Binance Launched Margin Trading For Everyone
Largest Cryptocurrency exchange Binance officially launched the margin trading on its exchange platform for every KYC verified user reported on 11 July 2019.
Margin trading allowed users to open long and short positions where long refers to buying contracts of a coin and short is selling of contracts of a coin.
Read – What is Bitcoin Margin Trading? How to Start Margin Trading?
“This is another step in providing an inclusive cryptocurrency trading platform catering to the needs of both advanced institutional traders and retail traders under the same roof,”
CEO of Binance, CZ (Changpeng Zhao)
In margin or leverage trading users can trade with more amounts than they already have using more leverage but it also increase the risk of losing as well as increase rate of profit also.
“Though the current cryptocurrency market and legacy platforms for margin trading poses greater risks and benefits at the same time, we are confident that its development coupled with more knowledge on proper risk management will help realize greater benefits in the long run,”
co-founder of Binance, Yi He
The company also launched Binance 2.0 platform that has an improved trading engine providing better order matching and press indexes for margin level calculations to enable lower liquidations, and it also makes easy for its users to move their funds simply from the Margin Wallet to their primary Binance Wallet without paying any transaction fees.
Users are allowed to pay margin trading fees in their Binance Coin (BNB) and Binance Margin also provides the option to select collaterals from a diverse spread of cryptocurrencies.
Currently, only five cryptocurrencies pairs (BTC, ETH, BNB, USDT, TRX, XRP) allowed for margin trading but Binance promised to add more cryptocurrencies later.
See Full details – https://beta.binance.com/en/margin-fee
Recently, Binance appointed Former head of Liquidity at Ripple as the lead of the team for the upcoming U.S crypto exchange,
Last week, Binance has announced that the first major network upgrade for Binance Chain named “Galileo” is ready to roll out.
