Cryptocurrency exchange Binance announced the launch of spot copy trading.
With the new tool, users will be able to track and automatically execute the same trades as top traders. The latter, in turn, will receive a weekly 10% share of profits and a 10% discount on commission from users who repeat their strategies.
Among the benefits of the feature, Binance cites the speed and efficiency of transactions, as well as diversification and risk management.
Copy traders can view top traders' performance metrics, such as profit and loss statements, and select the ones they want to follow, setting their own risk controls.
At the moment, spot copy trading is available to experienced users whose assets meet the minimum requirements for registration as lead traders – from 500 to 250,000 USDT.
General access to the tool will be opened in May.
In January, Binance expanded copy trading functionality for futures trading in response to “strong demand” from users.
Source: Cryptocurrency
I am an experienced journalist and writer with a career in the news industry. My focus is on covering Top News stories for World Stock Market, where I provide comprehensive analysis and commentary on markets around the world. I have expertise in writing both long-form articles and shorter pieces that deliver timely, relevant updates to readers.
