Binance Exchange launched a margin trading platform for all users11.07.2019
The largest cryptocurrency exchange Binance announced the launch of the updated platform Binance 2.0, in which margin trading is available to all users.
Margin trading, which allows exchange account holders to use their balance sheets as collateral for opening both long and short positions in cryptoactive assets, can significantly increase the profit potential compared to regular trading. However, this possibility entails great risks, as co-founder Binance Ie (Yi He) emphasized:
“Although the current market for cryptocurrency and traditional platforms for margin trading present both great risks and benefits, we are confident that their development, combined with a lot of knowledge about proper risk management, will help to make a profit in the long run.
In her statement, Yue said that margin trading was “one of the most sought-after services on the part of our community.”
As for the interface and integration, support for margin trading is carried out along with support for the previous version of the Binance platform in the framework of the new Binance 2.0 platform. The statement said that Binance 2.0 has an “improved trading mechanism for better matching orders and indices for calculating margins to ensure a lower level of liquidation of positions.”
The exchange launched a special wallet Margin Wallet, from which you can transfer funds to Binance Wallet without commissions. Full details of cryptocurrency supported for margin trading were published, the list of which included BTC, ETH, XRP, BNB, TRX and USDT.
In May, Changpeng Zhao, CEO of the Exchange, pointed out that Binance will expand trading opportunities to meet all the needs of institutional and retail traders. In the same month, the exchange fell victim to a major hack, which caused losses in the amount of 7,000 BTC.
Currently Binance is untimely considered a global, international leader in cryptocurrency exchange technologies.