After several weeks of build-up, the Binance’s Margin Trading service is now up and running.
News of the Margin Trading service first came to light several months ago. But now, the option has finally materialised in full form and beckons a whole new era for the exchange platform with it now offering leveraged trading to users on the platform.
CZ Zhao, CEO of Binance, has called the update to the service, “another step in providing an inclusive cryptocurrency trading platform catering.” Before explaining, “We are providing a new tool in the financial services and cryptocurrency markets to help amplify trading results of successful trades.”
Binance has expressed that those who opt for Binance Margin Trading will be offered a wide range of cryptocurrencies to pick collaterals from and BNB will be available to make payments on the transaction fees. As well as this, the new margin trading platform will allow users to move funds from their existing margin wallet to their Binance wallet for no extra cost.
To accommodate the new Binance Margin Trading platform, the existing exchange platform has been upgraded with a newly optimized interface. This will allow users to access both the exchange platform and the margin on one display.
According to the blog that announced the release of the new offering, the new updates include “advanced trading engine for better order matching and press indexes for margin level calculations to enable lower liquidations”.
Yi He, co-founder of Binance. “With margin trading being one of the most requested services from our community, this is a testament to the large market demand from retail and institutional traders alike and its promising possibilities in the future.”
Margin trading provides the user with the option to benefit from high-profits by leveraging their digital assets and borrow collateral funds from a third-party, in this case, Binance. This can result in larger payouts for the investor. However, it is more susceptible to market fluctuation and as a result, larger risk is involved. As such, it should be used with caution.
Binance will join a line of crypto exchange platforms that have ventured into margin trading of late, including CoinEX. With this in mind, it is worth learning more about the concept. If you are interested, then check out our Margin Trading guide which can help you get off the right start with this format of trading.
With the launch of Binance Margin trading, the next thing to expect from the company will be the Binance crypto futures trading, which a Binance representative would follow shortly after. When this is going to happen is unclear. However, as usual, there should be plenty more to come from the firm before long.
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