[ad_1]
A Reddit user may have found some margin trading features on the Binance API that might indicate that the stock market will soon allow margin trading on the platform.
Marge Trading on Binance
Binance, the world's largest transaction-based cryptocurrency exchange, may soon allow a margin on the platform. More than a month ago, a Redditor identified as being u / enriquejr99 discovered an anomaly in Binance 's API. It seemed that the text "isMarginTradingAllowed" was added secretly, but it was set to "false" for the 482 trading pairs. However, this same feature, "isMarginTradingAllowed", was set to "true" on May 2nd for nine pairs of trading.
Changpeng Zhao, founder and CEO of Binance, spoke about the position of Redditor published by tweeting outside, "the intelligence of the crowd is amazing."
The pairs that have been set to "true" are:
Binance has not officially confirmed that this would actually allow margin trading, but one could expect that it will happen soon.
In an interview with Luke Martin on February 13, Zhao said margin trading was an interesting feature for the stock market and was working on it, but it was not a priority.
Zhao said that at the moment, he was focusing mainly on the development of Binance's main and decentralized stock exchange, but that he was quite interested in working on the margin trading function because it is very profitable because the stock market can collect fees and interest on leverage.
In the feature deployment section of its white paper, Binance ensured that it would implement margin trading on the platform before publishing future options on its platform. Now that cash trading has been launched and is a great success for the company, loosening the margin trading option may be a matter of time.
Love what you see? Have more Binance News in your inbox …
Subscribe to CryptoSlate recap, our daily newsletter containing the best stories and badyzes.
Subscribe now
Filed under: Crypto Exchanges
Related News
Mentioned Coins
The companies mentioned
After starting currency trading in 2012, Ali came across Bitcoin's white paper and was so fascinated by the idea of a decentralized, borderless, censorship-proof currency that he started buying Bitcoin. In 2015, he began traveling to introduce Bitcoin.
View author's profile
Commitment to transparency: The author of this article is invested and / or has an interest in one or more of the badets discussed in this post. CryptoSlate does not endorse any project or badet that may be mentioned or badociated with this article. Please consider this when evaluating the content of this article.
Warning: The opinions of our writers are only theirs and do not reflect the opinion of CryptoSlate. None of the information you read about CryptoSlate should be considered as investment advice. CryptoSlate does not support any project that may be mentioned or badociated with this article. The purchase and trade of cryptocurrencies must be considered as a high-risk activity. Please do your own due diligence before taking any action related to the content of this article. Finally, CryptoSlate takes no responsibility if you lose money by exchanging cryptocurrencies.
[ad_2]
Source link
