The User Experience of Futures Trading on Three Crypto Exchanges

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Before we get started, let’s first check the background information: As a beginner investor who has just joined the crypto sector and tried entry-level products like spot trading on several exchanges, I now plan to venture into the futures market and earn more profits by trading futures. Today, let’s check out how I opened a futures position on three crypto exchanges (Binance, KuCoin, and CoinEx) and see which platform provides the best functions (PS: personal experience & for reference only).

Let’s begin with the futures segment of Binance, which primarily covers crypto futures that include USDT-M Futures (linear contracts), Coin-M Futures (inverse contracts), Binance Leveraged Tokens, and Binance Options. More specifically, users can trade USDT-M Futures and Coin-M Futures directly on the Binance webpage. To trade Binance Options, however, investors must also download the Binance app. As for Binance Leveraged Tokens, since there are no operating guides, novices who are not familiar with leveraged tokens might get confused at the very beginning.

Here, I went with USDT-M Futures and entered the BTC/USDT futures market. As shown in the picture below, the left side of the page shows the current market conditions and the order book, while users can select the margin model and order type on the right side of the page. On Binance, users can place 7 types of orders, including Limit, Market, Stop Limit, etc., and choose to buy long or sell short. After opening a position, they can check open orders and trade history at the bottom of the page.

It should be noted that users must go through KYC authentication before trading futures