Binance 2.0 Launches Margin Trading Platform to Give Crypto Traders Higher Profit Potential
- Binance will now be offering a platform that combines margin trading with their exchange.
- Investors will not have to convert fees for transfers between the primary Binance Wallet and the new Margin Wallet.
The cryptocurrency trading atmosphere has changed a lot in the last few years, but the only way to continue this progress is to make changes. Binance has been a big part of the evolving crypto atmosphere, which will now include a Margin Trading platform. Binance announced this platform via press release on July 11th.
According to the press release, the efforts from Binance are meant to help move the whole cryptocurrency industry forward, while promoting the “freedom of money.” This new platform is fairly similar to the trading features that traditional markets already have.
Changpeng Zhao said, in the press release,
“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.”
Traditional trading does not quite offer the impressive profit potential that margin trading provides in leveraged positions. However, margin trading comes with a much greater risk, considering the crypto market’s general volatility. Both long and short positions can be opened with margin trading.
Ultimately, Binance is aiming to continue bringing awareness to mainstream consumers about the potential for trading and profits on margin accounts. Hopefully, with this kind of attention, investors can receive more profits, reduce their investment risks, and create more diverse portfolios.
The co-founder of Binance, Yi He, chimed in as well, stating,
“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.”
The new platform is built upon an optimized interface, making it possible to access the Margin Trading platform and the exchange easily, providing faster response and a familiar atmosphere for transactions. With this new 2.0 platform, investors can also take advantage of the advanced trading engine, which provides the user with more efficient order matching and price indexes. The platform also lets users transfer funds quickly between the Margin Wallet and the Binance Wallet, sans fees.
To view more information about how margin trading is done on the Binance platform, visit http://www.binance.vision/tutorials/binance-margin-trading-guide.