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Unavailability of Futures and Derivates Products?

Earlier yesterday, Binance released a community update in which they announced a phased shuttering of their futures and derivatives products across Europe.

In the first stage of this shut-down, Binance announced that its customers in Germany, Italy, and the Netherlands no longer have the option to open new futures and derivatives trading accounts. The new policy has an immediate effect on these countries. It is expected to cover other European countries in the near future.

In subsequent phases, Binance customers with existing futures and derivatives accounts will be given 90 days to shut these accounts down. No date has yet been given as to when this policy change will take effect.

Implications for personal asset management

This recent move by Binance may well be part of a general trend in which centralized exchanges distance themselves from more risky asset classes, at least in Europe but potentially also elsewhere. This has at least two important implications for personal asset management.

Firstly, traders looking to capitalize on the higher risk but also higher rewards involved in futures and derivatives trading will now have to look elsewhere for help in reaching their financial goals. Secondly, the move adds yet another reason for individuals to look to alternatives to centralised exchanges in general.

Decentralised finance

An obvious solution to both of these issues is offered by decentralised finance (DeFi). DeFi leverages advances in computer science and cryptography to offer asset exchanges free of the interference and fees associated with centralised exchanges. In DeFi, functions normally carried out by financial middlemen are instead executed by fully automated smart contracts.

As the myriad issues associated with traditional, centralised exchanges become ever more obvious, the advantages of DeFi platforms are thrust into sharp relief. Traders may well be disconcerted not only by this singular announcement by one of cryptocurrencies biggest centralized exchanges viewed in isolation but also by the direction of the general trend of which it may be part.

Enter FNDZ

Our vision at FNDZ is to provide the world’s best fully operational DeFi copy trading platform. Copy trading is a type of social trading in which novice or busy traders select strategies operated by more seasoned and involved traders. They then simply deposit funds into the smart contract operating that vault. Quite literally the trades of the selected vault are thus copied; the FNDZ user can simply sit back and relax while their selected trader carries out all the hard work. In exchange for a small fee, the FNDZ user reaps the same reward as veteran traders and fully engaged professionals.

At FNDZ, individual traders enjoy all the benefits afforded by DeFi architecture: fully transparent and automated transactions, rules, and fees; lower costs due to the removal of unnecessary middlemen; participation in governance and rule-setting; and full ownership of their underlying assets.

FNDZ users can browse individual trader profiles and leaderboards to find vault operators with risk and asset distributions that suit their tastes and risk appetites. Unlike in traditional copy trading platforms or centralized exchanges, FNDZ users retain ownership of their assets and can redeem them at any point.

Those affected by the recent Binance announcement as well as onlookers questioning the general trend need to look no further for a safe, secure, transparent, and easy-to-use alternative. DeFi is the future of finance and FNDZ is a big part of that future.


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