Binance Adds FIRO/USDT Cross Margin Pair!
Binance has added the FIRO/USDT pair to Cross Margin. This adds to the existing FIRO/USDT spot and isolated margin pairs.
What is Cross Margin?
In Cross Margin, the entire margin balance is shared across open positions to avoid liquidation. If Cross Margin is enabled, the trader risks losing their entire margin balance, along with any open positions, in the event of a liquidation. Any realized PnL (profit and loss) from another position can support a losing position that is close to being liquidated.
With the existing Isolated Margin mode, you can allocate a specific amount of margin to a single position to limit risks. In contrast, the Cross Margin mode uses the balance of your entire Margin Account on Binance as collateral, providing you with greater flexibility and lower margin requirements. Read the difference between isolated and cross margin here.
As always, trade responsibly!