Sponsored By
The Daily Brief

Massive Crypto Exchange Offering Margin Trading 'Soon'Massive Crypto Exchange Offering Margin Trading 'Soon'

Binance, one of the world's largest crypto exchanges, is reportedly in beta testing for margin trading cryptos.

Samuel Steinberger, Senior Technology Editor

May 24, 2019

1 Min Read
crypto currencies phone
Marc Bruxelle/iStock/Getty Images Plus

Margin trading cryptocurrencies, what could possibly go wrong?

Nothing—or at least that's what Binance is hoping. The crypto exchange is going to offer margin trading "soon," according to a TechCrunch report, and it is apparently already beta testing the feature.

Expanding crypto trading with margin account support "is seen by many as an important growth vector for crypto trading," according to the report. There are already half a dozen exchanges offering margin functionality, including Coinbase's professional-focused GDAX exchange, but Binance is one of the world's largest exchanges with a 30-day volume of more than $46.9 billion, according to data from CoinMarketCap. Coinbase is also "considering" margin trading for its retail customers, according to the Norwegian-based crypto publication CCN.

It hasn't been entirely smooth sailing as of late for Binance, however. Earlier it this month it lost $40 million in Bitcoin, and even some two-factor authentication codes and API tokens, because of a hack.

Want The Daily Brief delivered directly to your inbox? Sign up for WealthManagement.com's Morning Memo newsletter.

About the Author

Samuel Steinberger

Senior Technology Editor, WealthManagement.com

Samuel Steinberger is Senior Technology Editor for Informa Connect’s WealthManagement.com. In his role, Mr. Steinberger provides the publication’s wealth and financial technology coverage. 

Mr. Steinberger’s editorial insight and familiarity with technology accelerates Informa’s growth within the financial advisor and wealth management communities, providing in-depth news for advisors and financial professionals. 

Before joining Informa Connect, Mr. Steinberger produced documentaries with former CNN anchor Soledad O’Brien at Soledad O’Brien Productions (formerly Starfish Media Group). He specialized in research, shooting and editing, as well as finding distinct voices to explain topics like mental health, poverty and racial divide. 

Prior to joining Soledad O’Brien Productions, Mr. Steinberger managed multi-departmental technology projects for global legal technology leader Transperfect Legal Solutions. After obtaining his graduate degree in journalism from Columbia University, he completed his transition from technology management to media. 

Mr. Steinberger is an award-winning journalist, author and researcher who has written, edited and reported for a number of publications, including The New York Times, Financial PlanningAmerican Banker and PBS. He is founder of beverages publication Give Me Weird Drinks

Mr. Steinberger’s technology analysis and insight has been featured in several books on virtual and augmented reality. Mr. Steinberger has received awards and recognition for his reporting and research, including the American Business Media's prestigious Jesse H. Neal Award for editorial excellence.

Follow on Twitter: @slsteinberger