Cryptocurrency trade Binance at this time introduced the launch of its spot copy buying and selling characteristic.
The brand new choice permits customers to repeat the buying and selling methods of skilled merchants instantly. Moreover, Binance defined the distinction between copy buying and selling within the spot and futures markets.
“Spot buying and selling entails shopping for or promoting crypto at present market costs. Futures buying and selling, in the meantime, usually makes use of leverage. This may considerably improve potential good points, but additionally danger, particularly given market volatility.”
Binance announcement
Alternate purchasers will have the ability to copy the transactions of 10 merchants concurrently. The message additionally says that customers will obtain 10% of their copy merchants’ earnings and a ten% low cost on buying and selling commissions.
Skilled merchants’ portfolios ought to vary from $500 to $250,000, with a most of 200 copy merchants.
Following information of the characteristic launch, the cryptocurrency trade’s native token, BNB, reacted with development. In accordance with CoinMarketCap knowledge, the coin has risen in worth by greater than 2% within the final 24 hours to $580. Nevertheless, buying and selling volumes remained just about unchanged regardless of the announcement of the brand new characteristic, growing by simply 1%.
Final October, Binance introduced copy buying and selling on the Binance Futures platform. The brand new choice allowed customers to watch the buying and selling portfolios of skilled merchants, view efficiency indicators, and make choices primarily based on this data.
Binance Futures merchants obtained a number of advantages, together with 10% of copy merchants’ earnings and a ten% low cost on buying and selling charges. Certified market contributors may also create content material on the Binance Feed platform and share buying and selling methods.