Binance API Shows the Exchange Wants to Integrate Bitcoin Margin Trading Pairs to Rival BitMEX
According to a recent post released by a programmer on Reddit, one of the most popular cryptocurrency exchanges, Binance, could soon be releasing margin trading on its platform.
The Redditor enriquejr99, who claims to be the programmer, said that the official Binance public rest API documentation has margin trading disabled. This means that the exchange is considering the implementation of margin trading features.
Binance Could Implement Margin Trading
When Binance was launched back in 2017, the intention was to create a platform that would offer users different features that other exchanges did not offer under the same platform.
During the last almost two years, the exchange has provided users with a wide range of features and possibilities. However, the white paper released by the exchange promised users that they were going to have margin trading enabled in the future.
About it, Binance did not talk about it and did not provide information regarding this feature, even when they’ve informed that they planned to release it. Even when they did not announce that they were testing this possible feature, the Redditor confirmed that the exchange was “silently” testing the implementation of margin trading.
A few days ago, Binance has performed a network upgrade. Binance could have added support for margin trading on its platform during that time. However, the functionality is not available for users.
The exchange has 482 different trading pairs and it could give users access to margin with a lot of different trading pairs in the market. Nonetheless, it might be possible to see this implementation only among the most popular digital assets such as Bitcoin (BTC), Ethereum (ETH) or Litecoin (LTC).
Changpeng Zhao, the CEO of Binance, has also commented on the matter. On Twitter, he said that they are testing their API framework as part of their system upgrades, but there are no dates for releasing the new implementation. Changpeng Zhao has also mentioned that they do not make jokes and when they talk about this implementation they were serious.
There are other firms such as Bitfinex, OKEx and BitMex that have profited from high volume markets, and due to the fact that trading volumes are down, Binance could have better results in the near future.
At the time of writing, Binance handled more than $758 million in trading volume in the last 24 hours.
We future proof our API framework as part of our system upgrades. No dates. https://t.co/8PxaeT98vH
— CZ Binance (@cz_binance) March 20, 2019