In a recent development, Binance has increased its margin trading leverage to 5x and has also enabled an adjustment function on its web interface. Users will now have the option to select any leverage between 3x and 5x for margin trading.
5x Leverage Margin Trading
Per a recent tweet by Binance platform’s official twitter handle, traders will now have the option to select any leverage between 3x and 5x for margin trading.
As reported by Coingape, Binance added BNB/ETH margin trading on the 7th of November. The pair is the latest to join the exchange’s ever-growing margin trading platform launched in July this year. Also, on Oct. 31 the exchange announced the addition of QTUM margin trading, allowing users to leverage up to 125X and also borrow the asset.
Also, today, Binance announced that it will open trading for a MCO/USDT trading pair at 2019/11/19 10:00 AM (UTC). Few days back, Binance added margin trading for IOTA with the pairs IOTA/BTC and IOTA/USDT.
Binance Enables Ruble Deposits With Advcash
In the starting of November, Binance partnered with Advcash to offer deposits and withdrawals of Ruble (RUB) via the Advcash service.The service will further allow users to buy and sell crypto with RUB directly on Binance’s buy/Sell crypto page with a one-click buy/sell service. Also, there will be no transfer fees when depositing RUB using Advcash Wallet.
Rising Institutional Interest in Bitcoin
Changpeng “CZ” Zhao, the CEO of Binance in an interview with Bloomberg said that institutional interest in Bitcoin (BTC) and other digital assets is on the rise.
“We’re definitely seeing a lot of institutional interest picking up. I think the regulatory uncertainty is still affecting some countries, but there’s definitely a race towards [crypto] adoption now. Binance is working with a number of governments. We signed a memorandum of understanding (MoU) with the government of Ukraine, [which involves] advising them on [developing] regulatory frameworks.”
What will be Binance’s next developmental initiative? Let us know, what you think in the comments below!
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Coming from a physics background the unpredictability and intrigue of the cryptoverse attracted me to take a dive in this field. I am all eyes and ears for the latest trends in blockchain and crypto sphere. Whenever I am not writing or researching, I love to read sci-fi novels, play basketball and watch action movies. I strongly believe that blockchain and cryptocurrency will bring lasting transformations in people’s lives in the years to come. You can reach out to me at supriya [at] coingape.com.