One of the world’s leading crypto exchanges BingXannounced a groundbreaking innovation that allows users to use their BingX Wealth savings as collateral for futures trading. This move allows BingX users to enjoy the double benefit of active trading as well as sound financial management.
With this new feature, BingX users can use their USDT savings in flexible or fixed term accounts as collateral for their futures transactions. An important advantage of this development is that the interest earned on these savings continues even if fluctuating losses are experienced from futures positions. This functionality is currently limited to perpetual futures trading. BingX intelligently determines the maximum amount of savings that can be used as margin and prioritizes longer-term ones first to provide flexibility. BingX charges a 100% funding rate for eligible asset products, which is significantly higher than the market average.
BingX users can expect ongoing interest income as long as account risk is healthy. Fixed-term savings remain in the deposit account after expiration and interest is automatically credited to the fund accounts. In case of forced liquidation, BingX stops accumulating interest, performs forced repurchase, and uses savings as collateral to offset accumulated losses. Users are required to return the principal of savings used as margin before redemption, and the platform prioritizes flexibility and refunds the shortest-term financial product.
BingX Chief Brand Officer Megan Nyvold, “This initiative underscores BingX’s commitment to setting the bar high and continually introducing original features that provide users with extraordinary opportunities. “By providing the ability to use BingX Wealth savings as futures margin, we are not only enabling more robust trading but also maximizing potential gains in the rapidly evolving crypto ecosystem.”
BingX Wealth offers an integrated wealth management solution that focuses specifically on maximizing the return on unused funds. It currently offers a variety of savings options, including flexible and fixed-term plans for major cryptocurrencies such as BTC, ETH and USDT, with attractive annual interest rates and a secure guarantee on principal amounts.
BingX About
Founded in 2018, BingX is a leading cryptocurrency exchange serving more than 5 million users worldwide. BingX offers diversified products and services including spot, derivatives, copy trading and asset management. All services are designed for the evolving needs of users, from beginners to professionals. BingX is committed to providing users with a reliable platform that empowers them with innovative tools and features to increase their trading proficiency.
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