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#Binance is one of the world's largest cryptocurrency exchanges, providing a platform for trading various cryptocurrencies. It offers a wide range of services including spot trading, futures trading, staking, savings, and more.
#Spot trading
refers to the buying and selling of financial instruments, such as cryptocurrencies, commodities, or securities, for immediate delivery and settlement. In the context of cryptocurrency, spot trading on platforms like Binance involves exchanging one cryptocurrency for another at the current market price. It's a straightforward transaction where assets are bought or sold for immediate delivery, as opposed to futures trading where contracts are bought or sold for delivery at a later date.
#Futures trading
involves buying or selling contracts that obligate the buyer to purchase or sell an asset (such as commodities, currencies, or cryptocurrencies) at a predetermined price on a specified future date. This type of trading allows investors to speculate on the future price movements of assets without actually owning them. It involves a higher level of risk compared to spot trading but also offers the potential for higher returns. On platforms like Binance, users can engage in futures trading by trading cryptocurrency futures contracts with leverage, allowing them to amplify their potential profits or losses.