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Coinbase Enables Margin Trading Up to 3x But Conditions Apply for Individual Traders

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Coinbase Enables Margin Trading Up to 3x But Conditions Apply for Individual Traders
By AnTy- February 13, 2020
Coinbase Enables Margin Trading Up to 3x But Conditions Apply for Individual Traders
Coinbase Pro customers in 23 US states can access up to 3x leverage
To be qualified for margin trading, while institutional customers need to be based in one of the 23 states, have a Coinbase Pro account, enough collateral assets, and activity measured by balances & trades
Coinbase has announced margin trading for its “eligible” Coinbase Pro customers. The San Francisco-based cryptocurrency exchange announced yesterday. From now on, Coinbase Pro customers in 23 US states can access up to 3x leverage in USD quoted books.


Coinbase Pro

@CoinbasePro
Starting today, Coinbase Pro customers in 23 US states can access up to 3x leverage on USD-quoted books. Trading crypto on margin (or leverage) can amplify the impact of your trades by allowing you to borrow additional funds. https://blog.coinbase.com/margin-trading...2743a0e07b


Margin trading is now available on Coinbase Pro
Starting today, Coinbase Pro customers in 23 US states can access up to 3x leverage on USD-quoted books.

blog.coinbase.com
887
6:56 PM - Feb 12, 2020
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355 people are talking about this
Coinbase had been one of the few exchanges that did not offer margin, though a really small amount in the line of Bitfinex and Kraken’s 5x, it’s a step in the margin trading direction. Meanwhile, leading cryptocurrency exchange Binance offers a whopping 125x leverage, outdoing BitMEX’s 100x.

Eligibility to Qualify for Margin Trading
The exchange says, margin trading is a much desired feature by their clients and now they have delivered it. Instead of depositing your own additional capital, Margin or leverage basically allows one to borrow additional funds from the platform as such amplifying the impact of the trades.

Only persons who meet the requirements for margin trading will live within one of the 23 states, have a Coinbase Pro account and are active on Coinbase Pro measured by recent balances, trades, deposit and withdrawal activity can avail of this service.


 
Additional requirements may also apply to engage in margin trading including having an account on Coinbase Pro stacked with enough cryptocurrencies to be used as collateral assets. Meanwhile, institutional customers must be based in one of the 23 states or 9 international countries to access margin trading. 23 states where margin trading is currently available in:

Alaska
Arkansas
Colorado
Connecticut
Illinois
Florida
Georgia
Kansas
Maine
Massachusetts
Nebraska
New Hampshire
New Jersey
North Carolina
Oklahoma
Oregon
South Carolina
Texas
Utah
Virginia
West Virginia
Wisconsin
Wyoming
Smart or Yikes?
While trader Scott Melker sees this as a “very smart and conservative” move and those “with a Coinbase account who doesn't know where else to trade will be using this,” not everyone was positive towards this move. Trader Jonny Moe made fun of the move by stating in a tweet,


Jonny Moe
@JonnyMoeTrades
So then I see after this that they're limiting it to $10,000 in buying power. On 3x that's barely over $3,000 in initial capital. Yikes.

Then I find out after that, it's long only. More YIKES! Gives a whole new meaning to the term, "buying power". https://twitter.com/JonnyMoeTrades/statu...9655674881

Jonny Moe
@JonnyMoeTrades
LOL

"For individuals to qualify for margin trading, they must...be active on Coinbase Pro, measured by recent trades, balances, and deposit and withdrawal activity*. We suggest keeping a balance on Coinbase Pro and trading regularly to become eligible." https://twitter.com/CoinbasePro/status/1...7570565120

16
11:20 PM - Feb 12, 2020
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See Jonny Moe's other Tweets
The exchange says over the next year, they plan to further expand this service to customers located in other regions as well.

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AnTy
AnTy
AnTy has been involved in the crypto space full-time for over a year now. Before his blockchain beginnings, he worked with the NGO, Doctor Without Borders as a fundraiser and since then exploring, reading, and creating for different industry segments.
   

 
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