Crypto Exchange Binance Announces Copy Trading on Spot Pairs

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Starting in May 2024, millions ofBinance users who engage in spot trading will have access to an enhanced version of the platform’s popular, clear, and efficient copy trading feature. This significant improvement is anticipated to be completely implemented for all users by that time.

Binance (BNB) enables copy trading for spot pairs

Experienced users on Binance (BNB), the top crypto exchange by trading volume, can now use the newly launched copy-trading strategy tool. This innovative feature, which allows users to replicate the trades of lead traders, is currently accessible to those who meet the minimum portfolio asset size requirements. A full version is expected to be released next month.

Excited announcement from Binance: Spot Copy Trading will be available soon. Pro traders, sign up for the Binance Lead Traders Tournament to learn more. Discover more details here 👉 [Link].

— Binance (@binance) April 23, 2024

Introducing spot copy trading on Binance expands their selection of user-friendly automated strategies for spot market trading. This addition joins other popular options such as Grid Trading, Dollar-Cost Average (DCA), and the Rebalancing Bot.

The latest features on Binance’s (BNB) spot exchange are predicted to provide a substantial upgrade to the trading journey for all its users.

Using automated trading tools gives users more flexibility in managing their crypto transactions. They can set up the conditions for entering and exiting trades, monitor prices, and execute orders all in one seamless workflow.

After setting up trading strategies and specifications, automated systems are capable of swiftly analyzing large market data volumes and executing trades in mere milliseconds – a task that surpasses the capabilities of an individual user.

As the selection of automated trading instruments expands, users now have access to an increasing number of options for diversifying their portfolios and managing risks.

Lead Trading Tournament kicks off on April 24

Rohit Wad, Binance’s Chief Technology Officer, looks forward to the impact of the latest advancement on the global Binance community’s user experience.

At Binance, we value the insights of our users and consistently incorporate their suggestions into our offerings. Our users, being the experts in their own experiences, frequently provide us with excellent ideas. One such idea that emerged from community feedback is Copy Trading for Spot markets. This feature enables our users to effortlessly replicate the trading activities of other successful traders, thereby exploring new trading strategies.

On Binance, users have the ability to function as both principal traders and followers. Each user is allowed to maintain one primary trader account and mimic up to ten primary trader portfolios. In return, primary traders receive a 10% profit share and a 10% discount on trading commissions from those who mirror their transactions.

Beginning shortly, users can access the Binance app’s new features in a phased rollout. Meanwhile, Binance extends an invitation to top traders to prepare their investment portfolios and join the Lead Trading Competition taking place from April 24 to May 8, 2024.

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2024-04-23 19:07