Indian cryptocurrency exchange Bitbns has introduced margin trading for cryptocurrencies in India for the first time. Lenders can lend cryptocurrencies to borrowers and earn interest, whereas borrowers can get leverage to perform higher value trades. Currently, margin trading is available only on Ripple (XRP) and Bitbns has stated that it might introduce more crypto assets soon. The lender interest rate is kept at 0.055% and the current lending periods are 1, 3 , 7, 15 and 30 days. Currently, Bitbns is offering 1x leverage for borrowers, meaning that if you have 100 XRP, you can only borrow 100 more XRP. Margin lend and borrow orders have already started on Bitbns and right now there is no additional charge being levied on margin trading.
We recommend that only experienced traders participate in margin trading since it is a highly speculative play. Retail investors should stay away from margin trading since they risk losing all their initial capital. I am not an expert margin trader. This video is only meant to provide information and does not constitute as investment advice. Also, this video is not an endorsement for Bitbns.