Binance Pre-Market: Features, Comparison with Other Exchanges, and Eligible Regions

Binance Pre-Market is designed to give users early access to selected Binance Launchpool tokens. The service benefits both Binance users and token projects

Binance, the world’s largest cryptocurrency exchange by trading volume, has introduced a new service called "Binance Pre-Market." This feature allows users to trade selected Binance Launchpool tokens before they officially hit the spot market.

According to a recent Binance announcement, the pre-market service is designed to benefit both Binance users and token projects. It extends the life cycle of the tokens and provides early market entry for the tokens.

Here's how Binance Pre-Market works:

When a Launchpool project is selected for pre-market trading, Binance users can continue subscribing to Launchpool as usual and will receive their allocated tokens. Once the pre-market period starts, all Binance users can trade these "pre-market" tagged tokens. This period will close at least four hours before the token’s official listing on the spot market, and Binance will issue a separate announcement for the listing date.

Binance will announce when specific Launchpool tokens are selected for pre-market trading, as well as the start and end dates for each pre-鰺market period.

Due to regulatory restrictions, some regions, including the U.S., Canada, Japan, and Spain, are not eligible to use this service, according to The Block.

Binance Pre-Market Features

Early Market Entry: Users can buy or sell tokens before they are officially listed on the spot market, presenting an opportunity to capitalize on early price movements.

Stringent Vetting: All tokens listed for pre-market trading undergo Binance’s standard vetting process before being made available to users.

No Extra Fees: Users pay only the standard spot trading fees on Binance, which are known for being competitive in the industry, the exchange reported.

Utility for Launchpool Users: Those subscribed to Binance Launchpool can take advantage of early market movements, trading their allocated tokens before the official spot market launch.

Binance vs. Other Exchanges in Pre-Market Trading

While Binance is the first to offer pre-market spot trading with actual tokens, other exchanges have introduced similar features with derivatives. For example, Bybit offers pre-market trading that relies on collateralized assets, meaning users are essentially trading contracts backed by USDT rather than the actual tokens.

Coinbase also provides a comparable service through its "pre-launch markets," which trades perpetual futures contracts for tokens before they are officially listed.

However, Binance ensures that users are directly interacting with the assets, rather than derivatives, as per the recent announcement.

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