Binance Raises Borrowing Limits on Margin Trading
Binance cryptocurrency exchange increases the amount of funds available to users when participating in margin trading. This is evidenced by the information posted on the reference page.
So, if earlier users could borrow up to 5 bitcoins to fund their positions, now the limit for the minimum VIP 0 level is 10 BTC, and for the maximum VIP 8 – 100 BTC.
Limits for other supported cryptocurrencies have been changed in a similar way. For example, VIP 0 users can still borrow only 100 BNB, while for VIP 7 and above this value is 1,000 BNB.
In addition, funding rates for margin positions have been reduced for VIP level 1 and above..
However, the latest update does not contain any information on the possibility of increasing the leverage limit. Earlier, Binance promised that it would try to limit the access of inexperienced traders to high-risk margin positions..
“There will be no such thing that someone can come and immediately take advantage of the maximum leverage. You have to prove that you are a competent or experienced trader, “- said Binance Chief Strategy Officer Jin Chao in June..
Also today USD Coin, Litecoin and Ethereum Classic were added to the margin trading section on Binance.
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