Binance, one of the largest stock exchanges in the world, announced that it will stop all FTX transactions the other day. Investors who trade with FTX in Binance will not be able to benefit from this service as of March 31. But BitMax has now rushed to the aid of these investors.
Adding to BitMax
BitMax added FTX parities to the stock market in October 2019, such as BTCBULL, BTCBEAR, XRPBULL and XRPBEAR. The company released a new announcement today in the morning and made FTX users happy.
FTX traders will now be able to trade with different tokens using BitMax. BitMax will add 14 different parities to the stock exchange in total. We can list these trading parities as follows:
ETHBULL / USDT, ETHBEAR / USDT, LTCBULL / USDT, LTCBEAR / USDT, EOSBULL / USDT, EOSBEAR / USDT, BNBBULL / USDT, BNBBEAR / USDT, ALTBULL / USDT, ALTBEAR / USDT, EXCHBULL / USDT, EXCHBEAR / USDT
BITMAX users in Turkey today at 17: from 00 to FTX tokens will be able to start depositing. Investors will be able to trade as of March 30, 17:00 local time.
Announcement of Binance
Using these FTX tokens, traders could trade futures with leverage rates of up to 3 times as if they were trading in the spot market.
These tokens attracted many investors at the beginning. Because investors could easily make futures using these tokens and earn more money than they would normally. But this also meant that the level of risk was high. In fact, the risk surface of trading with these tokens is so high that many people liken these transactions to gambling.
Binance announced yesterday that many investors will stop these transactions because they do not “understand enough” their FTX transactions. Names like Selcoin criticized Binance’s move and said it was a rip-off.