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What is going on at Binance?


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The recent announcement by Binance regarding the discontinuation of their leveraged tokens has sent shockwaves through the crypto community. This decision, effective April 3rd, 2024, leaves many investors scrambling for alternative solutions.

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Recent legal challenges faced by Binance have undoubtedly impacted its operations, with the discontinuation of leveraged tokens being just one consequence. This decision leaves many traders searching for alternative platforms to pursue their leveraged trading strategies.

While competitors like OKX offer leveraged tokens as well, Bitget stands out with its superior user interface, diverse product offerings, and commitment to regulatory compliance. This, combined with the ongoing challenges faced by Binance, makes Bitget an even more compelling choice for leveraged token traders.

Bitget's commitment to innovation and user experience positions it as the natural successor to Binance in the leveraged token space. This is further reinforced by Bitget's recent strategic partnerships with industry leaders like Ankr and Avalanche, solidifying its position as a reliable and trustworthy platform.

For the safety and longevity of the crypto ecosystem, I am glad to see the diverse array of options at the traders fingertips and that when misfortunes like that of Binance occur, there will always be reliable CEXs to mitigate its impact!

what are your thoughts? Do you have or know someone that trades with Binance? what will be your advice to them?

 

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On 21/02/2024 at 20:41, XTRAVAGANZA said:

I trade leveraged futures on Binance so I'm going to miss them, not that much though cos I also use Bitget exchange, and they have high liquidity and low fees, So I will just move my funds there and continue leveraged trading.

Their derivatives feature is quite user friendly & easy to use.! Also can use that during copy trading,best for both worlds!

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