Binance Raises Max Margin, Leverage on Bitcoin Futures to 125X

Binance Raises Max Margin, Leverage on Bitcoin Futures to 125X
Share on facebook
Facebook
Share on twitter
Twitter
Share on reddit
Reddit
Share on email
Email
Share on linkedin
LinkedIn

Binance.US — the United States-focused wing of major cryptocurrency exchange Binance — announced that its customer’s dollar deposits are eligible for Federal Deposit Insurance Corporation (FDIC) insurance coverage.

FDIC insures deposits up to $250,000

In a blog post on Oct. 18, Binance.US announced that the exchange holds its U.S. dollar deposits in pooled custodial accounts at different banks that are insured by the FDIC, which is a United States government agency designed to protect consumers and the U.S. financial system. Binance.US explained:

“The pooled custodial accounts are maintained in a manner that provides access to pass-through FDIC insurance coverage up to the depositor coverage limit, which is currently $250,000. FDIC insurance coverage protects depositors against the risk of loss in the event that an FDIC-insured bank fails.”

The FDIC was established in 1933 to provide confidence in the stability of the U.S. financial system and prevent the widespread closure of banks during the Great Depression.

Institutional cryptocurrency prime dealer SFOX started offering state-insured bank accounts for its traders. SFOX stated at the time that the move was an industry first.

Binance raises margin leverage and starts accepting fiat

Earlier today, Cointelegraph reported that Binance’s futures platform is increasing maximum leverage and margin on Bitcoin (BTC)/Tether (USDT) contracts to 125x.

Binance CEO Changpeng Zhao recently confirmed that the crypto exchange began accepting fiat currencies through online payment service Alipay and mobile messaging and payment app WeChat. Zhao explained that Binance is not working directly with WeChat or Alipay and that users are still able to use them for peer-to-peer transactions.

Leave a Comment

AirBNB Now Accepts Bitcoin via Fold App

AirBNB Now Accepts Bitcoin via Fold App

Bitcoin payments app Fold now supports home-sharing giant Airbnb, the firm announced on Nov. 11. Now Fold users can get 3% back in Bitcoin (BTC) on every

Sign Up To Receive Your FREE Video Tutorial Training....
How to Quickly & Exponentially Increase Your Crypto Account Earnings In Just Under 60 Days, With This One Simple Secret Method
Click Here to Watch Your Video Tutorials
*No prior technical analysis experience or knowledge required
We hate spam as much as you do. We'll never send you any
Sign Up To Receive Your FREE Video Tutorial Training....
*No prior technical analysis experience or knowledge required
How to Quickly Build Your Crypto Account to Unimaginable Profits, In Just Under 60 Days, With This One Simple Secret Method
Click Here To Watch Your Free Video Tutorial
Learn How to Quickly Build Your Crypto Account to Unimaginable Profits, In Under 60 Days, With This One Simple Method
*No prior technical analysis experience required
CLAIM YOUR FREE VIDEO TUTORIALS