Latest news about Bitcoin and all cryptocurrencies. Your daily crypto news habit.
The cryptocurrency exchange Binance is the top one among crypto platforms. This is not just because it is the leader in terms of trading volume and number of participants. The platform is also chosen for the fact that it offers margin trading.
The exchange came into existence in 2017 and in the five years of existence, it has a native BNB token, and a BUSD stablecoin. Users can also take advantage of more than 370 different cryptocurrencies.
Many newcomers to the crypto industry begin their introduction to trading, investing and cryptocurrencies in general at Binance.
Founder Changpeng Zhao has become the world's first crypto-businessman to challenge world-renowned IT moguls including Mark Zuckerberg and Larry Page.
With RevenueBot's margin trading bot, you can not only make extra profits from trading, but also save time and open trades on multiple pairs simultaneously.
Margin trading on Binance
As mentioned earlier, Binance has implemented margin trading. What it is: a user, with borrowed funds from the platform, can trade a cryptocurrency, increasing the potential profit.
Borrowed funds are commonly referred to as leverage. Essentially, you are leveraging your deposit to open a trade at a higher price. However, it is worth remembering that with leverage, not only does the potential profit increase, but also the potential loss.
This is why many beginners are not advised to start trading on margin. The best thing to do is to trade on a spot.
One division of the Binance cryptocurrency exchange is Binance Spot. It allows traders to trade on both spot and margin markets, with 3x cross margin and 10x isolated margin.
The second unit of Binance, where it is possible to trade futures contracts using leverage is Binance Futures USDS-M. The base currencies are BUSD and USDT stabelcoins.
The maximum leverage the exchange provides is 125x. But from last year, the platform introduced restrictions for new users. They can now use a leverage of 20x, which will gradually increase.
Trading bot for trading on the margin market
The RevenueBot trading bot service allows users to engage in margin trading, even without prior trading experience. You can buy a ready-made bot, with a proven configuration and strategy, that will trade for you. Besides, the advantage of trading bots is that you do not waste your time monitoring the charts and can study the market in peace.
One of the advantages of the bot is that it requires no investment to create and use. You will only pay a commission on successful trades. It will be 20% of each trade, but no more than $50 per month, for each type of trade.
RevenueBot has been an official partner of the Binance exchange since May 2021.
RevenueBot has quite a few other benefits that can make trading and entering the crypto world easier.
Disclaimer
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.