[ETH-PERP](https://www.bybit.com/trade/futures/usdc/ETH-PERP?medium=organic_content&source=blog&channel=cont_&campaign=fut_imcct_all_usdcperp_aug22aug22_en&term=nil_nil_link_1x1&content=all_awa_pro_nil_nil&dtpid=1659338091021&ref=K8EGERK8EGER) \| [SOL-PERP](https://www.bybit.com/trade/futures/usdc/SOL-PERP?medium=organic_content&source=blog&channel=cont_&campaign=fut_imcct_all_usdcperp_aug22aug22_en&term=nil_nil_link_1x1&content=all_awa_pro_nil_nil&dtpid=1659338091027&ref=K8EGERK8EGER) \| [GMT-PERP](https://www.bybit.com/trade/futures/usdc/GMT-PERP?medium=organic_content&source=blog&channel=cont_&campaign=fut_imcct_all_usdcperp_aug22aug22_en&term=nil_nil_link_1x1&content=all_awa_pro_nil_nil&dtpid=1659338091032&ref=K8EGERK8EGER) \| [ADA-PERP](https://www.bybit.com/trade/futures/usdc/ADA-PERP?medium=organic_content&source=blog&channel=cont_&campaign=fut_imcct_all_usdcperp_aug22aug22_en&term=nil_nil_link_1x1&content=all_awa_pro_nil_nil&dtpid=1659338091038&ref=K8EGERK8EGER) \| [AVAX-PERP](https://www.bybit.com/trade/futures/usdc/AVAX-PERP?medium=organic_content&source=blog&channel=cont_&campaign=fut_imcct_all_usdcperp_aug22aug22_en&term=nil_nil_link_1x1&content=all_awa_pro_nil_nil&dtpid=1659338091043&ref=K8EGERK8EGER) \| [XRP-PERP](https://www.bybit.com/trade/futures/usdc/XRP-PERP?medium=organic_content&source=blog&channel=cont_&campaign=fut_imcct_all_usdcperp_aug22aug22_en&term=nil_nil_link_1x1&content=all_awa_pro_nil_nil&dtpid=1659338091048&ref=K8EGERK8EGER)

You will be able to select between 1 to 50x leverage.

Ready to get started? Trade your favorite crypto now!

The above USDC Perpetual Contracts are currently available for trading on Bybit’s web version. They will soon be supported on Bybit's app in the upcoming version, please update your app in order to trade new USDC Perpetual Contracts on the go.

[Check It Out](https://www.bybit.com/trade/futures/usdc/BTC-PERP?medium=organic_content&source=blog&channel=cont_&campaign=fut_imcct_all_usdcperp_aug22aug22_en&term=nil_nil_link_1x1&content=all_awa_pro_nil_nil&dtpid=1659338091054&ref=K8EGERK8EGER)

https://cdn.cryptohopper.com/images/news/uploads/1659769260-new-arrivals-6-usdc-perpetual-contracts.webp

🔥 New Arrivals: 6 USDC Perpetual Contracts

We're thrilled to announce the continued expansion of our product offerings — 6 new USDC Perpetual Contracts — are now live!

🔥 New Arrivals: 6 USDC Perpetual Contracts - Cryptohopper

https://cdn.cryptohopper.com/images/Blogposts/kraken.jpg

Kraken Daily Market Report for August 13 2022

Overview

Daily spot trading volume: $393.7 million, 30 day average spot: $582.7 million.

Total futures notional: $110.7 million.

The top five traded coins were, respectively, Ethereum (↑1.2%), Bitcoin (↑0.12%), Tether (↓0.01%), Solana (↑2.2%), Polygon (↑9.8%).

Strong returns from Universal Market Access (↑18%), Integritee (↑12%), and Secret (↑12%).

Kraken Daily Market Report for August 13 2022 - Cryptohopper

For now, seize this opportunity to top up your wallet balance!

[Deposit](https://www.bybit.com/user/assets/home/overview?medium=organic_content&source=blog&channel=cont_&campaign=lp_imcct_all_launchpad_aug22aug22_en&term=defylp_nil_link_1x1&content=all_awa_pro_nil_nil&dtpid=1660271754217&ref=K8EGERK8EGER)

For more information, please refer to our [Help Center article](https://www.bybit.com/en-US/help-center/HelpCenterKnowledge/bybitHC_Article?language=en_US&id=000001373&medium=organic_content&source=blog&channel=cont_&campaign=lp_imcct_all_launchpad_aug22aug22_en&term=defylp_nil_link_1x1&content=all_awa_pro_nil_nil&dtpid=1660272299854&ref=K8EGERK8EGER) .

https://cdn.cryptohopper.com/images/news/uploads/1660461542-defy-defy-on-launchpad-subscription-and-lottery-start-soon.webp

DEFY (DEFY) on Launchpad: Subscription and Lottery Start Soon

Subscription and lottery for the highly anticipated DEFY (DEFY) project will start soon!

On Aug. 15, 2022, 3.30AM – 10:59AM UTC, head to the Bybit Launchpad and click on the **Commit Now** button to subscribe to the DEFY allocation with BIT or commit USDT for a lottery ticket.

DEFY (DEFY) on Launchpad: Subscription and Lottery Start Soon - Cryptohopper

It’s important to remember that behind every trading product, event, and partnership is a group of dedicated and passionate people who live and breathe crypto. At Bybit, they’re lovingly known as Bybuddies! Once a month, our **Meet the Bybuddies** series invites members of the Bybit team to share their thoughts and experiences on the crypto industry.

In this second installment of Meet the Bybuddies, meet **Luke Liu — Head of Spanish Region**.

**Tell us a bit about yourself!**

I was born in China and studied in the United Kingdom, Hong Kong SAR and Japan. After my studies, I returned to China and worked all around the country in the northern, southern, eastern and western parts — basically all four corners — for more than a year each. I’ve also worked in Vietnam, Japan, Singapore, Mexico, the United States, and Argentina.

My career history spans a broad spectrum of work, where I managed various teams and departments across functions such as procurement, strategy, customer service, and operations.

I’ve also launched new businesses in different industries dealing with tech. The projects I’ve worked on are namely online platforms offering services like ride-hailing, food delivery, video streaming, webcomics, and image-sharing.

**What does a day in your life at Bybit look like?**

My day starts with checking the progress of my team’s Objectives and Key Results (OKR) data, followed by checking on the progress and effectiveness of key actions taken by my team to achieve our OKRs.

Collaboration is a great aspect of work at Bybit. On a daily basis, I could be examining promotional videos and user feedback from our affiliates, or gathering my team in group huddles with other teams to strategize how we might leverage new products for the LATAM market.

No work day is complete without constant communication with my team. I often speak with the team to learn about the development of our projects.

**Which is your favorite Bybit product and why?**

Bybit Earn products. I’m still learning how to trade and Bybit Earn makes me feel safe.

**Do you see crypto as a force for good?**

Yes, and I can especially vouch for this in Latin America (LATAM), the region my team takes care of. In LATAM, crypto helps people live better and hedge against inflation rocketing to the sky.

**Who is your biggest inspiration in the crypto community?**

My uncle. He’s really knowledgeable about lots of topics— including crypto, which he studied extensively. When I first started out, he wrote notes on crypto concepts to help me understand it better.

The notes he shared are very long, but they basically capture his opinion on how crypto will change the world and how it impacts our life.

**What interested you in crypto when you were learning from your uncle?**

The uncertainty and certainty of the future. It is certain that crypto will change everybody's life dramatically, but how so is what is uncertain.

**What sort of projects can our friends in LATAM expect in the coming months?**

Our job is to deep dive into the user’s needs in these countries and provide what they need. More payment methods are what users can probably expect.

**What are you most excited about in the crypto industry?**

I’m most excited for new ideas that we can hardly predict — the precariousness of the industry is what makes crypto so fascinating, isn’t it?

**Thank you Luke for sharing your thoughts and stories with us!**

The present outlook on crypto may bear weight on our sights, but we don’t have to succumb to market anxiety. As Luke suggests, [Bybit Earn](https://www.bybit.com/en-US/earn/home?medium=organic_content&source=blog&channel=cont_&campaign=imcct_imcct_all_meetbybuddy_aug22aug22_en&term=nil_nil_link_1x1&content=all_awa_pro_nil_nil&dtpid=1660300585313&ref=K8EGERK8EGER) products are a great way to grow and safeguard your assets with the best-in-class security to sustain yields in a volatile crypto climate. In fact, [Shark Fin](https://blog.bybit.com/post/introducing-bybit-shark-fin-low-risk-principal-protected-blt8f24bcf5fd75ff8c/?medium=organic_content&source=blog&channel=cont_&campaign=imcct_imcct_all_meetbybuddy_aug22aug22_en&term=nil_nil_link_1x1&content=all_awa_pro_nil_nil&dtpid=1660300585323) — our latest addition to Bybit Earn — is a principal-guaranteed product that allows you to capitalize on the expansion and contraction of volatility for a chosen crypto asset. No sink, just swim.

P/S: Don’t have a cool uncle who is knowledgeable in crypto to answer your questions about trading? Fret not, for [Bybit Learn](https://learn.bybit.com/?medium=organic_content&source=blog&channel=cont_&campaign=imcct_imcct_all_meetbybuddy_aug22aug22_en&term=nil_nil_link_1x1&content=all_awa_pro_nil_nil&dtpid=1660300585328) is always here to guide you on your journey.

https://cdn.cryptohopper.com/images/news/uploads/1660461543-meet-the-bybuddies-luke-liu.png

Be it stormy crypto seas or clear skies to the moon, Bybit is here to stay. We take our philosophy of “Listen, Care, and Improve” to heart, with this ethos extending to every product and service we offer.

Meet the Bybuddies: Luke Liu

Kraken Daily Market Report for August 12 2022

Overview

Daily spot trading volume: $496.2 million, 30 day average spot: $590.4 million.

Total futures notional: $89.4 million.

The top five traded coins were, respectively, Tether (↓0.01%), Bitcoin (↑1.9%), Ethereum (↑4.2%), USD Coin (↑0.0%), Solana (↑6.3%).

Strong returns from BSX (↑42%), Balancer (↑15%), and Energy Web Token (↑12%).

Kraken Daily Market Report for August 12 2022 - 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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🔥 New Arrivals: 6 USDC Perpetual Contracts

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

Your Essential Guide To Binance Leveraged Tokens

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

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

Start trading with Cryptohopper for free!

Free to use - no credit card required

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