Flamin' Hot: Binance Just Burned $24 Million Worth of BNB Coins
Binance Just Unveiled Its New Margin Trading Service
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This week, Binance 2.0 arrived.
As part of that arrival, a new Margin Trading service was unfurled alongside the platform’s main exchange service. Both of these services have been underpinned by a new advanced trading engine that has been designed for “better order matching and press indexes for margin level calculations to enable lower liquidations,” the company said in a July 11th press release.
As Binance chief operating officier and co-founder Changpeng Zhao explained on the news:
“This is another step in providing an inclusive cryptocurrency trading platform catering to the needs of both advanced institutional traders and retail traders under the same roof. We are providing a new tool in the financial services and cryptocurrency markets to help amplify trading results of successful trades.”
With the new margin trading service activated, Binance users who have verified their identities will now be able to put up cryptocurrency collateral in a special wallet in order to make leveraged trades on the platform.
Binance: the One-Stop Crypto Shop
As part of the exchange’s bid to maintain its preeminent status in the cryptoeconomy, Binance announced earlier this month that it was also preparing to launch a cryptocurrency futures service, with futures being a mainstream financial instrument used to speculate on the prices of assets.
Confirming the imminent status of a new futures interface, CEO Zhao confirmed at the Asia Blockchain Summit in Taiwan that cryptocurrency futures were all but ready to be greenlighted for Binance.com:
“Binance will be launching a futures platform very soon. I don’t have the exact date yet. The simulation test version will be live in a few weeks.”
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