Bitcoin (BTC) wallet and exchange platform Blockchain.com has added margin trading service to its platform.
The platform stated that users have been regularly requesting the feature since 2019, and it’s time the company obliges. The platform announced that it will be expanding the convenience of its service via additional service.
The New Feature Offers Lower Daily Fees
Margin trading is dominated by traders who wish to trade higher amounts but do not have enough funds. As demand for such trades increases, many platforms have started offering the feature, with Blockchain.com becoming the latest to give in to users’ demands.
According to the announcement, the new service will be available globally, with users across 150 countries able to access it. Additionally, the margin trading option has one of the lowest fees, with most trades charging as low as 0.12% a day.
The product manager at Blockchain.com, Silvia Chen, commented on the additional feature, stating that the company is pleased that it’s able to offer lower fees on open margin positions.
Users Can Have Up To 5x Leverage
As a result of the extremely low fees, Blockchain.com’s Exchange margin has become one of the most competitive in the entire industry.
He added that users can now access the feature in the Exchange’s panel and they can select the “Margin” option when using the feature for the first time. Also, users have up to 5X leverage to choose for any of the trades they want to enter.
Blockchain stated that users can begin their margin trading immediately, as long as they meet the requirements set by the platform.
The Feature Is Only Available To Gold-Certified Users
Margin trading has gained increased attention since the boom in the crypto market. A few years ago, users were skeptical about this type of trading because they were not sure about the derivatives market. However, a lot of things have changed over the years, and there has been more demand for margin trading in the crypto sector.
However, the platform noted that margin trading is currently not available for users based in France, Austria, Germany, Italy, Japan, Canada, the United Kingdom, and the United States.
Also, the feature is available to only gold-verified users on the platform.