The Opportunities and Risks in Binance Battle Trading

TutorialsJanuary 4, 2022

Udemy.com – Top Online Cryptocurrency Courses from $9.99 Get now!

Binance Battle is a battle for reward points based on the price of Binance Futures perpetual futures pairs. Each Binance Battle usually happens very quickly, and some rules make it more convenient for participants to profit. The following article will explain some of the opportunities and risks of participating in Battle Binance.

Rules in Battle Binance

To win the Battles on Binance, users need to achieve a closing price more significant than the opening price for a Long order and an opening price more important than the closing price for a Short order.

In each Battle, after pressing Long or Short and being assigned a player by the system, and whether winning or losing, the participant receives bonus points. It depends on whether the participant wins or loses and wins in the first 10 seconds or after 10 seconds for Binance to calculate the bonus points. See details on how to calculate Binance reward points here.

During the first 10 seconds, the player cannot manually close the order but only exit the Battle with the previously activated Take Profit or Stop Loss order. After 10 seconds, the system displays the [End Battle] button. Participants can manually end the Battle or wait 5 minutes to close automatically.

Image source: Binance

Every Battle is displayed as a market order with Take Profit and Stop Loss orders in Isolated Margin. Take profit and stop-loss levels are determined as a percentage of the opening price. As follows:

For a Long order, stop loss = opening price – opening price*0.13% and take profit = opening price + opening price * 0.17%. The Battle ends automatically. The participant determines as a loser when the latest price is less than or equal to the stop-loss price. Conversely, the participant chooses to win and exit the Battle when the newest price is greater than or equal to the take profit price.

The Short command works similarly to the Long order.

* See more: The complete guide Binance from a to z

Instructions on how to see the battle results

While in Battle, the number running in the middle of the horizontal bar is the current price of the futures contract being predicted. Lose Price on the left is the price that hits the stop loss, the player loses, and the Win Price on the right is the take profit. The price touches this level the player wins.

At the end of the match, the results are displayed on the screen, and the player can continue to participate in another Battle if desired.

In addition, users can review Battle trading results at My Results. Players also receive a badge corresponding to the number of points earned in the right corner of the screen below the Long/Short order section. The number of rewards depends on the number of badges the user receives. Points can help users get extra rewards.

Users can also track the rankings of traders who have won the most points on Battle. The leaderboard will rank investors according to the number of points accumulated in the Point tab and the consecutive wins in the Winning Streak tab.

Binance Battle Trader Rewards

Battle players have the opportunity to receive rewards based on point ranking and winning streak ranking. All players who score 1,500 points or more are shared a reward of 0.8 BTC from Binance. Rewards per person = (Total points of all players / Total points of all qualified players)*0.8 BTC.

In addition, all players with the longest winning streak receive 0.1 BTC. Other players with winning streaks of 8 times or more share a reward of 0.6 BTC. The reward for each qualified player = (Total Score of All Users / Total Score of All Eligible Players) * 0.6 BTC.

Risks when participating in Battle Binance

Although when participating in Battle, win or lose, you will receive points. New players may find this to be a fairly safe form. However, the player needs to determine when participating in the Battle, the player has the choice of Long or Short, and the results are available in 5 minutes. It isn’t easy to make an accurate guess without a lot of experience. Then the chance for the player is 50-50. However, players need to remember that each time participates in a Battle, the player incurs the same fees as when trading Binance Futures. Therefore, the chances for an inexperienced person are no longer 50-50. It is an important note before choosing to enter this market. Mainly when the player uses leverage, the risk to face is higher.

Investiki.com

Read more: Binance

guest
0 Comments
Inline Feedbacks
View all comments