Leading cryptocurrency exchange Binance‘s margin trading arm, Binance Margin, announced the addition of Alpine F1 Team Fan Token (ALPINE), FC Barcelona Fan Token (BAR), Manchester City Fan Token (CITY), and Paris Saint-Germain Fan Token (PSG) as new borrowable assets. Binance Margin also opened trading for 5 new trading pairs for 5 altcoins in both cross and isolated margin.
Nine Trading Pairs Added to Binance Margin for Altcoins
Binance Margin announced the addition of ALPINE, BAR, CITY, and PSG as new borrowable assets for isolated margin. While these 4 altcoins were added as new borrowable assets on Binance Margin, new trading pairs were also added to both cross and isolated margin.
New cross margin pairs added to Binance Margin include PROS/USDT, WIN/USDT, while the new trading pairs for isolated margin are ALPINE/USDT, BAR/USDT, CITY/USDT, ORDI/FDUSD, PSG/USDT, SUI/BTC, and XAI/FDUSD.
What is Binance Margin?
Binance Margin is a service offered by the world’s largest cryptocurrency exchange Binance, providing investors with the opportunity to engage in leveraged margin trading. Through the Binance Margin platform, users can open positions larger than their own capital, potentially increasing their profits, but this also comes with high risk.
The main features of Binance Margin are:
- Leveraged Trading: Binance Margin allows traders to amplify their positions using leverage. Users can increase their open positions by using a certain level of leverage.
- Various Cryptocurrencies: Binance Margin offers the opportunity to trade on margin across a variety of cryptocurrencies. You can trade on margin with Bitcoin, Ethereum, and many other popular cryptocurrencies.
- Margin Levels and Margin Calls: Traders must maintain a certain margin level to sustain their open positions. If the margin level falls, a margin call can be triggered, and the trader may need to add additional collateral or close the position.
- Margin Interest: The margin used during leveraged trading carries an interest cost. Binance may charge traders a certain interest rate for this service.
- Profit from Closed Positions: Traders can potentially earn profits upon closing their positions. However, losses can also escalate quickly in leveraged trading.
