Will Binance introduce margin trading in the coming weeks?
Binance CEO, Changpeng Zhao has refused to accept or deny suggestions that the exchange is set to introduce margin trading option soon.
The rumors first popped up on Reddit when a certain user noted that the exchange has made alterations to the original public Application Programming Interface (API) response contained in their official GitHub documentation.
The API now includes two variables that can either be marked “true” or “false”. Also, the newly added variables “isSpotTradingAllowed” and “isMarginTradingAllowed” returns a “true” and “false” response respectively.
In other words,
- The exchange will likely enable Spot Trading in the front end which allows instant settlement of trades and also
- Introduce Margin Trading (borrowing) from the exchange soon.
If that were to happen, then it will be in line with the Binance whitepaper which states that Spot Trading will launch of the exchange before Margin Trading.
In a reply about the leaked development on the world’s largest cryptocurrency exchange at the moment, CEO Changpeng Zhao tweeted a “not saying” smiley, perhaps showing the rumors may be true.
— CZ Binance (@cz_binance) March 21, 2019
Back to the present, there is no doubt that the introduction of margin trading on Binance will lure more crypto traders to the exchange among the other exciting features that have made it a standout trading platform in the industry.
Earlier this week, Coinfomania reported that Binance was among the crypto exchanges globally not reporting fake trading volumes. Also last month, Binance launched a trial version of their decentralized exchange.
Affiliate: Get a Ledger Nano X for $119 So That Hackers Won't Steal Your Crypto!