Margin trading service will be launched on Binance crypto exchange after the company accidentally leaked images on twitter saying that the service is under development. Let’s read more about this in the altcoin news below.
The crypto exchange giant confirmed that they will be launching a margin trading service after they posted screenshots of the platform in dark and light modes asking users which one they prefer. The screenshots on Twitter had a dedicated tab named ‘’Margin’’ with a message saying that the new service carries a ‘’higher potential profit’’ but also much bigger risks. This new service is referred to using borrowed funds from one broker or an exchange to trade an asset.
As mentioned in some of the best cryptocurrency news sites, Binance reportedly has already launched the service in beta mode on Friday among ‘’selected users.’’ One representative from the company also confirmed to a TechCrunch news source that the margin trading service will be available on Binance.com ‘’soon.’’
Other cryptocurrency exchanges such as Coinbase, OKCoin, Huobi, and Kraken already offer margin trading services. The margin is one of the latest services to be developed by Binance and currently it is the second largest cryptocurrency exchange by volume according to the data gathered on CoinMarketCap in the recent months.
The exchange has been continuously adding new features and services as a part of the expansion plan. Most recently, Binance launched a decentralized exchange named Binance DX and even set up a fiat-to-crypto exchange in Singapore. The company revealed a new platform in Australia that allows crypto users to buy bitcoin with cash from agents.
Binance has also been complaint with the regulatory conditions on the market. It even collaborated with multiple analytics and security startups including Elliptic, IdentityMind and Chainalysis. Also, the company seems to be untouched by the loss of more than $40 million in bitcoin after it was hit with a hack attack. The customers were not impacted due to the ‘’Secure Asset Fund for Users’’ according to binance. Following the security breach, the exchange made multiple security upgrades and resumed to provide services in a just couple of days.
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“Participants reflected on the legitimate use of blockchain technologies, including the use of cryptocurrencies for trading and investment activities, payment method and as a store of value.”As noted in the coming altcoin news, blockchain technology spiked the interest in business leaders and governments around the world. There will be a part of every business in the future consisted of blockchain since already some major companies such as Amazon, Google and Microsoft are all into the technology.
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“We should challenge ourselves with a resolution to make new foundations, moving beyond the scope of protecting our past achievements,” Lee noted, confirming the news that Samsung taps blockchain.As we reported last month in our altcoin news section, the budget smartphones by Samsung will start to include cryptocurrency and blockchain features. Meanwhile, crypto and blockchain functionalities have already been confirmed for the Samsung S10 phone and will be included in other Galaxy smartphone models, too. At the end of April, one anonymous source also claimed that Samsung could eventually develop its own public-private blockchain which will be completed with its own token. This confirms the craze for blockchain technology and innovation that is currently spreading among Asian conglomerates.
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