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CNBC Featured Crypto Trader: Margin Trading is Key to Capture Market Share

Tony Spilotro by Tony Spilotro
3 years ago
in Bitcoin, Cryptocurrency news
Reading Time: 3 mins read
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The crypto market is on fire once again, following the longest bear market on record. Throughout the bear market and especially during times of sideways consolidation and increasingly tightening ranges, crypto traders often turned to exchanges that offered margin trading in hopes of magnifying any profits generated and better keep up with the gains traders became accustomed to during the crypto bull market.

The crypto market environment has once again changed. More competitors are entering the margin trading arena than ever before, as it is the #1 most desired featured most cryptocurrency traders request. It’s become so important, one CNBC-featured trader believes that margin trading is the key to capturing market share.

Battle for the Best Margin Trading Experience, Winner Takes Market Share

During the bear market, BitMEX made quite a name for itself, as it has long been the main crypto exchange offering traders 100x leverage on Bitcoin trading, as well as the ability to “short” the market, earning off falling crypto prices. But as the market heats back up, more competitors are entering the industry, and established powerhouses are working on adding margin trading services of their own.

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In just a few short months, margin trading has become a hot topic across the crypto industry. As BitMEX frustrates users with order submission errors, and with Tether drama making Bitfinex less appealing for traders seeking leverage, it has opened the doors for many others to take notice.

Related Reading | Next Bitcoin Bull Run Will Be First Cycle Supported By Established Financial Firms 

Malta-based crypto exchange OKEx recently raised their max leverage from 3x to 5x. In a recent Youtube AMA, Coinbase CEO Brian Armstrong mentioned that his firm is considering adding margin in the future. Much of the recent interest in margin trading lately is due to Binance adding the option in the future. Thus far, Binance CEO Changpeng Zhao confirmed rumors that the firm is adding support for margin trading “soon,” but fell short of offering any additional details.

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It’s expected that Binance is to offer margin rates similar to OKEx, Kraken, or Bitfinex, which may not be enough for traders who have grown fond of the 100x offered by BitMEX.

https://twitter.com/JacobCanfield/status/1131872622562746368

CNBC-featured trader Jacob Canfield believes that margin trading is the key to capturing market share, and it could help Binance bring its Binance Coin utility token into the top 3 by increasing demand for the token that is used to reduce fees for traders.

Related Reading | Analyst: Bitcoin Price Rally Targets Between $12K and $22K Based on BitMEX History 

Binance has a lot going for it – it’s among the most popular exchanges by volume, and it offers one of the largest varieties of exotic altcoins. However, it lacks the ever important 100x leverage offered by BitMEX and and others.

Binance will have to prove itself to the crypto market once again, this time that the platform can handle margin trading and still maintain its large catalog of alts and massive trading volumes, and not experience the instability that has frustrated BitMEX traders for much of its existence.

Featured Image from Shutterstock
Tags: Binancebitcoincryptojacob canfieldMargin trading
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Tony Spilotro

Tony Spilotro

I'm Tony Spilotro. Behind the pseudonym, I'm a global remote work leader with a decade of award-winning content experience and excellence. Here, I explore my newfound passions pertaining to privacy, finance, economics, politics, cryptography, property rights, and other libertarian-esque views. I am a Bitcoin evangelist, maximalist, and educator whenever I can be, helping to spread its message of freedom from government control, monetary policy mismanagement, and passing the buck - literally – to future generations. My journey from a curious retail crypto investor to a serious Bitcoin advocate, trader, and technical analyst is an unusual one, but life-changing nonetheless and has become less about money and more about a long-overdue revolution. While a firm believer in the laws governing math and science, I am profoundly fascinated by the impact of astrology and astronomy including moon and solar cycles and planetary alignment and their ability to influence and potentially predict markets. It hasn't yet clicked for me as to how to put anything to use, but I consider it my current rabbit hole I can't yet dig out of. My perspective of growing up alongside the internet, the dot com era, the Great Recession, and roots in video games collecting coins and rare items caused Bitcoin to immediately make sense to me. Through all of these lenses, I seek to produce content that is educational and entertaining, and I thank you sincerely for taking the time to read what I have to say. Please follow me on Twitter at @tonyspilotroBTC and feel free to drop me a line if you would like to work together.

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