Blockchain.com now offering margin trading services
Blockchain.com, one of the leading cryptocurrency exchanges in the world, has launched margin trading services to its users. This latest development comes as the platform intends to make it easier for more people to enter the crypto space.
In a press release earlier today, the crypto exchange said, "Today Blockchain.com, one of the world's oldest and most trusted cryptocurrency platforms, launched margin trading on its Exchange. Upon launch, users can access margin with up to 5X leverage in the BTC-USD trading pair in more than 150 countries."
With margin trading, investors can increase profit potential through leverage, which means increased buying and selling power on trades. Blockchain.com said it is offering one of the best margin trading services in the world as it offers .12% daily (.0005% hourly) on open margin positions.
Peter Smith, CEO and Co-Founder of Blockchain.com, while commenting on this latest development, stated that "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."
Blockchain.com added that margin trading is currently supported for Gold-verified users. However, the service is not currently available for users in the US, UK, Canada, Japan, Germany, Austria, Italy, France, The Netherlands and select other countries.
The cryptocurrency exchange is one of the first crypto trading platforms and has been operating for a decade. Blockchain.com said it is planning to become a publicly listed company soon after transacting over $1 trillion in cryptocurrencies over the past decade.
The platform is looking to capture more markets as the cryptocurrency space continues to attract millions of people globally.