Binance was speculated to launch its Margin trading services by users soon after which it affirmed the users’ belief during the ABA summit. On July 11, Binance officially launched its Margin Trading platform for the evolving cryptocurrency traders.
The CEO of Binance, Changpeng Zhao or popularly known as CZ in the crypto community 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.”
Even though this would provide the users with an opportunity to a higher profit potential than traditional trading for the leveraged position, the volatility in the market poses a greater risk. This could be beneficial but since the price of Bitcoin impacts most alts, the market could be of risk-takers.
The exchange added:
“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).”
This trading platform is hosted on Binance 2.0 platform, which also features an optimized interface in order to access the trading platform and exchange, at the same time.