Cobinhood Trading Exchange Announces Plans to Add Two New Tokens to Platform, Along with New Trading Options for Existing Tokens
Cobinhood is an exchange that charges no fees for trading, and they already offer multiple tokens for trading, withdrawal, and deposits. Now, they plan to add two new tokens – XRP and NEM, helping them to expand the reach of their services.
Along with the ability to take advantage of these tokens, they’ll also have the added benefit of margin trading and funding with Cobinhood Coin (COB), Ethereum (ETH), and Bitcoin (BTC). The original announcement was posted on Cobinhood’s Twitter account, linking to their Medium blog.
🎉 Ripple, NEM, CMT mainnet, & Margin Trading on COBINHOOD in October 🎉
Mark your calendars, big things are happening on COBINHOOD
— COBINHOOD (@COBINHOOD) October 12, 2018
These new cryptocurrency trading features will be launched on the platform on October 19th, which will make it possible for users to “maximize their crypto assets.” Since the company already offers fee-free trading, they decided to provide the same benefit for those involved with margin trading.
Right now, users have the change to leverage trade up for BTC/USDT, ETH/USDT, COB/ETH, though they also can get involved with short selling, offering 4x leverage. Margin funding is available for COB, Bitcoin, Ethereum, and USDT. Investors that are unfamiliar with the concept of margin trading can watch the video on their blog, which breaks down the process from the platform.
The point of these funders is to offer funds to investors that want to participate in margin trading. Anyone that has COB tokens in their accounts will receive a discount of 50% off margin trading loan interest.
Along with these new trading pairs, Cobinhood plans to launch XRP on their platform to trade, which will be directly paired with Bitcoin and USDT, which will also start on October 19th. Anyone on the platform can deposit, trade, and withdraw XRP on the exchange. NEM will be paired with Bitcoin and USDT.
Cobinhood recently made cryptocurrency headlines for receiving the Red Dot Award: Communication Design in 2018. They are the first crypto-related business to win this accolade, making a historical difference in the industry.