Portfolio Margin Users Portfolio margin users should monitor the Unified Maintenance Margin Ratio (UniMMR) closely. Binance will automatically convert all OMG, WAVES, WNXM, and XEM balances in cross margin wallets under the portfolio margin account to USDT from 06:00 UTC on 2024-06-12. This conversion process may take approximately 24 hours or longer.

Binance Convert and Gift Card Binance Convert will delist these tokens and all associated pairs at 03:00 UTC on 2024-06-11. Similarly, Binance Gift Card will delist these tokens at 03:00 UTC on 2024-06-17. Users are encouraged to manage their gift cards containing these tokens in advance.

Binance Pay Binance Pay will also delist these tokens at 03:00 UTC on 2024-06-12. Users should update or cancel their trading bots before the cessation to avoid potential losses.

Trading Bots Services Binance will terminate trading bots services for these spot trading pairs at 03:00 UTC on 2024-06-17. Users are strongly advised to update and/or cancel their trading bots prior to the cessation of trading bots services.

Our Experience At CryptoUpdate.io, we personally lost $10,000 due to this delisting on our 2-year WAVES long position on futures. This action raises significant concerns about Binance’s trustworthiness. To be considered a reliable exchange, Binance should allow clients with open positions on delisted pairs to maintain those positions until they choose to close them. Instead, Binance forces the closure of these positions, often at a loss, which appears to benefit the exchange financially. This situation raises serious questions about the exchange’s integrity and client-focused practices.

The post We Lost $10,000 with Binance Due to Their Delisting: OMG, WAVES, WNXM, XEM to Be Removed on 2024-06-17 appeared first on Crypto Market Insights: Dive In with CryptoUpdate.io.

In our ongoing efforts to enhance trading experience, Binance Margin will be removing a comprehensive list of trading pairs. These include:

• BEL/BUSD
• BOND/BUSD
• BURGER/BUSD
• C98/BUSD
• CTXC/BUSD
• ENS/BUSD
• FLUX/BUSD
• ICX/BUSD
• IOTX/BUSD
• KAVA/BUSD
• KDA/BUSD
• LAZIO/BUSD
• MINA/BUSD
• NEO/BUSD
• OCEAN/BUSD
• ONT/BUSD
• POND/BUSD
• QNT/BUSD
• REEF/BUSD
• SANTOS/BUSD
• SFP/BUSD
• SUPER/BUSD
• STG/BUSD
• TLM/BUSD
• VIB/BUSD

Timeline to Note:

• October 2nd, 2023, 06:00 (UTC): Isolated margin borrowing for these pairs will halt.
• October 6th, 2023, 06:00 (UTC): All the above pairs will witness an automatic cancellation of pending orders, closure of user positions, and subsequent settlement. Post this, they’ll be delisted from Binance Margin.

Essential Details:

• These assets can still be traded using other pairs on Binance Margin.
• Users are cautioned not to modify their positions during delisting. We strongly urge the closure of positions or transferring funds from Margin Wallets to Spot Wallets before October 6th. Binance will not be accountable for any potential losses.

For any discrepancies between this version and others, the English version will be considered definitive.

Your trust drives us. Thank you for your unwavering support.

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Delisting Details

Binance Margin will be removing the following isolated margin pairs on 2023-09-28 06:00 (UTC):

• 1INCH/BUSD
• AERGO/BUSD
• ARDR/BTC
• ARDR/USDT
• DATA/BUSD
• DIA/BUSD
• ERN/BUSD
• FIS/BUSD
• IOST/BUSD
• IQ/BUSD
• KNC/BUSD
• LOKA/BUSD
• LTO/BUSD
• OM/BUSD
• RARE/BUSD
• SUSHI/BUSD
• T/BUSD
• THETA/BUSD
• YFI/BUSD
• ZEC/BUSD

Key Dates to Remember

• Borrowing Suspension: Starting from 2023-09-22 06:00 (UTC), isolated margin borrowing for the mentioned pairs will be halted.
• Automatic Settlement and Delisting: On 2023-09-28 06:00 (UTC), Binance Margin will initiate automatic settlements, cancel all pending orders related to these pairs, and subsequently delist them from Isolated Margin.

Important Notes for Users

It’s imperative that users do not attempt to modify their positions during the delisting procedure. Traders are advised to settle their positions and shift their assets from Margin Wallets to Spot Wallets before trading ends at 2023-09-28 06:00 (UTC). Any possible losses due to negligence will not be covered by Binance.

For any conflicts between translations and the original English version, the English interpretation will be deemed accurate.

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What You Need to Know About the ARK Perpetual Contract

Here’s a quick rundown of the key aspects of the newly launched financial product:

• Underlying Asset: ARK
• Settlement Currency: USDT
• Precision: Tick size of 0.0001
• Leverage: Up to 10x
• Availability: Round-the-clock trading
• Funding Rate: Capped at ±3.00%
• Margin Requirements: Minimum maintenance margin rate is 3.00%
• Multi-Assets Mode: Yes, it’s supported

A Word of Caution

Please be aware that Binance reserves the right to alter the contract specifications based on prevailing market conditions. This can include changes to the funding rate, tick size, leverage limits, and margin requirements. Also, all trades are governed by the Binance Terms of Use and the Binance Futures Service Agreement.

Multi-Asset Trading Flexibility

The introduction of Multi-Assets Mode means users can employ various margin assets while trading the ARK perpetual contract. For instance, you can leverage your BTC holdings as margin for this specific trading activity.

The post Binance Unveils High-Leverage ARK Perpetual Contracts appeared first on Crypto Market Insights: Dive In with CryptoUpdate.io.

dYdX, a decentralized finance (DeFi) crypto exchange, has announced that it will stop offering its services to users based in Canada and exit the country later this month. Here are some key points:

• dYdX has already stopped onboarding new Canadian users
• Existing Canadian customers have until April 14, 2023, to manage and liquidate all open positions
• All existing Canadian users will be moved to close-only mode on April 14, allowing them to withdraw their funds at any time

Regulatory Climate in Canada Cited as Reason for Exit

According to a blog post on dYdX’s official website, the DeFi exchange cited the regulatory climate in Canada as the reason for its decision to exit the country. Earlier this year, the Canadian Securities Administrators published a notice detailing enhanced rules and regulations that crypto exchanges were required to comply with. This included increased oversight, custody rules, and a ban on margin/leverage, among other things.

DYDX Token Takes a Hit

The announcement prompted a drop in the DYDX token, the governance token of the layer-2 protocol that powers the namesake DeFi exchange. The token sank almost 5% to $2.4 before recovering to $2.51, and its market capitalization shrank by more than $30 million.

In conclusion, the DeFi exchange dYdX has decided to suspend services for Canadian users and exit the country later this month due to the regulatory climate in Canada. Existing Canadian users will have until April 14 to manage and liquidate all open positions before being moved to close-only mode. The decision has had an impact on the DYDX token, which experienced a drop in value.

The post DeFi Exchange dYdX to Suspend Services for Canadian Users appeared first on Crypto Market Insights: Dive In with CryptoUpdate.io.

Margin trading combines futures and spot trading elements to enable investors to trade cryptocurrencies with leverage. Just like spot trading (directly selling or buying an asset), margin involves the quick exchange of a cryptocurrency asset. The only difference is the capability to include leverage into these trades, increasing the trade value from two to ten times; the same is possible with futures contracts.  

Basically, margin trading has its features beyond these two simple ideas. For example, investors should trade collateral (called margin) and then choose the needed leverage they want to invest (2x, 10x, etc.) to use leveraged funds. While doing margin trading, investors should be careful to promote changes that take place, particularly with cryptocurrency, because margin calls may happen frequently. 

Margin Call

A margin call occurs when a trade goes adversely, potentially costing investors huge losses based on their leverage ratio. In such circumstances, the exchange will conduct a margin call wherein an investor has two choices: add collateral or Reduce position.

A trader can decrease the imaginary exposure of the position to avoid liquidation and, consequently, reduce the leverage of the position. On the other hand, the investor can also invest margin towards the trade-in, proving that they have adequate money to keep managing the trade. 

Margin trading is utilized in multiple cases: one of the most famous use cases is hedging against other assets or a portfolio. Hedging comprises opening new positions that are adversely associated with current positions. Traders and investors hedge their portfolios as insurance for mitigating future losses. 

While margin trading can aid you in earning huge revenues, it should not be done without applying tactics like stop-limit orders. Or else, small market shifts can be very expensive to an investor. Just like you may discover success with higher leverage, you may also acquire a loss of the same scale.

Why is Binance Margin good for you?

Exotic pairs: Margin trading gives admission to exotic trading pairs. That comprises two cryptocurrencies paired together (ETH and BTC). Rather than selling or buying the currencies themselves, the investor is wondering about the relative activity of the two. Investors can easily trade pairs with binance with leverage of up to ten times. Remember that the more unstable an asset’s cost is, the less liquidity the marketplace possesses for it. That is because the asset is less trustworthy to wager on, causing fewer trades to be founded in that marketplace. 

Multi-assets collateral: exclusive to margin trading is the capability for traders to invest numerous assets as collateral to scrounge leverage. On binance, traders can do it in the cross-margin mode. Thus, rather than investing just Bitcoin into a BTC-based margin trade, traders can use their ETH and BTC, or USDT, BUSD, etc., to denominate their collateral. They invest numerous assets as collateral, enabling traders to run with more elasticity when opening trades.

Arbitrage: Margin traders can enjoy arbitrage chances when the unstable subsidy rate on futures pairs. For example, when the USDT/BTC perpetual funding rate is pessimistic, you can use margin to short the trade with USDT/BTC while using a long futures USDT/BTC endless trade to make a profit with lower risk. Therefore, investors are not essentially reliant on the costs of primary assets but are more alarmed by the markets’ behavior. Because the two trades placed in opposite directions, it doesn’t matter the way marketplace trends, reducing the trader’s risks. 

Advice for protecting your asset when trading margin

1. Choosing a trustworthy platform like binance

Cryptocurrency exchanges are where investors can purchase, sell and translate different cryptocurrencies. They are essential for cryptocurrencies to be trade. Some platforms give the most competitive speeds or rates, while others give focused financial products. You should select Binance because it is the best cryptocurrency exchange for lower charges as it features one of the most generous fee structures across all the trading exchanges. Binance is the biggest cryptocurrency exchange in the world by trading volume. Binance also gives discounts for using the company’s proprietary cryptocurrency (BNB) to sell and buy other coins.

2. Keep monitoring your LTV

The LTV (loan-to-value) ratio is an assessment to calculate lending risk. The ratio assesses the notional worth of a loan against the marketplace’s worth of its collateral. For example, a higher LTV ratio shows a higher monitory risk. Binance utilizes the LTV ratio to compute the risk altitude of your cross collaterals. 

3. Use Cross Margin or Isolated Margin with complete understanding

Now Binance supports Isolated Margin and Cross Margin trading. You can effortlessly choose Isolated or Cross Mode on the trading page. The margin shared to a position limited to a specific amount in an isolated margin. If the margin goes down the Maintenance Margin level, the positions will be liquidated. But, you can remove and add margin at will come under this method. The margin allocated between open positions with a similar settlement cryptocurrency in the cross margin. If required, a position will grab more margins from the overall sum balance of the equivalent cryptocurrency for avoiding liquidation.

Why should you prefer Margin Trading?

• Margin trading supports many cryptocurrencies like USDT, BNB, ETH, BTC, and more.
• Effectively dependably manage your transactions plus trade.
• Binance Margin Trading offer brilliant transaction depth.
• Get the perfect transaction charges for quality service. 
• An insurance fund is the best feature in margin trading that safeguards your account when your assets-liabilities (equity) are less than 0 or the assets of the promised currency borrowing orders are in debt. 
• To help users avoid extreme trading, margin trading has launched a cooling-off period function. 
• And the risk fund feature safeguards your virtual assets from all the possible risks.

Conclusion

Margin trading can reveal investors’ opportunities engaged in other trade methods when margin trading with attention and purpose can become a lucrative and fun endeavor. People with enough experience in trading must perform trading in the margin. Additionally, investors should realize that involved risk in margin trading. Plenty of helpful tools such as stop-orders must be utilize whenever possible. 

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