The flagship product will enable customers to make advanced purchases of cryptocurrency in markets with lower volatility.
There will be several possible scenarios for placing orders, all of which are supposed to work in the user’s favor.
In a press release shared with CryptoPotato, Binance, the company behind one of the largest blockchain ecosystems and exchanges, announced the launch of Discount Buy today.
This is a new product from Binance’s Earn portfolio, enabling patrons to lock in future cryptocurrency purchases at pre-defined prices below the current market rate, or earn a fixed Annual Percentage Rate (APR) if the purchase does not execute.
Discount Buy offers a flexible way to accumulate assets like Bitcoin, Ethereum, BNB, or Solana in low-volatility markets, eliminating the need to monitor prices or time your orders.
Discount Buy is well-suited for users who anticipate limited price fluctuations and want to accumulate crypto at a discount without needing to time the market or monitor prices closely, said Jeff Li, VP of Product at Binance.
It offers flexibility across investment scenarios, giving users more choices and opportunities in how they want to participate in the crypto market.
Clients can subscribe to the feature by using stablecoins (like USDC or USDT) and selecting a fixed-term product with preset conditions.
The stated conditions include the Target Buy Price (the price at which you want to buy crypto), a Knockout Price (a price ceiling that determines reward eligibility), a fixed APR, and a Settlement Date.
The Settlement Price is defined as the average market price over a 30-minute window on the Settlement Date (07:3008:00 UTC), and is used to determine which outcome applies. The result depends on how the market price compares to these levels:
There are no trading fees for purchases, and the currently supported currencies are BTC, ETH, BNB, and SOL. Once the subscription has been set, the Purchase Price, Knockout Price, duration, and APR are fixed and cannot be modified.