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Binance rolls out Futures and margin trading for sub-accounts

Sahana Kiran

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Source: Pixabay

Malta-based cryptocurrency exchange, Binance, has retained its position in the headlines following the latest array of developments in its network. According to the exchange’s latest update, Futures and margin trading for sub-accounts on Binance are now available for the community. The tweet read,

Almost a year ago, Binance had introduced support for sub-accounts, a development that allowed users to set up several trading accounts within one platform. In fact, the feature allowed users to hold about 200 sub-accounts under every Master account.

According to the exchange’s latest blog post, users can enable Futures and margin trading for sub-accounts through the User Center panel. Sub-accounts would inherit the Futures and margin trading VIP level, along with borrowing interests from their master accounts.  Furthermore, VIP limits would be the borrowing limit for sub-accounts.

The cryptocurrency exchange’s margin trading platform went live back in May and just recently, launched a VIP structure for the same. The VIP structure was mostly rolled out to retain customers. However, the eligibility of users would be decided by their BNB balance, as well as their 30-day BTC trading volume. These users would acquire about 10x of the standard borrowable amount, along with a 20% discount on daily interest rates.

Additionally, sub-account margin accounts in possession of the exchange’s native token BNB would also be part of the master accounts’ daily average BNB holding.

The blog post also mentioned API keys and read,

“Sub-account API keys can now also enable futures and margin trading functionality, now being able to call on the futures API and margin SAPI interfaces.”

Recently, the platform introduced its Binance Futures trading platform and recorded significant growth. A week ago, the daily trading volume for Binance Futures hit an all-time high as it surged passed $1 billion.

Sahana is a full-time cryptocurrency journalist at AMBCrypto. A graduate in Political Science and Journalism, her writing is centered around regulation and policy-making regarding the cryptocurrency sector across geographies.