Margin Trading on BitXmi. All you need to know.
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Margin Trading on BitXmi. All you need to know
From today, December 22, margin trading is available on BitXmi.
Margin trading is a type of trading in which a trader borrows funds from an exchange to be able to trade any cryptocurrency. There are 20+ pairs available on BitXmi for trading paired with USDT, BTC, ETH. Margin trading is very popular among traders due to its high flexibility and the ability to make large profits without a lot of funds.
Leverage Account on BitXmi
Switch to a margin account on BitXmi crypto exchange. To do this, you need to register or log in to an existing account on BitXmi. Next, go to the Balances tab and select Leveraged account.
Click “Transfer” opposite the pair you have chosen for trading, for example, BTC/USDT.
Transfer funds from a Digital (Spot) Account to a Leveraged Account. For example $10000.
The funds that you borrow on the exchange are called leverage. At BitXmi, you can use up to 3x leverage. With leverage, trading results are enhanced so that you can make big profits from successful transactions.
How to use Margin trading on BitXmi?
If you want to use leveraged funds for trading, you can select the “Margin” tab and trade using limit, market orders.
Your margin trading balance determines the number of funds that you can borrow at a fixed rate of x3. For example, if you have 1 BTC, you can borrow 2 more.
After selecting the coin and the amount you want to borrow, click “Confirm”.
The bitcoin you borrowed will then be credited to your margin account. You will then be able to trade with borrowed funds with 2 BTC in debt plus an interest rate.
Free transfer of funds
If you want to transfer your funds back from your margin account to your regular wallet, click “Transfer” and use the button between the two wallets to change the direction of the transfer. Next, select a coin and amount, and click “Confirm”.
You can freely move your funds from one wallet to another without any fees.
Happy trading with leverage on BitXmi!
Disclaimer: Bitxmi News is a news portal and does not provide any financial advice. Bitxmi's role is to inform the cryptocurrency and blockchain community about what's going on in this space. Please do your own due diligence before making any investment. Bitxmi News won't be responsible for any loss of funds.