Blockchain.com exchange introduces Bitcoin margin trading

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Bitcoin (BTC) wallet and exchange platform Blockchain.com announced the launch of margin trading services.

In a blog post published on Tuesday, Blockchain.com stated that bitcoin margin trading has been a regular request from users since it launched its exchange service in 2019.

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According to the announcement, the platform will introduce margin trading for the Bitcoin-US dollar pair (BTC / USD) with up to 5x leverage.

The exchange’s bitcoin margin trading service will be available to users in approximately 150 countries, with significant exceptions for Italy, France, Canada, and the United States. Other excluded jurisdictions are Japan, Germany, Austria, the United Kingdom and the Netherlands.

Only gold-verified users with full identity verification will have access to the margin trading function, according to Tuesday’s announcement.

In terms of costs, the announcement stated 0.12% of the daily trading fees for open margin trading positions, which is 0.02% per four hours.

The introduction of margin trading is the latest milestone for Blockchain.com since adding cryptocurrency exchange services to its product catalog.

As early as August, the platform topped $ 1 trillion in crypto transactions and announced that it is considering going public (IPO) by 2023.

Related: Blockchain.com says goodbye to the Big Apple, hello to Miami

Blockchain.com’s IPO plans are part of the emerging trend of exchanges and other crypto firms seeking public listings and following in Coinbase’s footsteps. In fact, companies like Kraken and Circle are also considering listing on the stock exchange.

The wallet and exchange platform also ran multiple rounds of fundraising earlier this year, hitting a valuation of $ 5.2 billion in March. Blockchain.com reportedly used the capital to develop its institutional business.

As previously reported by Cointelegraph, Blockchain.com partnered with Unstoppable Domains to introduce username-based transactions for 32 million verified customers in June.