Binance has confirmed rumours it’s upcoming margin trading service. Earlier on Friday, Binance tweeted screenshots of its platform in dark and light modes, prompts users to select the most preferred one.
In the photograph, there was a dedicated tab titled “Margin,” with a reminder that margin trading carries a “higher potential profit,” but also “greater risks.” Margin trading refers to using borrowed funds from a broker or exchange to trade an asset.
The margin trading service is the latest offer to be developed by Binance, the world’s second largest cryptocurrency exchange. Margin trading services is already available on other crypto exchanges, including Coinbase’s GDAX, Kraken, OKCoin, Huobi, and Poloniex.
Binance’s new features and services are part of its plans for expansion. Back in April, the exchange launched its firs decentralized exchange Binance DEX, which allows users to trade cryptocurrencies directly from their digital wallets without a custodian mediating the transactions. It also set up a fiat-to-crypto exchange in Singapore and unveiled a new platform in Australia that allows users to buy bitcoin with cash from newsagents.