EOS Margin Trading Begins on OKEx, Receives Largely Positive Response

EOS Margin Trading Begins on OKEx, Receives Largely Positive Response
фото показано с : blokt.com

2018-9-17 16:29

In a new blog post, OKEx informed its users that its margin trading facility for EOS received a positive response from the community. It suggested that since launching the feature on Sept. 6, the trading volume is growing stronger than ever. EOS is the most favored coin on the platform, and EOS/USDT is the second most traded pair.

EOS Trading Grows Stronger on OKEx

The platform declared via its blog that “EOS trading volume is growing stronger.” The fifth largest cryptocurrency in the world currently accounts for 18 percent of the total trade on the exchange.

OKEx capitalized on the opportunity to bring more EOS trading options to users and introduced margin trading. Margin trading is now available for EOS/USDT and EOS/BTC. The platform has also launched its new margin borrow limit and interest rate schedule, which slashes the daily trading rate to 0.02 percent.

A Guide for New Traders

Margin trading isn’t for everyone, but OKEx could be expecting some newbie investors to leap for the opportunity to leverage their available funds for better gains. The exchange provided a detailed user guide on its blog for those who are getting started with margin trades for the first time.

To begin trading, users must first transfer funds from their spot account to their margin account. Once done, they can visit the Token Trading page, where they will find token pairs with a “3X” or a “3x Leverage” tag. Only these pairs will be available for margin trades.

Once users decide the pair and select the volume, the system will automatically tell them how much borrowings they will need to make the trade. Interest on these trades will be accrued every 24 hours, and the loan must be repaid with the same token that the users borrowed.

OKEx also warned the customers that margin trading “is a double-sided sword,” and to handle it requires more financial knowledge and better risk management techniques. It also provided a series of articles that must be read by users who have never done margin trading before.

EOS Margin Trading Begins on OKEx, Receives Largely Positive Response was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.

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