Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Crypto Exchanges => Topic started by: cheekwit on May 29, 2019, 04:00:01 PM
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Last week a Binance official confirmed that a margin trading module will indeed “soon” be coming to Binance.
This public statement was made only after the information was leaked accidentally in a Twitter post by the company demonstrating a completely different feature, although the “margin” tab in the staff member’s exclusive account was visible.
So, exactly how much leverage will Binance be offering? - That detail is yet to be announced.
It will be interesting to see if the crypto trading giant takes on the two current margin trading leaders, both offering the industry’s highest leverage of up to 100x, Bitmex & PrimeXBT. Or, if it will follow in the footsteps of Kraken, Bitfinex, and KuCoin with a modest max leverage of just 5x.
The main takeaway from Binance’s move into the margin trading arena is that today’s traders are obviously looking to utilize more profitable strategies. Evidently, as both PrimeXBT and Bitmex are reaching new highs in trading volume and new user numbers in recent weeks.
Seeing the huge potential with what seems to be the beginnings of the next big bull run, it appears that Binance wants a piece of the ever-increasing margin trading capital.