Margin trading cryptocurrencies, what could possibly go wrong?
Nothing—or at least that's what Binance is hoping. The crypto exchange is going to offer margin trading "soon," according to a TechCrunch report, and it is apparently already beta testing the feature.
Expanding crypto trading with margin account support "is seen by many as an important growth vector for crypto trading," according to the report. There are already half a dozen exchanges offering margin functionality, including Coinbase's professional-focused GDAX exchange, but Binance is one of the world's largest exchanges with a 30-day volume of more than $46.9 billion, according to data from CoinMarketCap. Coinbase is also "considering" margin trading for its retail customers, according to the Norwegian-based crypto publication CCN.
It hasn't been entirely smooth sailing as of late for Binance, however. Earlier it this month it lost $40 million in Bitcoin, and even some two-factor authentication codes and API tokens, because of a hack.