Margin trading is becoming commonplace in the cryptocurrency industry. Several exchanges have recently indicated interest in launching margin trading options for its customers including leading crypto exchange Binance. Another exchange, Bithoven is also launching its margin trading service.
This according to the exchange is due to requests from traders for margin trading option on the exchange. As margin trading is quite a risky investment, customers are given an option to create a demo margin trading account on the website to gain some experience before using their digital assets to trade on a real account. This will ensure that the chance of losing users’ funds in the course of trading is greatly reduced.
The knowledge obtained through the trading simulator on the demo account will be used for trading on a real account with Bitcoin as the primary asset for now with the future addition of more assets in view. Traders are allowed to use trading bots and expert advisors to further boost their chances of succeeding.
Leverage is currently set at a maximum of 1:20 with tradable pairs including BTC/USD, ETH/USD, LTC/USD, XMR/USD, BCH/USD, ZEC/USD, DASH/USD, XRP/USD, EOS/USD, BCH/BTC, DASH/BTC, ETH/BTC, XMR/BTC and ZEC/BTC.
Bithoven is a high-tech multi-featured cryptocurrency trading platform that renders a wide array of services and has gained several loyal customers since its launch. While its services are unique, they are also user-friendly and easy to understand, thus giving users an opportunity to participate in trades with high technological advancement while understanding it fully.
Traders can easily speculate on price swings with CFDs using only a little capital and more easily enter and exit positions on the trading pairs, with all-in-one trading terminals available for web, desktop and mobile devices with no trading limits.
The exchange, however, expects traders going into margin trading to fully understand the risks involved and prepare to take responsibility accordingly. The United Kingdom lawmakers recently made a move to completely ban margin trading in the country because of its high risk. It is however still very popular among traders as it can also very easily earn one a fortune.