TALLINN, ESTONIA / ACCESSWIRE / July 15, 2020 / WhiteBIT, one of the top exchanges in the crypto space, has expanded the scope of its operation by offering margin trading with up to X25 leverage on its platform. This move positions WhiteBIT as the first exchange to offer such a competitive margin terminal in the CIS market.
Margin trading has become one of the go-to strategies for traders interested in consolidating their positions in the crypto market and multiplying profits. Regardless of this demand, only 15 to 30 platforms, which provide access to derivative markets and an option to trade with leverages, make up the global crypto margin trading market. Of this figure, just 5 exchanges, including Bitmex, Bybit, FTX, Bitfinex, and Deribit, provide a full-fledged margin terminal with advanced trading tools.
As such, the entrance ofWhiteBIT on the scene carries some weight because it will allow users to trade with leverages via a competitive margin terminal. Importantly, the nature of the exchange's operation and its target markets are other compelling reasons why this development is a significant boost for margin traders. Although WhiteBIT maintains a global presence, it primarily focuses on delivering crypto to fiat exchange services to European and CIS countries. And with the introduction of its margin trading feature, it will be the first and only exchange in the CIS market to provide an advanced margin terminal.
The terminal will enable up to 25X leverage to traders looking to multiply capital gains. However, for now, the platform has kicked off its margin trading feature with the launch of an MVP restricting users to 5X leverage. In other words, traders can open trades with a leverage of up to 5:1 with borrowed funds and increase their profits by fivefold. To further attract active engagement, WhiteBIT has adopted high-liquidity pairs on its margin terminal. The fiat currencies slated to feature on the margin terminal include Ukrainian Hryvnia (UAH), Russian Ruble (RUB), Euro (EUR), and Turkish Lira (TL). Within a month, the exchange plans on adding extra 5 crypto pairs featuring Ether, Litecoin, Ripple, and Ruble.
Besides, the exchange already offers services to a user base of over 180,000 people, of which 35,000 are active traders. Hence, providing high liquidity is one of WhiteBIT's strongest suits. Also, the exchange is committed to improving the dynamism of its margin terminal by adding a wide array of order types. The order types available on the margin terminal are limit, stop limit, stop market, and conditional orders. Subsequently, the platform will add 3 order types within the first month of operation.
Among other benefits of using WhiteBIT's margin terminal is the ability to capitalize on a price and payment policy that borders on competitive fees and instant withdrawals. WhiteBIT currently processes users' withdrawal requests within minutes and has a support center that is available 24/7. The platform will extend the same quality of customer support, responsiveness, and payment processing capacity to users opting for its margin trading feature.
Since it launched in 2018, WhiteBIT has maintained a transparent business policy and ensured that all of its products are user-centric and secure. To this end, the WhiteBIT team consists of over 100 blockchain specialists. It is worth noting that 65 of its blockchain experts are proven and experienced developers. Thus, the exchange, thanks to its dynamic and talented team, has consistently maneuvered the security and accessibility challenges prevalent in the crypto exchange landscape. Its track record as a secure and transparent market player among spot exchanges stems from its decision to store more than 95% of all assets in cold wallets. Hence, the platform is unsusceptible to hacking attempts to steal users' assets.
SOURCE: WhiteBIT Financial Company OÜ