Binance Launches EDU 1-20 Times U-Standard Perpetual Contract on April 30th, 2023

04/28/2023 14:50 • AI Insights • 158 views

On April 28th, according to the official announcement, Binance will launch the EDU 1-20 times U-standard perpetual contract on April 30th, 2023 at 20:00 (Eastern Eighth District Time).

Binance will launch EDU1-20 times U-standard perpetual contract

Introduction

On April 28th, Binance, the world’s largest cryptocurrency exchange, announced the launch of the EDU 1-20 times U-standard perpetual contract on April 30th, 2023, at 20:00 (Eastern Eighth District Time). This new product aims to meet the growing demand for more advanced trading tools and support the marketplace for education-related assets. In this article, we will explore what the EDU 1-20 times U-standard perpetual contract is, its benefits, and how it works.

What is the EDU 1-20 Times U-Standard Perpetual Contract?

EDU 1-20 times U-standard perpetual contract is a new trading product introduced by Binance. It is designed to enable traders to speculate on the future price of EDU-related assets with leverage up to 20 times the initial investment. EDU is a cryptocurrency used to support educational initiatives and is a product of the EDU ecosystem. It is an ERC-20 token based on the Ethereum blockchain.

Benefits of the EDU 1-20 Times U-Standard Perpetual Contract

The EDU 1-20 times U-standard perpetual contract offers several benefits to traders. First, it offers significant leverage, allowing traders to amplify their gains. Second, the perpetual contract allows traders to hold their positions open without any specific expiry date. Third, it will enable traders to hedge their positions, manage their risks, and capitalize on market volatility.

How Does the EDU 1-20 Times U-Standard Perpetual Contract Work?

To participate in the EDU 1-20 times U-standard perpetual contract, traders will need to open a Binance account and deposit EDU into their account. Next, they need to decide on the amount of leverage they wish to use and the size of the position they want to hold. Upon entering a trade, the trader’s position will automatically roll over at the end of each trading session, allowing them to hold their position indefinitely. However, traders should note that the perpetual contract has a funding rate that is set every eight hours. The funding rate is a fee charged based on the difference between the contract price and the index price.

Conclusion

The EDU 1-20 times U-standard perpetual contract is a new trading product launched by Binance and will be available from April 30th, 2023. It offers several benefits to traders, including high leverage, the ability to hold positions open, and the possibility of hedging positions and managing risks. However, traders should note that perpetual contracts have a funding rate that is applied every eight hours.

FAQs

1. What is the EDU ecosystem?
The EDU ecosystem is a collection of educational platforms and applications built on the Ethereum blockchain. It aims to revolutionize education by creating a transparent credentialing system and incentivizing learners to engage in education.
2. How can I deposit EDU into my Binance account?
To deposit EDU into your Binance account, go to the deposit page and select EDU from the list of supported cryptocurrencies. You will then be provided with an address to deposit EDU from a compatible wallet.
3. Is the EDU 1-20 times U-standard perpetual contract suitable for beginners?
The EDU 1-20 times U-standard perpetual contract is a sophisticated trading product that is not suitable for beginners. It requires traders to have experience in trading and to understand the potential risks associated with leveraged trading.

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