The world’s largest cryptocurrency exchange will allow users to use 3x leverage on BTC transactions. Binance, which is the world’s largest cryptocurrency exchange in terms of trading volume, has just officially launched a margin trading platform. After strong demand from merchants, the Binance 2.0 platform will allow users to benefit from their exchanges on six digital assets.
Margin trading is offered in pairs, including bitcoin, ethereum, Ripple, Binance coin, Tron and tether initially, but can be funded with all coins taken in charge on Binance. The trading margin fee is 0.02% on all crypto except BNB, which invites at 0.01% only.
Margin Trading on Binance The new margin functionality allows Binance users to amplify their transactions by borrowing funds. For example, if you trade $ 1,000 with 2x leverage, you are trading with $ 2,000. While this allows you to leverage your gains, the risk is higher as the decline is also magnified. This move extends Binance’s dominance in the cryptocurrency exchange, placing it as a competitor on platforms like BitMEX which offers 100x leverage on Bitcoin derivatives.
In a blog post, Binance CEO Changpeng Zhao said it was another step in providing an inclusive cryptocurrency trading platform that meets the needs of advanced institutional traders and under traders. the same roof. We are now providing a new tool in financial services and the cryptocurrency markets to help boost the trading results of successful transactions.
Binance 2.0 margin trading will now be integrated into a new Binance 2.0 platform. The platform is a major upgrade of the existing system, with an optimized interface and an advanced trading engine for better order matching. Binance 2.0 will initially support margin trading on 9 asset pairs, which will allow users to pledge collateral with Bitcoin (BTC), Binance Coin (BNB), Ethereum (ETH), XRP, Tether (USDT) and Tron (TRX). Margin costs can be paid in BNB.
Users will also have access to a new “margin portfolio” with easy transfers from Binance’s main portfolio.
