Crypto exchange Binance launches Platform 2.0 with margin trading
Thu, 11 Jul 2019, 10:13 am UTC
Cryptocurrency exchange Binance on Thursday announced the launch of its margin trading platform.
The company said that the launch is part of its efforts to push the crypto industry forward. Binance Margin Trading will provide users with potential amplified gains by allowing them to leverage their digital assets as collateral to borrow funds from the Binance exchange and create leveraged trading by a margin.
Commenting on the launch, CEO Changpeng Zhao said:
“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. We are providing a new tool in the financial services and cryptocurrency markets to help amplify trading results of successful trades.”
However, Binance cautioned that while margin trading can bring higher profits, it also comes at a greater risk stemming from the current volatility cryptocurrency market.
According to the official announcement, this Binance 2.0 platform is hosted under a “newly optimized interface” allowing seamless access to both its exchange platform and the Margin function within one user account and familiar interface. It also features an advanced trading engine for better order matching and press indexes for margin level calculations to enable lower liquidations.
Furthermore, Binance also announced “Margin Wallet” from which users can move funds to their primary Binance Wallet without any transaction fees.
In addition, the platform also offers users the option to choose collaterals from a diverse spread of cryptocurrencies, including Bitcoin (BTC), Ether (ETH), XRP, Binance Coin (BNB), Tron (TRX), and Tether (USDT), enabling them to pay for margin trading fees with Binance Coin (BNB).
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