Bitfinex Introduces Margin Trading for AVAX and LUNA
Bitfinex users can now use margin trading for Avalanche pairs (AVAX/USD or AVAX/USDt) and Terra pairs (LUNA/USD or LUNA/USDt). This new feature will become active from 2 pm UTC on August 5, 2021. The maximum leverage for these pairs will be 3.3 times. The initial margin will be 30%, and the maintenance margin will be 15%.
Margin trading is a more lucrative option for investors compared to traditional trading. This is because margin trading allows traders to borrow funds to increase their leverage. But, just like any trade in the open market, there are also many risks associated with margin trading. As the leverage on margin trading is higher, the risk factor also goes up. The world of cryptocurrencies and digital assets is quite volatile in general.
Bitfinex is the online Indonesia crypto exchange established in 2012, based out of Hong Kong. Users can trade in popular altcoins as well as in digital tokens (BTC/USD) pairs. Bitfinex has one of the highest trade volumes among most international cryptocurrency exchanges.
Bitfinex is known for its margin trading services and its in-house trade indicator services for Bitcoin long and shorts. But Bitfinex customers mention that the verification process for the exchange is very time-taking and cumbersome. For more detailed information about the exchange, consult a Bitfinex review.
Bitfinex has introduced margin trading for new pairs to make cryptocurrency trading and more attractive for traders. The world of digital asset trading is still growing. New altcoins and tokens are being added, and the market is expanding. Cryptocurrency exchanges and service providers are also trying to expand this trend by introducing more products and services. In the coming years, cryptos may become a major currency for financial transactions all over the world.