crypto margin wallet of BINANCE !!

Margin mean loan which indicate that if you able to do trade by loan from any account then it is called as margin wallet..Margin wallets are again of two types. One is a cross margin wallet and the other is an isolated margin wallet. What is Cross and Isolated Margin Wallet? You can see the post to know that.Usually the amount of different lending on different crypto exchanges. For example, Binance lends 5 times. Suppose you have $100, then if you want to trade in the margin wallet of Binance , you can trade by increasing your balance 5 times.
You can borrow up to 100 * 5 = $500. However, there is a certain amount of interest behind this borrowing. This means that if you trade with a loan in a margin wallet, you will have to pay a certain amount of interest on the contract every hour. The amount of interest you will see at the time of borrowing. This means that those who do not trade in interest should refrain from trading margins.

If you do not have the margin wallet then you can easily create up your margin wallet as there has no extra problem for create margin wallet ..

Dashboard of Margin wallet

When the margin wallet is opened, you will see a dashboard like the picture above. Where the number 1 shows how many times you can borrow from the exchange. The default calculation is 3X. So you can do 5X by clicking on 3X to do 5X.Mark 2 shows your total balance (your own balance + borrowed balance).The number 3 shows how much you have borrowed or borrowed.Mark 4 shows your own balance.The number 5 indicates how much risk your account is in after you start trading with a loan.you can bring balance from your spot wallet to margin wallet by using the option marked by number 7. You can transfer balance from similar margin wallet to spot wallet. Note that no fee is charged on this transfer.By marking 7 you can borrow up to 5 times the balance from the bank and you can repay that loan after trading. You can also do this from the trading dashboard. Details coming later.By marking the number 8 you can see which pairs you can trade directly or go to that trading page.

Spot Wallet to Margin Wallet or Margin Wallet to Spot Wallet Transfer

You will need to transfer the balance to your account later to trade the Margin Wallet opening. For this, click on the option Transfer indicated by No. 6 in the Margin Wallet Dashboard introduction. A pop-up like the picture above will appear from where you can bring balance from your spot wallet to margin wallet. In the picture above, you can see the Available Balance by marking No. 2 in my Spot Wallet. Now the amount I want to take from the balance spot wallet to the margin wallet, if you put it in the Amount cell and transfer it to Confirm, my balance will be transferred to the margin wallet immediately.

Similarly, when you want to restore the balance of your margin wallet back to the spot wallet, if you click on the arrow shown by the number 1 in the picture above, the From will be replaced by Margin Wallet and the To will be replaced by Spot Wallet. You can then transfer the balance of your margin wallet to the spot wallet.

Trading interface introduction

The search box shown by the number 1 in the trading interface above. From that box you can search for the coins you want to trade. You can also transfer the balance from here if you want. And you can borrow up to 5 times from Binance using the option you see called Borrow by marking 3.

Borrow from Binance

When you click on the Borrow option to borrow, you will see a pop-up like the picture above. Where it is shown how much interest you have to pay per hour if you borrow from them (No. 1). The maximum amount you can borrow based on your personal balance (No. 3). It is mentioned here that there is no such thing as maximum borrowing. You can borrow up to 25% or 50% of the maximum you can borrow.

Balance status after borrowing

You can see my total balance after borrowing 5 times to trade in margin trading from Binance. My balance was 0.001, after borrowing 5 times my balance is showing 0.005. If you haven't noticed my balance, you can see the screenshot given for discussing the trading interface.

Loan repayment

Margin trading basically means borrowing from an exchange based on some personal balance. Interest is to be paid depending on the loan hours. So don't forget to repay your loan as soon as you have finished trading. Because whether you trade after borrowing or not, the amount of interest on you will continue to increase as time goes on. So pay your borrowed money quickly at the end of the trade. Click on Borrow option again to repay the loan. You will see Repay written on the right side of Borrow, which is marked by number 2 in the picture above.Figure 3 above shows the details of your total balance, amount of interest, the amount you borrowed and the total amount to be paid including interest. Now you have to pay 100% and click on Confirm repayment.

This was the small introduction of Margin wallet of Binance !! If you have questio then you can ask me guys

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