OKEx Exchange Increases its Leverage Level for Some Selected Cryptos
According to a recent report, a top Crypto Exchange—OKEx, has increased its Margin trading leverage for Bitcoin, Ethereum, Bitcoin Cash, EOS, and Litecoin.
OKEx Increases Leverage Level From 3x to 5x
OKEx, one of the largest crypto exchanges in terms of volume who has its base in Malta is set to increase its margin trading leverage level from 3x to 5x for EOS, Ethereum, Bitcoin, Bitcoin Cash, and Litecoin. It intends to do so by making use of its risk management system to influence higher trading volumes and to allow the leverage level to increase.
Trading pairs that are presently offering 5x margin trading leverage are:
- BTC/USDT
- ETH/USDT
- ETH/BTC
- LTC/USDT
- LTC/BTC
- ETC/USDT
- ETC/BTC
- EOS/USDT
- EOS/BTC
In terms of volume, OKEx is presently the second largest crypto exchange for spot trading, after
OKEx first started spot margin trading in February of last year and the only available trading pairs were ETH/BTC, XRP/USDT, and BTC/USDT. Margin trading enables customers to take advantage of their position by borrowing tokens. However, while the practice is a great privilege for traders, it can also lead to epic, unexpected losses.
The Financial Market Director for OKEx, Lennix Lai stated that:
“The beauty of margin trading is to use debt tomaximise the potential return. Yet, I would like to remind our users to trade margin with caution. Because margin would as well exaggerate your losses.”
The number of spot margin trading options keeps increasing, therefore signifying how much crypto trading platforms are beginning to resemble traditional brokerages whereby margin trading is not new. Crypto trading platforms which offer margin trading option includes Bitfinex, eToro, and Kraken.
BitMEX Offers Leverage of up to 100x
The biggest crypto derivatives exchange, BitMEX currently offers leverage of almost 100x on its daily Bitcoin/JPY futures contract and the unlimited Bitcoin/USD unlimited contract.
Presently, neither
