Binance, the popular cryptocurrency exchange company, today announced the launch of its margin trading platform. Binance Margin provides the option to choose collateral from a diverse range of cryptocurrencies, and enables users to pay for margin trading fees with Binance Coin (BNB).
Margin in cryptocurrency trading can be used to open both long and short positions, where a long position reflects an assumption that the price of the asset will go up, while a short position reflects the opposite.
Earlier this week, the company opened up a Singapore based exchange, with SGD to crypto transfer capabilities.
“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.”
– CEO of Binance, CZ (Changpeng Zhao)
Binance 2.0: One Platform, Two Functions
The Binance Margin Trading platform is hosted under a newly optimized interface for accessing both its exchange platform and the margin function to better serve cryptocurrency traders seamlessly within one user account and familiar interface.
The Binance 2.0 platform allows its users to move funds from the Margin Wallet to their primary Binance Wallet with ease. Further, the new platform features an advanced trading engine for better order matching and press indexes for margin level calculations to enable lower liquidations.
“Though the current cryptocurrency market and legacy platforms for margin trading poses greater risks and benefits at the same time, we are confident that its development coupled with more knowledge on proper risk management will help realize greater benefits in the long run. With margin trading being one of the most requested services from our community, this is a testament to the large market demand from retail and institutional traders alike and its promising possibilities in the future.”
– Yi He, co-founder of Binance