Sunday, September 26, 2021
HomeNewsBinance Futures stopped in Germany - these are the alternatives -

Binance Futures stopped in Germany – these are the alternatives –

A week ago, Binance announced the end of trading in futures in Germany. We show you the alternatives to implement strategies with crypto derivatives in this country.

The end of trading in futures and derivatives at Binance for customers residing in Germany came as a surprise last week. And it should have hit many of you too, because Binance has developed into the number one platform worldwide for futures based on Bitcoin and Co. with low fees and high trading volumes. But all lamentation doesn’t help, because a quick resumption of this division at Binance Germany is not to be expected. A look at the numbers of larger crypto trading venues for futures and derivatives reveals three alternatives:

1. Bybit: This crypto exchange has attracted attention in Germany through a cooperation with the traditional club Borussia Dortmund and also offers trading in futures and derivatives in this country. The portfolio at Bybit is growing steadily, in addition to Bitcoin (BTC) and Ethereum, new crypto currencies are constantly being added. Bybit’s fee policy is fair and payments in euros are possible. In the meantime, there is also spot trading of crypto currencies at Bybit. Biggest minus point: Furthermore, there is no German-speaking support at Bybit. You can find out how Bybit works here.

2. FTX: This platform is growing rapidly and has CEO Sam Bankman-Fried at the helm, a proven crypto expert. Like Bybit, FTX also allows payments in euros. Other plus points: FTX has already translated parts of its website into German and, with over 100 futures and derivatives, offers a wide and clever range of instruments for your investment strategy.

3. BitMEX: With its launch in 2014, it is the oldest platform for Bitcoin futures. Since the German Alexander Höptner (formerly Stuttgart Stock Exchange) took over the leadership there, BitMEX seems to be calm again. With Bitcoin futures based on euros, BitMEX has a unique selling point. BitMEX also covers futures and derivatives on a good handful of important cryptocurrencies. Two negative points reduce the positive overall impression: With BitMEX you cannot yet deposit euros (the base currency is always Bitcoin) and there is no German-speaking support for BitMEX (yet).

Conclusion: Trade futures with FTX, Bybit or BitMEX

Our three recommendations for reputable trading venues for crypto futures are based on our own experience. For the same reasons, we consider other names that are often mentioned to be untrustworthy. After Binance’s withdrawal, you have this choice: Bybit with euro deposits and a slim portfolio as a good overall package for traders who speak English. BitMEX as an established class elder with good conditions for everyone who counts in Bitcoin. FTX as the most innovative platform for futures and derivatives, which also enables euro deposits and sets up German-speaking support.

Hasan Sheikh
Hasan, who loves technology and games, is studying Computer Engineering at Delhi JNU. He has been writing technology news since 2016.


Please enter your comment!
Please enter your name here

Trending News

Recent Comments