Binance will soon introduce Margin trading function
Home News Binance will soon Margin trading function introduce
Marcel Knobloch –
During a recent Ask-me-Anything (AMA) answer Binance CEO, Changpeng “CZ” Zhao some questions from the Community. However, he confirmed that Binance will soon offer Margin trading, which is a major Update that require a lot of people for a long time.
In the last week had already spread numerous rumors about Binance, you may introduce a Margin trading function. The necessary Software Code, it was already found before the official announcement in the official Binance Rest-API-documentation. The “Finder” with the Pseudonym “enriquejr99” published Details of the discovery on Reddit. A further contribution of the “lifofifo”, noted that the API documentation was changed, followed, and showed that the Flag “isMarginTradingAllowed” was enabled for the 9 pairs, which are composed of different BTC-, BNB-, ETH-, USDT – and XRP combinations.
After the recent Binance Hack CZ did an AMA, where he confirmed that Margin Trading will come in the future to Binance:
I think most people have already seen that Margin trading has been added in our API […] that actually comes very soon on the market.
Binance confirmed the Same via a Tweet.
In addition, CZ added that Binance it is testing the feature with some big dealers to find the last error:
The Code is basically finished, we will test and fix, only a possible error.
The Margin trading has gained in the course of the last year in popularity, obviously, the biggest Leverage providers, BitMEX and PrimeXBT, which were able to increase their trading volume and the number of new users. It is assumed that Binance want to take advantage of this Trend. Regardless of the amount of leverage that can offer Binance or is not Binance be the first crypto-trading platform, the Margin-trading functions for its customers to introduce. Further exchanges have taken this step already, octopuses, among others, Bitfinex and OkEX.
BitMEX and Prime XBT stand out as the most popular Margin trading platforms is that they are in the first line, while the others mentioned are mainly exchanges, the some Margin trade possibilities, but with a significantly smaller Leverage (at most with a leverage up to 5x). BitMEX offers up to 100x Leverage (Long and Short positions) for BTC Trades, 50x for ETH, 33.3 x for LTC, and 20x for BCH, XRP, and ADA.
Prime XBT also provides an up to 100-fold leverage effect. This is for all the popular crypto-Assets, including BTC, ETH, LTC, EOS and XRP available.
Featured Image: Nadezda Murmakova | Shutterstock