Binance Adds GNS and More Pairs on Cross Margin & Isolated Margin
Cryptocurrency exchange Binance has announced the addition of a new borrowable asset, GNS, on both its Cross Margin and Isolated Margin platforms. In addition, the exchange has also introduced new margin pairs to its platform.
The new Cross Margin pairs include GNS/BTC and GNS/USDT, while the new Isolated Margin pairs include GNS/BTC, KEY/USDT, and USTC/USDT.
Binance users can now explore margin trading on the platform with these new pairs, which will enhance the flexibility and opportunities for traders.
It’s important to note that Binance provides a comprehensive list of the most up-to-date marginable assets available and further information on specific limits, collateral ratio, and rates on its website under Margin Data.
The exchange reminds users that in the event of any discrepancy between the translated versions and the original English version, the English version will prevail.
What is Binance?
Binance is a cryptocurrency exchange that allows users to trade over 300 cryptocurrencies. The exchange has risen to become one of the largest and most popular cryptocurrency exchanges globally, consistently ranking among the top 3 in trading volume.
Users can buy, sell, trade, and store cryptocurrencies on the platform, offering a variety of features and services to its users. The exchange operates in more than 190 countries across the world, offering a user-friendly interface and a range of trading tools that make it a popular choice for both beginners and experienced traders.
What Are Cross and Isolated Margin Trading?
Binance offers margin trading, a feature that allows traders to borrow funds and trade on leverage. Margin trading provides traders with more opportunities to take advantage of market movements and can enable them to make larger profits.
On Binance, margin trading is available in two forms: Cross Margin and Isolated Margin.
Cross Margin Trading: This trading feature allows traders to access most of their funds in their accounts as collateral. This ensures that traders’ positions remain open even if they don’t have sufficient margin maintenance requirements.
Isolated Margin Trading: This trading feature enables traders to use a specific amount of funds as collateral for a specific trade rather than using their entire margin account balance. It helps traders manage risks more effectively and stops one bad trade from causing a massive loss.
Why Trade on Binance?
Binance offers several advantages to traders who wish to trade on the platform. Here are some of the reasons why traders favor the exchange:
1. Multiple Trading Options: Binance offers a variety of trading options to its users, including spot trading, margin trading, and futures trading. This makes it easy for traders to choose the trading options that suit them best based on their interests and skill level.
2. Low Fees: Binance charges some of the lowest fees among crypto exchanges, with a fee of only 0.1% per trade.
3. High Liquidity: With a daily trading volume of over $5 billion, Binance is one of the most liquid exchanges globally. High liquidity ensures that traders can quickly and easily execute trades at fair market prices.
4. Security: Binance takes security seriously and has invested heavily in security infrastructure and protocols to protect its users’ funds. The exchange uses two-factor authentication (2FA) for logins and withdrawals, and users can also activate withdrawal whitelist to protect their funds from potential phishing attacks.
Conclusion
The addition of GNS as a borrowable asset and the introduction of new margin pairs on both Cross and Isolated Margin trading on Binance further enhances the platforms’ flexibility and opportunities for traders. As one of the largest and most popular cryptocurrency exchanges globally, Binance offers users various trading options, low fees, high liquidity, and robust security features. With the exchange operating in more than 190 countries, traders can benefit from its user-focused interface and range of trading tools to execute trades efficiently and securely.
