What is crypto margin trading?

Could you elaborate on the concept of crypto margin trading for those unfamiliar with the term? In simple terms, how does it work? Does it involve borrowing funds to amplify one's trading power, similar to traditional margin trading? Are there specific risks involved in crypto margin trading that investors should be aware of? How do the mechanisms differ from traditional margin trading in the financial markets? Could you provide a brief overview of how the process of crypto margin trading unfolds from opening a position to liquidation?