Binance Futures Introduces 125x Cryptocurrency Trading Leverage
In a blog post published October 18, 2019, Malta-based cryptocurrency exchange Binance announced that it is increasing the platform’s maximum trading leverage to 125x in addition to launching a leverage adjustment function.
Binance Futures Increases Leverage Trading Cap
In an attempt to further dig its heels in the burgeoning digital currency industry, the largest cryptocurrency exchange by reported trading volume has decided to increase its maximum trading leverage to 125x for bitcoin (BTC)/USD futures contracts. With this, Binance users will now be able to select any leverage between 1x to 125x depending on their appetite for risk.
The exchange has also enabled a leverage adjustment function to make it easier for its users to adjust leverage through a pop-up screen. The pop-up shows the “maximum position” that the user can trade-in with the current level of leverage. Interested users can know more about the leverage adjustment function here.
Commenting on the development, Binance CEO, Changpeng Zhao, said:
“We have seen an increase in institutional participation in trading, and they are flocking to Binance Futures. The market has been demanding a product with superior stability and performance; now we are providing one.”
It’s worth noting that with 125x trading leverage, Binance has now eclipsed rival cryptocurrency exchange BitMEX in terms of providing the highest leverage position for digital asset futures contracts. Notably, BitMEX provides 100x trading leverage for some of its cryptocurrency futures contracts.
Binance: Much More than a Crypto Exchange
Diversification of risks is a success mantra for any kind of business and the cryptospace is no different. A number of business concerns in the nascent industry are actively trying to get their feet dirty in peripheral services and products, including Binance.
As reported by BTCManager on August 26, 2019, Binance announced that it will launch cryptocurrency lending services for its native digital token – Binance Coin (BNB).
Similarly, on September 5, 2019, the CZ-led exchange launched phase two of its lending program offering users 14-day and 28-day fixed-term lending contracts. At the time, the exchange extended support for cryptocurrencies including Bitcoin (BTC), Tether (USDT), Cardano (ADA), ether (ETH), and Ethereum Classic (ETC).