We’re thrilled to announce that Kraken now supports deposits and withdrawals of Tether (USDT) via the Solana network! Solana is an open source blockchain platform and scaling solution for decentralized applications (dApps). The platform uses a novel consensus mechanism known as proof-of-history (PoH) to increase…

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

https://cdn.cryptohopper.com/images/news/uploads/1678979240-usdt-deposits-and-withdrawals-available-via-the-solana-network.png

USDT deposits and withdrawals available via the Solana network!

We’re thrilled to announce that Kraken now supports deposits and withdrawals of Tether (USDT) via the Solana network! Solana is an open source blockchain platform and scaling solution for decentralized applications (dApps). The platform uses a novel consensus mechanism known as proof-of-history (PoH) to increase…

The post appeared first on Kraken Blog.

USDT deposits and withdrawals available via the Solana network! - Cryptohopper

We are pleased to announce that Kraken has filed a pre-registration undertaking (PRU) with the Ontario Securities Commission. This PRU is a step on the road to becoming registered as a Restricted Dealer across Canada and demonstrates our commitment to following the Canadian Securities Administrators’…

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

https://cdn.cryptohopper.com/images/news/uploads/1680185937-kraken-remains-committed-to-canada.png

We are pleased to announce that Kraken has filed a pre-registration undertaking (PRU) with the Ontario Securities Commission. This PRU is a step on the road to becoming registered as a Restricted Dealer across Canada and demonstrates our commitment to following the Canadian Securities Administrators’…

The post appeared first on Kraken Blog.

Kraken remains committed to Canada

**1.** [**Do Kwon Extradition Sought by U.S., South Korea, Says Montenegro Justice Minister**](https://www.coindesk.com/policy/2023/03/29/do-kwon-extradition-sought-by-us-south-korea-montenegro-justice-minister-says/?ref=blog.bitvavo.com)

The extradition of TerraForm Labs founder Do Kwon from Montenegro has been requested by both the U.S. and South Korea, Justice Minister Marko Kovac said at a press conference. Kwon was arrested at Podgorica airport last week. Extradition proceedings will take place only after a separate case for forgery of identification documents, Kovac said.

**2.** [**North Korean hackers using stolen crypto to mine more crypto via cloud services: Report**](https://cointelegraph.com/news/north-koreans-using-stolen-crypto-to-mine-more-crypto-with-cloud-services-report?ref=blog.bitvavo.com)

The North Korean cybercrime operator APT43 is using cloud computing to launder cryptocurrency, a report from cybersecurity service Mandiant has found. According to the researchers, the North Korean group uses “stolen crypto to mine for clean crypto.” Mandiant, a Google subsidiary, has been tracking the North Korean Advanced Persistent Threat (APT) group since 2018.

**3.** [**Bitcoin falls after CFTC sues crypto exchange Binance for allegedly breaking trading rules**](https://www.cnbc.com/2023/03/27/bitcoin-drops-after-cftc-sues-crypto-exchange-binance-for-allegedly-breaking-trading-rules.html?ref=blog.bitvavo.com)

Cryptocurrencies dropped on Monday morning after the CFTC sued Binance, the biggest crypto exchange in the world, for allegedly violating trading rules. In a court filing, the CFTC, or the Commodity Futures and Trading Commission, said Binance violated eight provisions of a commodities trading law “designed to prevent and detect money laundering and terrorism financing.”

**4.** [**Tested on Ethereum, StarkWare’s Zero-Knowledge Proofs Are Now Live on Bitcoin**](https://decrypt.co/124715/tested-ethereum-starkware-zero-knowledge-proofs-are-live-bitcoin?ref=blog.bitvavo.com)

The newly launched ZeroSync Association is bringing zero-knowledge proofs (ZKPs) to Bitcoin (BTC), allowing users to validate the state of the network without the need to download hundreds of gigabytes of blockchain history or trusting a third party.

**5.** [**Arbitrum Shows Just How Messy (and Tricky) Crypto Airdrops Can Be**](https://www.coindesk.com/tech/2023/03/29/arbitrum-shows-just-how-messy-and-tricky-crypto-airdrops-can-be/?ref=blog.bitvavo.com)

It’s been around a week since the Arbitrum airdrop, when the largest Ethereum layer 2 platform by transaction volume distributed its long-awaited governance token to community members. What’s clear by all accounts is that while users managed to successfully claim over $1 billion worth of tokens, the process was anything but smooth – mired by bugs, frustrations and scammers looking to take advantage of the chaos.

* * *

**\[Dutch\] Welkom bij onze wekelijkse update. Hier vindt u een kort overzicht van nieuws en gebeurtenissen in de cryptomarkt.**

**1.** [**Uitlevering van Do Kwon gevraagd door de VS en Zuid-Korea, zegt minister van Justitie van Montenegro**](https://www.coindesk.com/policy/2023/03/29/do-kwon-extradition-sought-by-us-south-korea-montenegro-justice-minister-says/?ref=blog.bitvavo.com)

De uitlevering van Do Kwon, de oprichter van TerraForm Labs, uit Montenegro is aangevraagd door zowel de VS als Zuid-Korea, zei minister van Justitie Marko Kovac tijdens een persconferentie. Kwon werd vorige week gearresteerd op de luchthaven van Podgorica. De uitleveringsprocedures zullen plaatsvinden na de rechtszaak wegens vervalsing van identiteitsdocumenten, zei Kovac.

**2.** [**Noord-Koreaanse hackers gebruiken gestolen crypto om meer crypto te minen via cloudservices: rapport**](https://cointelegraph.com/news/north-koreans-using-stolen-crypto-to-mine-more-crypto-with-cloud-services-report?ref=blog.bitvavo.com)

De Noord-Koreaanse cybercrime operator APT43 gebruikt cloud computing om crypto wit te wassen, zo blijkt uit een rapport van cyberbeveiligingsdienst Mandiant. Volgens de onderzoekers gebruikt de Noord-Koreaanse groep "gestolen crypto om schone crypto te minen." Mandiant, een dochteronderneming van Google, volgt de Noord-Koreaanse Advanced Persistent Threat (APT) groep sinds 2018.

**3.** [**Bitcoin zakt nadat CFTC crypto exchange Binance aanklaagt wegens vermeende overtreding van handelsregels**](https://www.cnbc.com/2023/03/27/bitcoin-drops-after-cftc-sues-crypto-exchange-binance-for-allegedly-breaking-trading-rules.html?ref=blog.bitvavo.com)

Cryptokoersen daalden maandagochtend nadat de CFTC Binance, de grootste crypto exchange ter wereld, had aangeklaagd wegens vermeende schending van handelsregels. In een rechtszaak zei de Commodity Futures and Trading Commission (CFTC), dat Binance acht bepalingen van een wet op de handel in grondstoffen had geschonden "die bedoeld is om het witwassen van geld en de financiering van terrorisme te voorkomen en op te sporen".

**4.** [**Getest op Ethereum, StarkWare's Zero-Knowledge Proofs zijn nu live op Bitcoin**](https://decrypt.co/124715/tested-ethereum-starkware-zero-knowledge-proofs-are-live-bitcoin?ref=blog.bitvavo.com)

De nieuw gelanceerde ZeroSync Association brengt zero-knowledge proofs (ZKP's) naar Bitcoin (BTC). HIermee kunnen gebruikers de status van het netwerk valideren zonder honderden gigabytes aan blockchain geschiedenis te downloaden of een derde partij te vertrouwen.

**5.** [**Arbitrum laat zien hoe rommelig (en lastig) crypto airdrops kunnen zijn**](https://www.coindesk.com/tech/2023/03/29/arbitrum-shows-just-how-messy-and-tricky-crypto-airdrops-can-be/?ref=blog.bitvavo.com)

Het is ongeveer een week geleden dat Arbitrum de airdrop uitvoerde. Het grootste Ethereum layer 2 platform qua transactievolume deelde toen zijn langverwachte governance token uit aan leden van de community. Hoewel gebruikers erin slaagden om meer dan $1 miljard aan tokens te claimen, verliep het proces allesbehalve soepel. Er waren veel bugs, frustraties en oplichters die wilden profiteren van de chaos.

https://cdn.cryptohopper.com/images/news/uploads/1680162897-this-week-in-crypto-30th-of-march.png

_Please find the Dutch version below._

**\[English\] Welcome to our weekly update. Here you’ll find a brief overview of the main news and happenings in the crypto market.**

This Week in Crypto - 30th of March

ARB is Arbitrum’s native token. With ARB, holders can vote on key decisions governing Arbitrum One and Arbitrum Nova – networks that provide faster and cheaper transactions on the Ethereum blockchain. Arbitrum is an Ethereum layer-two scaling solution aiming to improve speed, scalability and cost-efficiency on Ethereum. Another benefit is the higher throughput and lower fees compared to Ethereum. Right now, Arbitrum processes Ethereum transactions through a method called an optimistic rollup, and settles these on a sidechain before reporting back to Ethereum. Read more about [Arbitrum](https://arbitrum.io/?ref=blog.bitvavo.com).

[Interested in this asset? Join our 1 million+ users and start trading.](https://account.bitvavo.com/create?locale=en&ref=blog.bitvavo.com)

* * *

\[Dutch\] Vanaf vandaag is Arbitrum (ARB) beschikbaar op het Bitvavo platform voor handel. We ondersteunen opnames voor Arbitrum in april, stortingen zullen later beschikbaar komen.

ARB is de native token van Arbitrum. Houders van ARB kunnen stemmen over belangrijke beslissingen binnen Arbitrum One en Arbitrum Nova - netwerken die snellere en goedkopere transacties op de Ethereum-blockchain aanbieden. Arbitrum is een Ethereum layer-two scaling oplossing die gericht is op het verbeteren van snelheid, schaalbaarheid en kostefficiëntie op Ethereum. Een ander voordeel is de hogere doorvoer en lagere kosten in vergelijking met Ethereum. Op dit moment verwerkt Arbitrum Ethereum-transacties via een methode die 'optimistic rollup' wordt genoemd, dit wordt gedocumenteerd op een sidechain voordat het op Ethereum wordt vastgelegd. Lees meer over [Arbitrum](https://arbitrum.io/?ref=blog.bitvavo.com).

[Geïnteresseerd in deze asset? Maak een account aan bij Bitvavo en handel vandaag nog.](https://account.bitvavo.com/create?locale=nl&ref=blog.bitvavo.com)

https://cdn.cryptohopper.com/images/news/uploads/1680104240-bitvavo-lists-arbitrum-arb.png

_Please find the Dutch version below._

\[English\] From today on, the token Arbitrum (ARB) is listed on the Bitvavo platform for trading. We will support withdrawals for Arbitrum in April, while deposits will be made available at a later date.

Bitvavo lists Arbitrum (ARB)

**Version 1.68**

**Features**

- Updated Paper Trading labels and their symbols to yellow and added a link to the knowledge base article in  the Paper Trade ribbon
- Updated to add a copy icon for saving API Key values
- Updated to add block customer function by admin in Bitfinex Pulse

**Improvements**

- Updated the Credit/Debit Card ‘Continue” button to display a redirecting-to-third-party screen when loading
- Updated the Credit/Debit Cards crypto and fiat ‘Amount’ fields’ conversion behaviour so, both reflect the change in input

**Bug Fixes**

- Fixed Pie Chart tooltip label
- Fixed the Order Book colours when in the loading state
- Fixed the Order form top menu overflow issue
- Fixed the issue of order lines, positions and alerts becoming hidden when loading a previously saved layout
- Fixed Limit Orders text overlapping with dialogue issue
- Fixed Market Watch dropdown menu items rendering issue
- Fixed to add missing translations for results from the Search bar
- Fixed the need to refresh the page to perform a consecutive cryptocurrency withdrawal
- Fixed a max amount value rounding issue for Tether withdrawals
- Fixed the USD equivalent slider-synchronised calculation on Lightning Network deposits
- Fixed fiat currency symbols on bank transfer withdrawals
- Small visual fixes to the smart contract notice on ETH cryptocurrency deposits
- Fixed an issue with the address list not showing after refresh and ‘back’ navigation on QR code in cryptocurrency deposits
- Fixed an issue of template options not being updated after a new template is saved
- Fixed the ‘min’ limit visualised on OpenPayd bank transfer deposits
- Fixed small navigational issues on Tether withdrawals
- Fixed inability to complete XRP withdrawal form having a whitelisted tagless address
- Fixed character validation on OpenPayd postcode
- Fixed the Lightning Network withdrawal QR code scanner to auto-fill the withdrawal form
- Fixed the text colour for OpenPayd bank instruction fields
- Fixed an issue on the withdrawal USD equivalent amount field and prevented ‘e’ notation for large amounts
- Fixed the disabled currencies withdrawals so that the proper notice appears when attempted
- Fixed the help link with Tether information in the Tether deposit modal
- Fixed to avoid the Tipping switch showing “0” in the edit profile UI for Bitfinex Pulse
- Fixed to redirect the customer to the profile feed when clicking “View on full page”
- Fixed to disable the public post button for unverified customers of Bitfinex Pulse
- Fixed the issue of some hyperlinks not being clickable in Bitfinex Pulse


* * *

The Bitfinex APIs are designed to allow complete access to the features provided by Bitfinex. Learn more about our API documentation [here](http://docs.bitfinex.com/docs).

The post  appeared first on [Bitfinex blog](https://blog.bitfinex.com).

https://cdn.cryptohopper.com/images/news/uploads/1680103519-change-log-version-1-68.png

The Bitfinex Change Log is an overview of all performance and UI changes made to the Bitfinex trading platform. For an overview of all previous changes, please refer to blog.bitfinex.com/category/changelogs.

Change Log: Version 1.68

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)

https://cdn.cryptohopper.com/images/news/uploads/1615541739-what-is-grid-trading-a-crypto-futures-guide.png

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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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!

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USDT deposits and withdrawals available via the Solana network!

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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

Automate
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trading!