Margin trading is now available on Coinbase Pro in 23 U.S states with 3x leverage
Coinbase has launched margin trading for users of its cryptocurrency trading platform, Coinbase Pro. Both individual and institutional investors in selected regions now have access to Coinbase margin trading. The company plans to expand access to more areas and provide more types of collateral.
Starting today, Coinbase Pro customers in 23 US states can access up to 3x leverage on USD-quoted books. Trading crypto on margin (or leverage) can amplify the impact of your trades by allowing you to borrow additional funds. https://t.co/RZTiV0eUpf
— Coinbase Pro (@CoinbasePro) February 12, 2020
Margin is one of the most requested features of the exchange. Trading margin (or leverage) can amplify the impact of your trades by allowing you to borrow more money.
If implemented as part of a responsible trading strategy, margin trading not only increases a trader’s position in a particular trade but can also help to diversify portfolios, allow hedging or arbitration on multiple positions without sending additional capital.
To be eligible for margin trading, individuals must live in one of the 23 states where the platform currently offers this feature. For institutional clients, they must be based in one of 43 countries or nine countries where it provides deposits to organizations presently.
The platform claims to have more than 30 million users trading over $ 150 billion. Coinbase previously offered margin trading of up to 3x leverage through the GDAX platform, but the service was later suspended. Launched in 2015, GDAX is the company’s professional trading platform for individuals; It became Coinbase Pro in May 2018.
- Nearly $392 Mln In Bitcoin Transferred Between Unregistered BTC Wallets With The Coinbase, PlusToken
- Zcash (ZEC) And Five Cryptocurrencies Are Now Available To Trade On Coinbase Pro In New York