Binance is adding Litecoin, Ethereum Classic and USD Coin to its margin trading platform. The exchange announced the new additions on Wednesday, noting it will also be adding BTC/USDC, LTC/USDT, LTC/BTC, ETC/USDT and ETC/BTC margin pairs.
Binance initially launched its margin trading platform in July, which allows users to essentially borrow funds from the company, exposing traders to potentially large gains as well as massive losses.
According to the exchange,
“Margin trading is the latest development in Binance’s effort to push the industry forward and toward the freedom of money, expanding its trading offerings.
Margin trading allows traders to borrow funds to increase leverage, providing higher profit potential than traditional trading.
However, this also comes with a greater risk, given the current volatility of the cryptocurrency market.”
“As the first-of-its-kind big data platform in the industry, this new feature exclusively allows OKEx users to access the real-time data of OKEx’s futures and perpetual swap markets of 9 mainstream tokens including BTC, LTC, ETH, ETC, XRP, EOS, BCH, BSV and TRX.
With 6 indicators to help OKEx customers get a grasp of market trends, including long/short positions ratio, basis, open interest and trading volume, buy/sell taker volume, Top Trader Sentiment Index, and top trader average margin used.”
And Circle’s crypto exchange Poloniex has just launched a long list of new margin trading pairs.
Ethereum, XRP, Bitcoin Cash, Bitcoin SV and Monero are now paired with Tether (USDT). In addition, Ethereum, XRP and Stellar are paired with USD Coin (USDC).
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— Poloniex Exchange (@Poloniex) August 7, 2019