According to an official statement by Binance on July 11th, 2019, a platform that supports margin trading is now a part of cryptocurrency exchanging giant’s ecosystem, Cryptocheatsheet reports.
The first signs of the imminent introduction of margin trading by Binance were found all the way back in March by a Reddit user who had claimed to be a programmer. In May, Changpeng Zhao, CEO of Binance, officially confirmed that the feature is in the works during a Periscope AMA session. He said:
"Yes, we are working on a margin [trading] system that’s rolling out actually very, very soon."
Changpeng Zhao believes that the new platform covers the needs both of the institutional and retail traders, helping them to carry out successful trades, all while making as much profit from each one as possible.
Introduction of the margin trading is a logical move for the exchange, keeping in mind the demand for such functionality. Yi He, co-founder of Binance, said:
“With margin trading being one of the most requested services from our community, this is a testament to the large market demand from retail and institutional traders alike and its promising possibilities in the future.”
Users will be able to use Binance Margin Trading platform via the newly updated Binanceinterface. As for now, the margin trading functionality will be available for users worldwide, except those living in the US and five other countries. They will be able to move their digital assets from Binance Wallet to the Margin Wallet and back free of charge.