Have you heard about Binance Pre-Market?
Binance Pre-Market is a feature launched by Binance Spot and Binance Launchpool. This exclusive feature allows users to maximize their sales proceeds from Launchpool rewards through spot trading or acquire tokens before they are officially listed on the spot market.
How does Binance Pre-Market for cryptocurrencies work?
Before Binance Pre-Market opens, users can lock assets such as BNB or FDUSD on the Binance Launchpool feature for a certain period of time depending on the rules of the ongoing launchpool project. By locking assets, users can get free tokens that can later be traded when Binance Pre-Market opens.
What are the benefits of participating in Binance Pre-Market?
Before the official market opens, users who have locked assets can profit by trading on Binance Pre-Market. Users can maximize profits by selling tokens obtained from the launchpool or buying the tokens before they are officially listed on the spot market.
All Binance users can trade either buying or selling tokens before they are officially listed on the spot market without being a Launchpool user.
Are there any risks in participating in Binance Pre-Market?
Each Pre-Market project may have some challenges before its respective Pre-Market period ends, such as community sentiment towards the token, so the trading risk is higher than normal spot trading. Users are required to understand the Pre-Market trading rules and each Pre-Market project before entering a trade.
Who can participate in Binance Pre-Market?
Eligible users who accept the trading rules and acknowledge the potential risks of participating in Binance Pre-Market. This promotion may not be available or restricted to certain jurisdictions or regions, or to certain users, depending on legal and regulatory requirements.
Currently, users residing in the following countries or regions will not be able to participate in Super Earn: Bahrain, Canada, Crimea Region, Cuba, Donetsk (non-government controlled region of Ukraine), Dubai, Iran, Japan, Kazakhstan, Kherson (non-government controlled region of Ukraine), Lithuania, Luhansk (non-government controlled region of Ukraine), Netherlands, North Korea, Russia, Syria, United Kingdom, United States and its territories (American Samoa, Guam, Puerto Rico, Northern Mariana Islands, US Virgin Islands), Zaporizhzhia (non-government controlled region of Ukraine).
Please note that this list is not exhaustive and may be updated periodically to accommodate changes in laws, regulations, or other factors.
Rules on Binance Pre-Market.
1. Trade restrictions.
Purchase limits:
Binance Pre-Market users are subject to a maximum token holding limit that may vary for each eligible Launchpool project. If a user’s current Spot account holdings exceed the maximum holding limit, the user will not be able to purchase any more tokens in the Pre-Market. (Please note: A user’s spot holdings include balances in wallets and unfilled orders)
Sales restrictions:
There is no limit on sales.
Example:
Token Launchpool = BNB
Maximum spot holding of Pre-Market assets = 5 BNB
The amount of Pre-Market assets obtained by User A from Launchpool = 10 BNB
If User A sells 7 BNB (10 - 7 = 3 BNB), then he can only buy 2 more BNB (2 + 3 = 5 BNB).
Alternatively, User A can choose to sell all of his 10 BNB.
2. Only master accounts and regular user accounts are eligible to participate in Binance Pre-Market (sub-accounts will not have Pre-Market trading permissions).
3. Only users from certain countries are eligible to participate in Binance Pre-Market.
Some notes that every user participating in Binance Pre-Market needs to understand.
Token pairs available for Pre-Market trading will be announced along with each Pre-Market project on the Binance platform.
Users can participate in Binance Pre-Market by updating the app to 2.89.0 or above and signing a statement before trading.
Users are unable to withdraw Pre-Market tokens from Binance accounts. Deposit and withdrawal functions for Pre-Market tokens are temporarily suspended during the Pre-Market trading period.
During the Pre-Market period, the transfer function is also temporarily suspended.
Trading in Pre-Market can only be done in the master account and cannot be done in sub-accounts. If Pre-Market tokens are in a sub-account, users are advised to move the tokens from the sub-account to the master account 1 hour before the official Pre-Market opens, in order to participate in Binance Pre-Market.
Each trading period, Pre-Market will end at least 4 hours before spot trading begins. Binance will publish a separate announcement regarding the official spot listing. However, the timeline may change for each project. Users are encouraged to monitor Binance Announcements regularly.
More about Binance Pre-Market, click here.
