Binance‘s margin trading arm, Binance Margin, has added Cream Finance (CREAM) and IRISnet (IRIS) as new borrowable assets for Cross and Isolated Margin. The cryptocurrency exchange also added dozens of new trading pairs to both Cross and Isolated Margin.
CREAM and IRIS Added to Binance Margin Alongside Dozens of New Trading Pairs
The major cryptocurrency exchange Binance’s margin trading arm, Binance Margin, announced the addition of CREAM and IRIS as new borrowable assets for Cross and Isolated Margin. The cryptocurrency exchange also added dozens of new trading pairs to Cross and Isolated Margin.
Accordingly, ARB/USDC, ATOM/FDUSD, BCH/FDUSD, CHZ/FDUSD, CREAM/USDT, DOT/USDC, DYDX/FDUSD, ETC/FDUSD, FIL/FDUSD, FTM/FDUSD, GALA/FDUSD, INJ/FDUSD, INJ/USDC, IRIS/USDT, LTC/FDUSD, OP/USDC, ORDI/USDC, TKO/USDT, and WRX/USDT trading pairs were listed as new trading pairs for Cross Margin.
The new trading pairs added to Isolated Margin include ARB/USDC, ATOM/FDUSD, CHZ/FDUSD, CREAM/USDT, DOT/USDC, GALA/FDUSD, INJ/USDC, IRIS/USDT, OP/USDC, and ORDI/USDC.
What is Binance Margin?
Binance Margin is a service provided by Binance that allows users to engage in leveraged trading. Leveraged trading is a financial tool that allows an investor to open positions larger than their own capital. With Binance Margin, users can take larger positions using their existing assets, which can increase potential profits but also potential losses.
The use of leverage in Binance Margin refers to the amount users can borrow to finance the positions they open. For example, with 5x leverage, a position of $5,000 can be opened with $1,000 of assets, but this also increases potential profit and loss by five times.
While leveraged trading can offer high returns, it also carries high risk. Therefore, before using Binance Margin or similar leveraged trading platforms, it is necessary to have a good understanding of the market, risk management, and experience. Leveraged trading can increase potential profits as well as potential losses.
