Working as a world-class cryptocurrency exchange, Bibox has announced the unveiling of its highly anticipated project, the Cross-Margin model, in margin trading to enhance the operational experience of its customers. The reputed platform will allow the users to make a choice between the cross-margin model or the earlier fixed margin model available on Bibox Web or App.
Bibox has launched Cross-Margin Model in margin trading on Bibox Web. 👏👏
Users can choose to operate the cross-margin model or fixed margin model on Bibox Web or App.🥳🥳
— Bibox (@Bibox365) February 22, 2020
Cross Margin refers to a margin pedagogy that puts to use the entire amount of funds present in the Available Balance, which in turn helps to keep the issues related to liquidations. Any Realized PNL derived from other positions provides help in giving a margin on a losing position. The margin technique works as an effective mechanism for the users who are involved in hedging existing positions and for arbitragers who do not prefer to be counted on one side of the trade during liquidation. In this method, there is no liquidation price, but a risk rate as multiple tokens can be taken for the margin purpose. Cross margin offers 5x leverage to its customers. The interest on the borrowed capital is calculated on an hourly basis and the borrowed funds limit is also fixed. The borrowed capital can maximum be four times the capital volume.
The Cross-Margin Model lends support to 7 top-rated cryptocurrencies and offers the customers with access to 15 leading trading pairs. The cryptocurrencies involved are BTC, ETH, EOS, ETC, BCH, LTC, USDT. The trading pairs offered include: BTC/USDT, BCH/USDT, BCH/BTC, BCH/ETH, ETH/USDT, ETH/BTC, EOS/USDT, EOS/BTC, EOS/ETH, ETC/USDT, ETC/BTC, ETC/ETH, LTC/USDT, LTC/BTC, LTC/ETH.
On February 17, 2020, Bibox announced the news about the launch of the FOMO Trading Battle, which gave the participants a golden chance to win lucrative rewards. The competition started on February 18, 2020, at 3:00 PM (GMT+8). The highest solo reward for the event was 40 BTC. Also, the exchange launched a Valentine Airdrop to attract more and more customers. The event had a reward pool of 712 BIX giveaway. The first 2000 users joining the platform were eligible to get the rewards.