Well-known crypto fintech platform Crypto.com has disclosed the launch of margin trading on its platform.
Users can now gain access up to 3x leverage on the recently launched margin trading feature on Crypto.com. BTC/USDT is, for now, the only trading pair supported by the feature. However, plans are in place to include more trading pairs in the near future.
According to an official blog post, margin trading on Crypto.com officially went live on November 30, 2020. Also, it is open to all users on the crypto fintech platform.
Crypto.com further confirmed this announcement via Twitter.
Margin Trading is now live on the https://t.co/vCNztABJoG Exchange!
➕ Add Margin to your account
💪 Get up to 3x Leverage!
— Crypto.com (@cryptocom) November 30, 2020
What Is Margin Trading?
Margin trading involves trading with crypto assets provided by a third party. Traders who provide the digital assets earn interest on their funds. Margin trading helps enhance profits gotten from trading as participants have access to more funds via borrowing.
For now, Crypto.com users participating in margin trading will gain access to as high as 3x leverage on BTC/USDT trading pairs. The fintech platform’s native token, CRO, will power the recently launched margin trading, providing better interest rates to users who stake CRO.
How To Set up a Margin Trading Account?
- First is to go to Margin Wallet.
- Click on the “open margin account” icon.
- Read, understand, and then accept the terms, agreements, and conditions.
- Lastly, send funds into your Margin Wallet.
Find out more about setting up a Margin Wallet on Crypto.com in the video below.
Step-by-Step Process of Using Your Margin Trading Account
- First, navigate to trade on the exchange, and then locate and click on the “Margin tab.”
- Next, click on the “borrow tab.”
- Input and confirm the desired amount.
To Carry Out a Repayment
- Click on “borrow again.”
- Select repay and input the amount to be repaid.
- Lastly, review and confirm payment.
Find out more about using the Crypto.com margin trading feature in the video below.
Known as a crypto fintech company, Crypto.com is interested in providing financial inclusion. The company also boasts of being on a mission to accelerate the world’s evolution to cryptocurrency.
Well-known for its regulatory compliance, the card-issuing firm stands out in the crypto fintech sphere. It is the first-ever crypto firm to achieve an “Adaptive (Tier 4) rating.” It also recently received Malta’s in-principle approval for a Financial Institution License, as well as a Malta Class 3 Virtual Financial Assets (VFA) License from the MFSA (Malta Financial Services Authority). Crypto.com is also the first crypto platform to receive an ISO/IEC 27701:2019, CCSS Level 3, ISO27001:2013, and PCI:DSS 3.2.1, Level 1 compliance certifications.
At the time of writing, CRO was trading at $0.066271, with a market cap of $1,455,376,169 and a 24-hour trading volume of $50,504,714.
Find out more about the crypto fintech platform on the Altcoin Buzz YouTube channel.