Binance, one of the largest cryptocurrency exchanges in the world, continued to make progress in the market despite falling victim to a security breach a few days ago. Changpeng Zhao, the co-founder and CEO of Binance, revealed that the exchange’s order volumes were much higher than the volume during Bitcoin’s peak at the end of 2017 and beginning of 2018.
With all the positive news surrounding the platform, the exchange unveiled a new interface, with margin trading being the highlight. The exchange announced on Twitter,
— Binance (@binance) May 24, 2019
To this, ICO Drops stated on Twitter,
.@binance has showed an updated exchange interface and margin trading interface.
— ICO Drops (@ICODrops) May 24, 2019
Rumors of Binance providing margin trading service had been circulating in the space months prior to any official confirmation. Earlier this month, a Redditor, Lifofifo pointed out that the exchange platform had enabled margin trading flag on its API for top cryptocurrencies.
Post this, CZ confirmed that the exchange would be rolling out margin trading service and that they were working on a marketing system that would be launched “very very soon”. Based on a previous report, the exchange would roll out this service for Bitcoin, Binance Coin, Ethereum, Tron, and XRP, paired with Bitcoin and Tether.
Margin Trading enables users to trade cryptocurrency with borrowed money/ leverage. The notice on Binance’s interface stated,
“Margin trading confers a higher profit potential than traditional trading,