How To Trade Crypto On Margin On Binance - (with screenshots)
I have written several simple step to step guides for trading cryptocurrencies on Binance in the past that have been very well received. You can read them at bottom of this story.
In this story, I wish to show a step to step guide for margin trading on Binance using screenshots.
What is Margin Trading?
Margin trading is trading with borrowed funds. It’s as simple as that.
The platform lends you money which could be 3 to 10 times your collateral. They then charge you hourly interest for as long as you are holding these funds.
When trading margin, a trader could increase their profits making 3 to 10 times the amounts they would have made trading the same pair on the spot market.
And in the same way, their losses could be exacerbated. That’s why being super keen and super vigilant is very important when trading margin.
A trader has to be very good on the spot market for them to turn good profits trading margin.
Like all trading, a good knowledge of fundamental and technical analysis comes in handy for a trader to turn profits trading margin.
