Cobinhood, a cryptocurrency exchange platform, announced on Thursday that it has launched Margin Trading on its platform. Starting Friday, users of the exchange now have access to Margin Trading, Short Selling, and Margin Funding.
According to the statement, Margin Trading on the exchange gives traders access to three times more leverage than previously available for the following crypto pairs: BTC/USDT, ETH/USDT, ETH/BTC, and COB/ETH.
Short Selling is also now available for the same cryptocurrency pairs, allowing traders to have access to potentially higher returns and again have access to three times more leverage.
For cryptocurrencies COB, BTC, ETH, and USDT, users have access to Margin Funding. This means margin traders are provided with cryptocurrency funds in exchange for interests earned on funding amounts provisioned.
Viberate Teams Up with Blockparty to Deliver World’s First Live Event NFTGo to article >>
Commenting on the announcement, Wei-Ning Huang, Co-founder and CTO of Cobinhood said: “we are excited to officially roll out our Margin Trading feature, as we continue to improve and expand the COBINHOOD platform.”
“Unlike other cryptocurrency exchanges, at COBINHOOD we are constantly innovating our features and services to support traders. We look forward to improving the COBINHOOD platform and offering innovative features that will keep the industry moving forward as it grows.”
To assist traders with the new functions available from today, the company reminds that it has tutorials designed to educate users to increase their skills and knowledge of cryptocurrency and blockchain technology.
Cobinhood Launches Dexon
Cobinhood was launched in 2017 and claims to be the world’s first fee-free and high-frequency cryptocurrency trading platform. Earlier this year, Cobinhood, announced the launch of a decentralized platform called Dexon. The project is backed by top-tier venture capital firms including San Francisco-headquartered IDG Capital, a firm which manages $20 billion worth of assets.
At the time of the announcement, the firm claimed Dexon to be the fastest blockchain available in the market. It is optimistic that advantages like infinite scalability and low latency will make it ideal for the banking industry and other real-world requirements.