The worlds leading cryptocurrency exchange Binance has officially announced the launch of margin trading for binance users.
Basically, Margin trading is the latest update in Binance exchange in order to push the industry forward and toward the freedom of money, expanding its trading offerings.
Binance CEO Changpeng Zhao says :
“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 ”.
Margin trading enables traders to borrow funds to increase leverage, providing higher profit potential than traditional trading. However, this also comes with a greater risk, given the current volatility of the cryptocurrency market.
The service is being offered under the improvised version “Binance 2.0”. The platform claims to enable users to transfer their funds easily from the Margin Wallet to their primary Binance Wallet at zero transaction fees. Binance 2.0 is updated for accessing both the already-existing exchange and the new margin function under one user account, using a familiar interface.
The exchange claimed :
“Binance Margin provides the option to choose collaterals from a diverse spread of cryptocurrencies, also enabling users to pay for margin trading fees with Binance Coin (BNB)”.
As a result, Binance users can transfer their funds between their primary account and the new margin wallet without any transaction fees. However, margin trading will be available for BTC, ETH, XRP, BNB, TRX, and USDT at up to 3x leverage.