Answers to the quiz when opening a Binance Margin account
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- They have different interest rates
- Margin level = total assets value/(total borrowed value + total accrued interest value)
- The margin level has reached the liquidation level
- Hourly, at the time of borrowing
- No, you can use the “auto borrow” function on the trading page.
- The borrowing period
- The borrowing interest rate will change with the market, and the system will notify you when it changes
- Binance insurance funds will write off your debts
- Transfer BNB to cross margin account and repay manually
- Reduce your position to repay the debt or add more collateral into the margin account
- When the position is forcedly liquidated, a Liquidation Clearance Fee will be charged according to the amount of the assets being liquidated. The system may use all the remaining assets in the margin wallet to complete the liquidation.
- All of the above.
Finally, click “Prompt answers”
If all is correct, the screen switches to the Binance Margin interface.
With this article, the Binance Margin test is quickly completed. However, trading Binance Margin offers great profits but also high risks. Therefore, it is necessary to equip knowledge and skills when trading.
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