Binance has just launched the Spot Pre-Market service. Unlike many other crypto exchanges, Binance offers a Pre-Market feature with “real tokens” rather than derivatives.
Binance has introduced a Spot Pre-Market trading service, allowing users the opportunity to hold and trade new digital assets early before the respective tokens are officially listed on the spot market.
The Pre-Market service from Binance is a combination of Binance Spot and Binance Launchpool, enabling users to receive tokens from new projects by staking BNB and other tokens.
Only selected Launchpool tokens can participate in Pre-Market trading. Currently, the Launchpool tokens held by users will remain until they are officially listed on Binance. With Binance Pre-Market, users can trade these tokens immediately, but some features such as withdrawals, transfers, and deposits will be limited until the tokens are officially listed.
Binance will announce when a Launchpool project is available for Pre-Market trading, along with the start date. Users can continue to register for Launchpool as usual. When Pre-Market trading begins, all Binance users can trade tokens labeled “pre-market.” The Pre-Market phase will end at least 4 hours before the official spot trading begins, with a separate announcement regarding the listing.
Note that the Binance Spot Pre-Market service is not available in certain regions, including the United States, Canada, Dubai, Japan, the Netherlands, Russia, and Spain.
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Pre-Market is not an unfamiliar feature for veteran investors in the cryptocurrency market. With this feature, users will have the opportunity to access new tokens earlier, effectively explore prices, and expand liquidity before the cryptocurrency officially lists.
While other crypto exchanges also offer Pre-Market features, they often involve trading in the form of derivative products. Binance can be said to be the first exchange to provide Spot trading services based on real tokens for users in the Pre-Market phase.
Exchanges like Bybit and BingX also offer Spot Pre-Market trading services, but they utilize an OTC model where buyers and sellers freely set prices according to their desired levels, rather than using real tokens like Binance. Bybit’s website states: “Both buyers and sellers must collateralize their assets on the platform to ensure timely payment. The collateral will be returned after successful and timely payment. All transactions are calculated in USDT,” indicating that assets are held while awaiting token transfer.
Meanwhile, Coinbase’s “Pre-Launch Market” service relates to trading perpetual futures contracts for tokens that have not yet launched. Coinbase’s announcement states, “when the underlying token is listed on the relevant spot exchanges, these contracts will automatically convert into standard perpetual futures contracts.
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