Analyzing Whether Binance 2.0 and Margin Trading are Really Designed for the Common Investor
- Binance’s ‘Margin Trading’ portal is still only accessible to those users who have received an ‘official invite’ from the firm.
- The feature is not available in its entirety for people living in countries like the USA, Crimea, S.Korea etc.
According to a tweet released by Binance CEO Changpeng Zhao (better known as CZ) yesterday, the crypto exchange’s upgraded interface (UI) — Binance V 2.0 — is now available for everyone to use.
— CZ Binance (@cz_binance) June 26, 2019
As a result of the above stated upgrade, the premier trading platform will now enable the margin trading (MT) feature — which, up until now, had been limited to a chosen few customers — for everyone.
With that being said, it should be pointed out that there is still a catch to all of this. For starters, the MT feature is still not available to Binance users living in a number of countries such as the United States, Iran, Canada, Japan, South Korea, etc.
Lastly, CZ posted another tweet recently in which he pointed out that Binance had implemented an additional “key improvement” to its existing framework, as a result of which certain performance based issues (related to lagging, slow load times) had now been addressed. On the subject, Zhao was quoted as saying:
“One of the key improvements in this upgrade that not easily visible is performance. During peak times, if you experience lag or other performance issues, be sure to try out 2.0. We will soon decommission the “1.0” version due to legacy performance bottlenecks.”
Despite the aforementioned announcements, it appears as though the ‘margin trading’ feature is still not available to a majority of the firm’s customers.
As per the official Binance website, margin trading is still only available for those users who have been provided with an “official invite”. A number of Binance users have brought this issue to light but CZ is yet to provide a definitive answer in regards to the matter.