Trading fees are charged when buying or selling tokens in the spot market, and the fee schedule is identical to spot trading.

Redemption Fees

Redemption fees are charged when users choose to redeem tokens, which is currently set at 0.1% each redemption.

Management Fees

A daily management fee of 0.01% or so depending on the token will be charged and reflected directly in the NAV.

Additionally, users must note that the underlying leveraged positions of BLVTs carry a funding fee. These fees are paid (or paid to) the underlying fund based on the funding rate and reflected directly in the net asset value. Binance takes no fees for funding rate transfers; these are directly between traders.

In Summary

The innovations of BLVTs are designed to tackle the controversial issues of traditional Leveraged Tokens, thus, protecting users from NAV erosion caused by constant rebalancing.

In general, Leveraged tokens are not the substitute for holding assets in the spot market, and that applies to BLVT as well. However, if users predict market moves correctly, they will generally make money by trading BLVTs. It offers many viable alternatives for amplifying gains, putting less trading capital at risk, and even profiting with strong market momentum.

https://cdn.cryptohopper.com/images/news/uploads/1597311607-your-essential-guide-to-binance-leveraged-tokens.png

Your Essential Guide To Binance Leveraged Tokens

Binance has worked towards addressing the crucial problems with existing leveraged tokens and launched the Binance Leveraged Tokens (BLVT).

Your Essential Guide To Binance Leveraged Tokens - Cryptohopper

While we at Binance advocate for everyone to buy crypto, we understand that you sometimes need to sell crypto because you might need cash. And as the world’s largest crypto exchange, trusted by millions of users, we offer you some of the best methods for selling Bitcoin at the rate that’s most favorable to you. Besides, our 24/7 [Customer Support team](https://www.binance.com/en/support-center?ref=P6CD65KX) is always ready to help you if there are problems with your transaction.

But First: Explore Other Non-Selling Alternatives.

With crypto becoming more prominent day by day, there are a lot of ways for you to pay for your transactions using the crypto you have. Ask yourself the following questions:

“Will I sell Bitcoin into cash to protect myself from the price fluctuations?”

If yes, then don’t sell immediately. Explore converting your crypto into [stablecoins such as BUSD](https://www.binance.com/en/blog/421499824684900886/?ref=P6CD65KX). Using stablecoins protects your cryptos' fiat valuation without needing to cash out and incurring fees in the process.

“Is there a way for me to pay for my transactions using crypto?”

If yes, then we suggest opting for those methods. Most of the time, opting for crypto payments can end up costing you less than going through the hassle of converting crypto into fiat.

One great way to use crypto to pay for your expenses is the [Binance Card](https://www.binance.com/en/cards?ref=P6CD65KX), which allows you to use the crypto on your Binance account to pay for your bills anywhere in the world. The card is now available in many countries in Europe, with more areas to follow soon. Get one now, and you may not need to cash out for long.

Now, if after those questions, you still need to convert crypto into your local currency, then we’re here to help you regardless.

[Sell Bitcoin into Cash on Binance’s Buy and Sell Crypto Page](https://www.binance.com/en/buy-sell-crypto?type=SELL&amount&ref=41606034?utm_source=blog&utm_medium=copy&utm_term=cta-blog&utm_content=fiat&utm_campaign=en-sell-crypto)

For a streamlined manner of selling Bitcoin and turning that into cash, the Binance Cash Gateway offers a simplified and secure way for you to directly convert BTC into USD, EUR, and other currencies you may need at the moment.

[![](https://static.cryptohopper.com/images/news/uploads/1612796024-how-to-sell-your-bitcoin-into-cash-on-binance-2021-update-1.png)](https://www.binance.com/en/buy-sell-crypto?type=SELL&amount&ref=41606034?utm_source=blog&utm_medium=copy&utm_term=cta-blog&utm_content=fiat&utm_campaign=en-sell-crypto)

[Convert Bitcoin into Cash with P2P Trading](https://p2p.binance.com/?ref=VJ9G6UC4?utm_source=blog&utm_medium=copy&utm_term=cta-blog&utm_content=p2p&utm_campaign=en-register)

Sell Bitcoin directly to other Binance users to exchange them for your local fiat currency. Browse a [variety of Bitcoin listings](https://c2c.binance.com/en/trade/buy/BTC) to shop for the best offers on Bitcoin from other users. To place an order, you must first place your Bitcoin (or other cryptocurrencies) into the P2P wallet portion of your account.

Trade Your Bitcoin for Fiat and Withdraw Them From Your Account

Over the past few months, we’ve launched support for the storage of fiat currencies like Euro (EUR), Brazilian reais (BRL), Australian dollar (AUD), British pound (GBP), and the Turkish lira (TRY) on your Binance account. If you need to sell your Bitcoin into any of the following supported fiat currencies, all you need to do is to sell Bitcoin in the corresponding trading pair, then withdraw the fiat currency you earned from that transaction.

[Use the Convert and OTC Portal to Sell Bitcoin](https://otc.binance.com/en?utm_source=blog&utm_medium=copy&utm_term=cta-blog&utm_content=otc&utm_campaign=en-otc)

The newly launched Convert and OTC Portal allows you to convert the BTC you have on your account into select fiat currencies that the portal supports. While this platform is available for large-scale transactions, you can get access to friendlier rates for your deal than what’s on the open market through this platform.

Use Our Fiat-to-Crypto Partners to Sell Bitcoin into Cash

Depending on where you are in the world, Binance can offer you many options on where to sell Bitcoin into cash

### [Binance.US](https://www.binance.us/?ref=35014894) \- Convert Bitcoin into US dollars (USD)

### [Binance.SG](https://www.binance.sg/)\- Convert Bitcoin into Singapore dollars (SGD)

### [Binance.IN](https://www.binance.com/en-IN?ref=P6CD65KX) \- Convert Bitcoin to Indian Rupees (INR)

[Binance.BR](https://www.binance.com/pt-BR?ref=P6CD65KX) - Convert Bitcoin to Brazilian Real (BRL)

Note: Each of these platforms has its own registration processes.

[![](https://static.cryptohopper.com/images/news/uploads/1612796025-how-to-sell-your-bitcoin-into-cash-on-binance-2021-update-2.png)](https://www.binance.com/en/download?utm_source=blog&utm_medium=copy&utm_term=cta-blog&utm_content=app&utm_campaign=en-binance-app)

https://cdn.cryptohopper.com/images/news/uploads/1612796022-how-to-sell-your-bitcoin-into-cash-on-binance-2021-update.png

How to Sell Your Bitcoin Into Cash on Binance (2021 Update)

Following our guide on how to buy Bitcoin, we now provide you with various available options on how to convert BTC into fiat currency on Binance and our partner platforms. (This blog has been updated as of February 2021.)

How to Sell Your Bitcoin Into Cash on Binance (2021 Update) - Cryptohopper

Grid trading is when orders are placed above and below a set price, creating a grid of orders at incrementally increasing and decreasing prices. In this way, it constructs a trading grid. For example, a trader could place buy-orders at every $1,000 below the market price of Bitcoin while also placing sell-orders at every $1,000 above Bitcoin’s market price. This takes advantage of ranging conditions.

Grid trading performs the best in volatile and sideways markets when prices fluctuate in a given range. This technique attempts to make profits on small price changes. The more grids you include, the greater the frequency of trades will be. However, it comes with an expense as the profit you make from each order is lower.

Thus, it is a tradeoff between making small profits from many trades, versus a strategy with lower frequency but generates a bigger profit per order.

Let’s examine how it works.

Suppose you expect Bitcoin to hover in a price range between $50,000 to $60,000 in the next 24-hours. In this case, you could set up a grid trading system to trade within this predicted range.

On the grid trading panel, you could set parameters of the strategy, including:

- The upper and lower boundaries of the price range,

- The number of orders to be placed within the configured price range,

- The width between each buy- and sell-limit order.


![](https://static.cryptohopper.com/images/news/uploads/1615541741-what-is-grid-trading-a-crypto-futures-guide-1.png)

In this scenario, as the price of Bitcoin falls towards $55,000, the grid trading bot will accumulate buy positions on the way down at a lower price than the market. As prices recover, the bot will sell on the way up at a higher price than the market. This strategy essentially attempts to profit from price reversions.

[![](https://static.cryptohopper.com/images/news/uploads/1615541742-what-is-grid-trading-a-crypto-futures-guide-2.png)](https://accounts.binance.com/en/register?ref=&source=futures&return_to=aHR0cHM6Ly93d3cuYmluYW5jZS5jb20vZW4vZnV0dXJlcw%3D%3D&utm_source=internal&utm_medium=blog&utm_campaign=grid_trading_post)

Set-up Your First Grid Trading Strategy

The grid trading bot systematically executes buy- and sell-limit orders based on the user’s parameters. Here’s how you can set-up your first grid trading bot.

First, launch your grid trading panel by clicking on the Grid Trading tab located on the top right-hand corner of the Binance Futures trading interface.

![](https://static.cryptohopper.com/images/news/uploads/1615541742-what-is-grid-trading-a-crypto-futures-guide-3.png)

The first parameter that you must select is the contract on which the trading bot will be deployed. In this example, we will be using BTCUSDT perpetual contract.

![](https://static.cryptohopper.com/images/news/uploads/1615541743-what-is-grid-trading-a-crypto-futures-guide-4.png)

Next, determine the type of margin for the grid trading position: Isolated or Cross margin modes. In an isolated margin mode, the margin is independent in each trading pair. Meanwhile, the margin is shared between all trading pairs in the futures account for cross margin mode.

After that, select your desired leverage amount. Leverage magnifies both gains and losses. With leverage, you can magnify relatively small price movements to potentially create profits that justify your time and effort. But do bear in mind that leverage is a double-edged sword, and you must use it prudently.

![](https://static.cryptohopper.com/images/news/uploads/1615541744-what-is-grid-trading-a-crypto-futures-guide-5.png)

The lower and upper price boundaries are the two most essential inputs you must determine before launching the grid trading bot. This determines the range within which your limit orders will be placed. The lowest boundary will be your last buy-limit order, while the highest boundary line will be your last sell-limit order.

Next, you choose from two predefined modes: The arithmetic mode constructs each grid with an equal price difference, while the geometric mode constructs each grid with an equal price ratio difference. Remember to set the number of grids; this will determine the number of orders populated within your pre-determined grid range.

![](https://static.cryptohopper.com/images/news/uploads/1615541745-what-is-grid-trading-a-crypto-futures-guide-6.png)

Lastly, assign the initial margin of the position. The system will calculate your Initial Margin value based on the number of grids, leverage, and the strategy’s price range.

Note that the denser the grid, the greater the corresponding initial margin.

Please ensure that your available balance and maintenance margin is higher than the initial margin to avoid liquidation. And finally, click Create to place the grid order.

[![](https://static.cryptohopper.com/images/news/uploads/1615541746-what-is-grid-trading-a-crypto-futures-guide-7.png)](https://accounts.binance.com/en/register?ref=&source=futures&return_to=aHR0cHM6Ly93d3cuYmluYW5jZS5jb20vZW4vZnV0dXJlcw%3D%3D&utm_source=internal&utm_medium=blog&utm_campaign=grid_trading_post)

Advanced Features

The grid trading bot also comes with enhanced functions that enable you to better manage your positions and risk. One of which is the trigger price. The Trigger price is a predetermined price level at which the grid trading bot will be activated. This allows you to dictate when the system will be active when market conditions meet your criteria.

When a grid trade is triggered, the system divides the asset price range into several grid levels according to your parameters and sets pending orders for each price level. When the asset’s price falls, a buy order is executed, and a sell-order is placed immediately at a high price. When an asset’s price rises, a buy-order is placed directly at a lower price as soon as a sell order is executed. This strategy sets you up to buy low and sell high and allows you to make profits in volatile market conditions.

Additionally, you can set a stop-loss for your grid positions. Once the asset’s price crosses below or above the stop loss range, your entire grid position will be closed. This feature protects your position from incurring outsized losses when the market behaves unfavorably.

To monitor trading activity, click the Active Grid Tab to find grid trading details.

Lastly, click Terminate to end the grid trading system.

Benefits of Grid Trading

The main advantage of grid trading is that it allows you to trade cryptocurrencies systematically without forecasting the market direction. In ranging markets, grid trading tends to be more effective, but the question is, will it be applicable when prices are trending?

Even in trending markets, volatility continues to exist, especially in short timeframes where prices fluctuate rapidly due to a surge in trading activity. Grid trading benefits from small price changes and allows you to capitalize on increased market volatility. It is also convenient as it eliminates the need to place orders and monitor real-time market movements manually.

When grid trading, you are essentially a liquidity provider to the exchange. By placing multiple buy- and sell-limit orders across the order-book, you are increasing market liquidity; this is favorable to a cryptocurrency exchange.

As a liquidity provider, you will pay “maker” fees, which is usually cheaper than “taker” fees. Therefore, it lowers your overall transaction costs.

Grid trading always sets you up to buy at prices lower than the market or sell at prices higher than the market. Thus, when markets suffer from large price swings (5% up, then 10% down, etc.), grid trading enables you to take advantage of these spikes by providing liquidity with a grid trading bot to transform them into a tidy profit.

Grid Trading Tips

Determining a reasonable price range is the key to ensure your strategy’s profitability. This means that you need to be extremely selective on market conditions suitable for your strategy to avoid being on the wrong side of a trending market.

Importantly, you must ensure that proper risk management measures are in place. Therefore, you must determine a suitable leverage ratio and set appropriate take-profit and stop-loss orders to avoid losses caused by market fluctuations. For example, if a sell order is placed, a stop loss should be above the top of the price range, and if a buy order is placed, a stop loss should be below the bottom of the range.

![](https://static.cryptohopper.com/images/news/uploads/1615541747-what-is-grid-trading-a-crypto-futures-guide-8.png)

Lastly, ensure that your grid trading parameters are compatible with the prevailing market conditions. Especially in range-bound markets, limits orders placed out of range are unlikely to get filled and, as such, causing missed opportunity. The grid trading parameters can be adjusted in real-time according to the prevailing market conditions.

Grid trading is ideal for novices who want to trade in a systematic approach. Don’t miss the opportunity to capitalize on market volatility. Grid trading is available on USDT-margined futures. Explore it today!

[![](https://static.cryptohopper.com/images/news/uploads/1615541748-what-is-grid-trading-a-crypto-futures-guide-9.jpg)](https://accounts.binance.com/en/register?ref=&source=futures&return_to=aHR0cHM6Ly93d3cuYmluYW5jZS5jb20vZW4vZnV0dXJlcw%3D%3D&utm_source=internal&utm_medium=blog&utm_campaign=grid_trading_post)

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What is Grid Trading? (A Crypto-Futures Guide)

Grid trading is a robot that automates the buying and selling of futures contracts.

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Your Essential Guide To Binance Leveraged Tokens

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What is Grid Trading? (A Crypto-Futures Guide)

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