Important Binance Update Concerning Solana (SOL) and Other Altcoin Traders: Details

TL;DR

• Binance introduced more monthly options along with new trading pairs for margin trading.
• It recently launched an official WhatsApp channel for updates while warning users about potential scams.

Expanding the List of Offerings

The world’s biggest crypto exchange said it will launch SOL/USDT and BNB/USDT monthly options from November 26. Those European-style contracts enable traders to speculate on the future price of certain digital assets against Tether (USDT) with a fixed monthly expiration date. 

Further support from a leading platform like Binance usually positively affects the prices of the involved cryptocurrencies. Solana (SOL) and Binance Coin (BNB) had both registered some mild gains in the last 24 hours but later retraced alongside the rest of the market.

Besides introducing the aforementioned options, the exchange added new trading pairs to its margin program. Those included in the cross-margin and isolated margin sections are CATI/USDC, FDUSD/USDC, HBAR/USDC, OM/USDC, RAY/USDC, and TAO/USDC. 

“Binance Margin strives to enhance user trading experience by continuously reviewing and expanding the list of trading choices offered on the platform, allowing for greater diversification of user portfolios and flexibility with trading strategies,” the company stated.

Binance Stretches to WhatsApp

Updates surrounding the company are quite frequent, and they are not always focused on listing or delisting efforts.

Last week, for example, Binance launched an official channel on the messaging application WhatsApp as part of its mission to “make crypto more accessible.” There, users will receive recent news, product developments, event announcements, and educational content about blockchain technology, cryptocurrencies, and Web3. 

“For your security, please note that this is Binance’s only official channel on WhatsApp. We encourage users to follow only the official Binance channels to avoid unauthorized sources or potential scams. Our Telegram and Discord channels will remain available, providing multiple options for staying connected with Binance,” the firm added.

Among the people giving their two cents on the effort was the exchange’s CEO, Richard Teng. While maintaining that the WhatsApp channel will help users “stay informed with trusted news, alerts, and updates directly from us,” he alerted clients to pay extra attention to possible scams:

“Remember, Binance will never add you to groups or ask for your account details via messages.”