What are the requirements for shorting on Binance?

1 answers

• Nov 23, 2021 · 3 years ago
  Shorting on Binance requires you to meet certain prerequisites. Firstly, you need to have a verified Binance account. This involves completing the KYC (Know Your Customer) process, which includes providing identification documents and personal information. Once your account is verified, you can proceed to the next step. Secondly, you need to have sufficient funds in your Binance account to cover the margin requirements for shorting. Binance has specific margin requirements for each trading pair, so make sure you have enough funds to meet these requirements. Lastly, it's important to have a good understanding of the risks associated with short selling and to have a well-defined trading strategy. Short selling can be a profitable strategy, but it also carries risks. Make sure you are aware of these risks and have a plan in place to mitigate them.
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