The Copy Trade attribute has appeared on Binance Futures, but it is only restricted to some nations this kind of as Vietnam.
On the afternoon of September 14, 2023, Vietnam time, Binance announced the launch of a copy trade performance created by the exchange itself, solely for Futures Trading (futures contracts).
#Binance has officially launched the Copy Trading perform 🎊
On the event of this launch, Binance also opened a Learning Mission with a reward fund of 2000 USDT 💰
👉See specifics right here: https://t.co/qzqFqXgsXR pic.twitter.com/UrvPBZd3ys
— Binance Vietnam 🇻🇳 (@binance_vietnam) September 14, 2023
Users utilizing the Vietnamese language application can accessibility it by means of the “Derivatives > Copy Operations” part.
There are two varieties of copying:
- Fixed Amount: Set a fixed quantity for every single transaction.
- Fixed Ratio: Set the complete investment quantity of the portfolio and the technique will copy the trades proportionally based mostly on the quantity entered.
Source: Binance
Notably, this attribute only applies to precise nations and is not universal for international end users. It can be anticipated that Binance will launch copy trade only in nations whose legality is in the “gray zone”, not as well rigid with cryptocurrencies this kind of as Vietnam,…
Copy Trading is not a new buzzword for Binance. Previously, the exchange had partnered with Traderwagon, a third-get together platform, to supply Copy Trading characteristics to its end users. However, it is a collaborative item, restricted to only a couple of end users and not extensively applicable to all prospects.
It can be witnessed that Binance is striving to deliver a lot more goods that suit users’ tastes, in buy to increase the exchange’s relatively declining visitors and volume. 2023 will witness a complicated time period for Binance, wherever the futures industry will be quiet and the spot industry share will decline.
Therefore, Binance has constantly up to date and enhanced new characteristics to appeal to funds movement. For instance, the attribute lets you to open a number of wallet addresses on a blockchain network or constantly open launchpools and launchpads to “subsidize” BNB.
Furthermore, opening copy trading for our country’s industry is a proper stage for the reason that Vietnam is amid the best four nations with the greatest futures volume on Binance, with $twenty billion in trading volume, in accordance to May month-to-month information 2023.
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