Binance has confirmed it will be launching a margin trading service, after the cryptocurrency exchange accidentally tweeted images suggesting the service was in development.
First noticed by Twitter users earlier on Friday, Binance screenshots of its platform in dark and light modes, asking users which one they preferred.
The screenshots contained a dedicated tab titled “Margin,” with a message saying that margin trading carries a “higher potential profit,” but also “greater risks.” Margin trading refers to using borrowed funds from a broker or exchange to trade an asset.
Image via Binance (highlight by CoinDesk)
TechCrunch Friday that Binance seems to have already launched the service in beta among “selected users.” A Binance representative also confirmed to the news source that margin trading will be available on Binance.com “soon.”
Other cryptocurrency exchanges, including , , , and already offer margin trading services.
The margin offering comes as the latest service to be developed by Binance, currently the world’s cryptocurrency exchange by adjusted volume on data site CoinMarketCap, in recent months.
The exchange has been adding new features and services as part of its plans for expansion. It most recently launched a decentralized exchange called , set up a fiat-to-crypto exchange in and unveiled a new platform in that allows users to buy bitcoin with cash from newsagents.
Binance has also been ramping up its regulatory compliance efforts, having collaborated with several security and analytics startups including , and .
Further, the firm seems to have shrugged off the loss over in bitcoin through a hack earlier this month. Thanks to its “Secure Asset Fund for Users,” customers have not been impacted by the breach, according to Binance.
Following the hack, the exchange made a number of security upgrades and full services a week later.
image via Shutterstock
Published at Fri, 24 May 2019 13:00:23 +0000
