Binance, one of the leading cryptocurrency exchanges, has expanded its services by adding four new assets to Cross Margin. The newly added PENDLE, STORJ, XEC and XVG assets offer users additional borrowing options for trading.
Binance Adds New Altcoins to Cross Margin
Adding these assets to Cross Margin allows investors to use their existing collateral to borrow and margin trade these cryptocurrencies.
Cross Margin trading allows users to strengthen their positions by borrowing funds against their current assets, thereby increasing their trading potential.
New Cross Margin pairs include PENDLE/USDT, STORJ/USDT, XEC/USDT and XVG/USDT. These pairs offer traders opportunities to explore and capitalize on the price action of these particular cryptocurrencies against the popular stablecoin USDT (Tether).
Cross Margin trading involves using borrowed funds as leverage against collateral, which brings both potential gains and risks.
Investors should be careful and do extensive research before starting margin trading in order to understand the risks involved and manage their positions effectively.
Binance continues to expand its platform and introduce new features to meet the evolving needs of cryptocurrency investors.
The addition of PENDLE, STORJ, XEC and XVG to Cross Margin is another step towards improving the trading experience and offering more flexibility to Binance users.
As with all investing and trading activities, users are advised to do their due diligence, assess their risk tolerance and seek professional advice if needed.
*Not investment advice.