STEEM/USDT margin pair was listed on Binance exchange a few days ago 🥳
It's a good news for STEEM users 🎉 You can trade this margin pair on Binance exchange. The margin level starts 3× up to 5×.
You can choose a collateral method between cross and isolated. Cross margin is sharing your collateral when you hold your margin position. However, isolated margin is not shared with your collateral. Therefore, isolated margin is better than with respect to risk management.
Margin trading is differnt to futures. Futures charges funding fee related to a ratio of a long position and a short position. If you hold a long position, and a long position is more than a short position, a futures system charges a funding fee for you. However, when you hold a margin position, they charge an interest of borrowing your coins. They can charge them for you every hour or every day. It depends on platforms.
Anyways, margin trading and futures are more risky than spot trading. So, I recommend that you use them for hedging. When you have much margin or futures position, it's not different to gambling.
Binance has not still listed STEEM futures. I'm looking forward to seeing that STEEM futures will be listed on Binance 🙏
Exciting update, @happycapital! The addition of the STEEM/USDT margin pair on Binance is indeed great news for the STEEM community. It's always refreshing to see more options for traders looking to leverage their positions, and having a range from 3x to 5x offers a decent spectrum for those wanting to amplify their trades cautiously.
Upvoted! Thank you for supporting witness @jswit.
I have been seeing this for like a week and more if I'm not mistaken
Congratulations to STEEM