Binance Leverage

1 Answer(s)

    Binance recently introduced a new function for users to amplify their funds by borrowing funds (leverage).

    This margin trading platform is available on Binance 2.0 platform and has enabled users to leverage their trades on six cryptocurrencies i.e Binance Coin (BNB), XRP, Bitcoin (BTC), Ethereum (ETH), Tron (TRX), and Tether (USDT). With leverage and assuming you trade $1000 with a leverage of $2x, you make a trade of $2000.

    What this means is that your gains are potentially twice what it would be without the leverage but it also means that your risk is higher as well as it is also amplified. This move is aimed at responding to users demand of margin trading and also to expand their dominance in the market, and counter competitions like BitMEX which offers Bitcoin leverage of 100x.

    Answered on August 5, 2019.
    Add Comment

    Your Answer

    By posting your answer, you agree to the privacy policy and terms of service.