Binance to Launch Margin Trading "Soon"
- The exchange 'accidentally' revealed the news in a Twitter post early on Friday morning
Binance has confirmed that it plans to launch margin trading for its clients in the near future.
The world's second largest cryptocurrency exchange appears to have revealed the news by accident.
Just after midnight on Friday morning, the exchange operator posted screenshots of a 'light mode' and 'dark mode' on its Twitter page, asking its followers to say which they preferred.
Viewers of the two images quickly realized, however, that the two screenshots - which were of the main page on the exchange's Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term - also showed a margin trading mode.
As you can see from the image below, along with the exchange tab, there is another page available that is titled "margin." In fact, the tab is so obviously displayed that one does have to wonder whether or not Binance put it in the image deliberately.
[embed]https://twitter.com/binance/status/1131820773356650496[/embed]
The page states that, even though it can lead to larger profits, margin trading is much riskier than buying Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term without leverage.
Keeping up with the exchanges
Binance's decision to launch margin trading was likely driven by a need to keep up with its competition.
Several other major cryptocurrency exchanges, including Coinbase, Kraken, and OKCoin, have already launched leveraged trading services.
Speaking to TechCrunch, a Binance spokesperson confirmed that the new service would be launched "soon," adding that it is already in use amongst a select group of traders.
Like most cryptocurrency exchanges, Binance's operations are quite opaque.
Thus, it's difficult to say who margin traders would be trading with. In January of this year, the cryptocurrency exchange did launch a dealing desk, but that was aimed at institutions or traders with a large amount of cryptocurrency.
Binance has confirmed that it plans to launch margin trading for its clients in the near future.
The world's second largest cryptocurrency exchange appears to have revealed the news by accident.
Just after midnight on Friday morning, the exchange operator posted screenshots of a 'light mode' and 'dark mode' on its Twitter page, asking its followers to say which they preferred.
Viewers of the two images quickly realized, however, that the two screenshots - which were of the main page on the exchange's Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term - also showed a margin trading mode.
As you can see from the image below, along with the exchange tab, there is another page available that is titled "margin." In fact, the tab is so obviously displayed that one does have to wonder whether or not Binance put it in the image deliberately.
[embed]https://twitter.com/binance/status/1131820773356650496[/embed]
The page states that, even though it can lead to larger profits, margin trading is much riskier than buying Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term without leverage.
Keeping up with the exchanges
Binance's decision to launch margin trading was likely driven by a need to keep up with its competition.
Several other major cryptocurrency exchanges, including Coinbase, Kraken, and OKCoin, have already launched leveraged trading services.
Speaking to TechCrunch, a Binance spokesperson confirmed that the new service would be launched "soon," adding that it is already in use amongst a select group of traders.
Like most cryptocurrency exchanges, Binance's operations are quite opaque.
Thus, it's difficult to say who margin traders would be trading with. In January of this year, the cryptocurrency exchange did launch a dealing desk, but that was aimed at institutions or traders with a large amount of cryptocurrency.