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How to Use Margin Cooling-Off Period

Binance
2021-08-18 06:19

What is the Cooling-off Period?

As part of our ongoing efforts to encourage responsible trading, Binance has launched the Cooling-off Period for margin trading. The Cooling-off Period allows users to temporarily suspend all margin trading activity for a specified period. Users can set a Cooling-off Period of 1 day, 3 days, or 1 week as per their needs. During the Cooling-off Period, margin accounts cannot be used to borrow any cryptocurrencies.

When to use the Cooling-off Period?

  • You can use the feature to limit and control your trading activities, especially in situations when you feel pressured by losses;
  • It enables traders to abstain from behavior and activities that can lead to irresponsible trades.

Frequently Asked Questions

1. Can I trade on the spot market during the Cooling-off Period?
A: Yes. The Cooling-off Period only applies to margin trading, including isolated or cross margin trading, and the borrowing of cryptocurrencies. However, activities such as inter-wallet transfers, repaying of loans will not be affected.
2. Can I choose the duration of the Cooling-off Period function?
A: Yes. You can select from 1 day, 3 days, to 1 week. Please note that if you select the 1-day option, the Cooling-off Period will begin from the activation time to 23:59:59 (local time) of the current day. Likewise, if you choose a Cooling-off Period of 3 days, the Cooling-off Period will start from the activation time to 23:59:59 (local time) on D+3.
3. Can I terminate the Cooling-off Period early?
A: No. Once the Cooling-off Period is enabled, it cannot be lifted and will only be terminated after the preset cut-off time. All trading features and confirmation buttons will be disabled. Please wait until the Cooling-off Period ends.

How to enable the Cooling-off Period for margin borrowing on Binance Website?

1. Login to your Binance account. Click [Wallet] - [Margin]. Next, click [More Data] - [Borrowing Cooling-off Period].
Alternatively, you may click [Trade] - [Margin] to enter the Margin Trading page. Click the [] icon on the order entry pane and select [Borrowing Cooling-off Period].

2. Select your preferred duration and click [Confirm]. You can choose “Today(1 day)”, “3 Days” or “1 Week”.
3. Please note, the borrowing function cannot be turned on during the Cooling-off Period. Click [Confirm] to disable your margin borrowing.
1. Log in to the Binance app and tap [Trade] - [Margin]. Next, Tap the [Cooling-off Period] icon.
2. Select your preferred duration and tap [Confirm].

3. Please note, the borrowing function cannot be turned on during the Cooling-off Period. Click [Confirm] to disable your margin borrowing.
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