Blockchain.com launches margin trading: 5x leverage on BTC/USD
With .12% daily (.0005% hourly) on open margin positions, Blockchain.com claims its margin rates are among the lowest and most competitive in the industry.
Blockchain.com has launched leveraged trading on its cryptocurrency exchange, featuring margin with up to 5:1 leverage in the BTC-USD trading pair.
The margin trading service, available in more than 150 countries, allows traders to multiply exposure to the markets, both increasing the potential for profit but also for loss.
Blockchain.com is one of the world’s oldest and cryptocurrency platforms and is now following the leveraged trading trend that has taken the crypto space by storm.
The platform allows flexibility with fund management, so traders can use either a base or counter currency to open margin positions.
With .12% daily (.0005% hourly) on open margin positions, Blockchain.com claims its margin rates are among the lowest and most competitive in the industry.
Peter Smith, CEO and Co-Founder of Blockchain.com, said: “We’re always iterating and improving our core product experience and are excited to roll out the most requested features like margin. We are always looking for ways to expand access to cutting edge financial products to our users.”
Although available in 150 countries, margin trading is not supported for users in the United States, United Kingdom, Canada, Japan, Germany, Austria, Italy, France, The Netherlands, among other countries.
Margin trading is currently supported for Gold-verified users on the Blockchain.com’s Exchange platform. The London and Miami-based company caters to millions of users across the globe.
Blockchain.com has raised more than $500 million in funding from leading global investors including Eldridge, GV, Kyle Bass, Lakestar, Lightspeed Venture Partners, Moore Strategic Ventures, Rovida Kruptos Assets Limited, and others.
The $500 million was raised in two funding rounds with a month between them. The first valued the company at $3 billion and raised $120 million. The second round valued the company at $5.2 billion and raised $300 million.
The crypto wallet provider has recently surpassed $1 trillion in crypto transactions and the firm seems to want to go public in about 18 months.
Macrina Kgil, chief financial officer at Blockchain.com, noted that for an initial public offering to be successful, there are certain prerequisites they have to keep an eye on such as having a well-defined corporate structure.
The cryptocurrency exchange has reported a 300% increase in active users in 2021 as interest in cryptocurrencies soared on the back of a heady bull run earlier this year.
