Ouch Time: API Reveals Binance May Soon Add Altcoin Margin Trading
According to a recent Reddit post that references changes to the exchange’s API, Binance, the world’s largest crypto exchange, may soon introduce margin trading.
“This change has not been reflected on the documentation,” reads the post. “Further analysis of the response revealed that all 482 trading pairs have spot trading enabled and margin trading disabled; which makes sense. However, this API update implies that Binance is considering the implementation of margin trading features.”
the pace is remarkable. Looks like you weren't kidding during our podcast that this was in the works!
— Luke Martin (@VentureCoinist) March 20, 2019
In response to the API revelation, Binance CEO Changpeng Zhao tweeted an explanation, saying it was merely part of a systems upgrade to “future proof [the exchange’s] API framework.” A spokesperson for Binance redirected our request for additional information to CZ’s tweet, suggesting the exchange is not ready to reveal any more details of what it has planned.
That said, it wouldn’t be all that surprising for the functionality to appear sooner rather than later, as several Binance competitors have already implemented margin trading.
Photo: Hektor Ehring Jeppesen / Flickr
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.