Non-US Traders Can Start Margin Trading with Bitcoin Offspring BCH and BSV On Poloniex Right Now
Poloniex has started to offer a new service now. The trading platform will now let its users start margin trading with Bitcoin Cash (BCHABC) and Bitcoin SV (BCHSV).
However, this will only be available for non-U. S. residents, since the service is not compliant with the local law. Traders who want to trade using leverage will have leverage of 2.5 times with these two assets.
The new announcement follows the recent addition of Ethereum Classic (ETC), another hard forked token. ETC was also made available this week. Now, the customers of the company can start margin trading with the following assets, besides the ones that were announced this week: XRP, ETH, XMR, STR, FCT, LTC, BTS, DOGE, DASH, MAID, and CLAM.
All assets are paired against Bitcoin (BTC) on the exchange. In order to start trading, you need an account and to make sure that you have read how margin trading works first, which you can read here: https://poloniex.freshdesk.com/support/home.
As it is usual for the company, tokens which are enabled for margin trading are also offered for lending (so they can be used in margin trading). This means that users who hold these tokens will have the opportunity to get some interest rates by lending them.
Poloniex has also affirmed that it will list even more tokens for margin trading and, as far we are seeing, they are doing it pretty fast.
About Bitcoin Cash And Bitcoin SV
Bitcoin Cash was born from a Bitcoin hard fork which happened in 2017. The original network did not want to upgrade the block sizes, so BCH was born. It is faster than the original Bitcoin, but it is not so valuable. At the time, the asset is priced in $265 USD, while BTC is around over $5,000 USD.
Bitcoin SV was a hard fork from Bitcoin Cash that happened on last November. It is worth $71 USD and it was created after a group decided to increase the block sizes even more.