COBINHOOD, a cryptocurrency service platform with a zero-fee exchange, today has confirmed that the launch of margin trading on its platform will be scheduled to begin on Friday, October 19th, as previously announced.
From the novice to the experienced, the new margin capacity will allow users to trade more than they are currently able to, with 3x leverage for BTC/USDT, ETH/USDT, ETH/BTC, and COB/ETH being introduced. Margin funding provides funds to margin traders in return for interests earned on funding amounts provisioned. The service will allow for short selling.
“We are excited to officially roll out our margin trading feature, as we continue to improve and expand the COBINHOOD platform. Unlike other cryptocurrency exchanges, at COBINHOOD we are constantly innovating our features and services to support traders. We look forward to improving the COBINHOOD platform and offering innovative features that will keep the industry moving forward as it grows.”
Wei-Ning Huang, Co-founder and CTO of COBINHOOD
Ripple (XRP) and NEM
COBINHOOD will also start on Friday, October 19th (19th October 00:00 UTC+0) support for XRP to deposit, withdraw, and trade. XRP/BTC and XRP/USDT will be available.
Similarly and at the same time, NEM will be listed. Upon listing, XEM/BTC and XEM/USDT will be available.
In addition, COBINHOOD is kicking off the launch with a Margin Trading Golden Mission, an exclusive benefit for COBINHOOD users available from October 19th to December 19th. During this time, those who complete designated margin trading transactions and margin funding bids will receive free COB and tickets for Candy Machine, COBINHOOD’s lottery program. Users can get 150 COB and 25 candy machine tickets in total if they complete the entire Margin Trading Golden Mission.