Binance Margin Trading on the Cusp of Launch But Likely Restrictions to US and Other Countries
Binance, one of the largest cryptocurrency exchanges in the market, is going to be launching margin trading for users around the world. However, there are going to be jurisdictions in which the new feature will not be available, including the United States, Crimea, North Korea, Iran, Syria, and Cuba. This is according to the crypto redditor Lifofifo that provided information about the Exchange's intention to release margin trading.
Binance Will Block Margin Trading for US Traders
Margin trading on the Binance platform is one of the most awaited features of the exchange. This would allow users to take riskier positions while trading but also with higher profits as well.
As per the user, margin trading will not be available for users in Iran, North Korea, Syria, Cuba, Crimea, and the United States
About the risks involved in trading with margin trading, Binance explained:
“Please be mindful that margin trading is subject to high market risk. It is a sophisticated product and you are highly advised to invest cautiously. Binance will make best efforts to give you pleasant trading experience but will not be responsible for your investment losses.”
Changpeng Zhao, the CEO, and founder of the platform has recently confirmed that they will be launching a margin trading feature in the near future. Moreover, the exchange has also shared a new interface on its social media platform. Nonetheless, the official announcement by the platform has not yet been made. Apparently, there are going to be some trading pairs available for margin trading, including BTC/USDT, BNB/BTC, BNB/USDT, ETH/BTC, ETH/USDT, TRX/BTC, TRX/USDT, XRP/BTC, and XRP/USDT.
At the moment, Binance is the largest crypto exchange in terms of trading volume with over $2.1 billion traded in the last 24 hours, according to CoinMarketCap.