Binance Rolls Out Private Portfolios For Spot Copy Trading
In Brief
Binance has introduced private portfolios for spot copy trading, allowing lead traders to create and share them with selected copy traders.
Cryptocurrency exchange Binance has introduced a new feature called Private Portfolios for spot copy trading, now available on both the Binance website and mobile application. This feature enables lead traders in eligible regions to create private portfolios and share them with selected copy traders using a unique link and code. With this update, Lead traders gain more control over who can access their copy trading portfolios.
Copy traders can select the lead traders they wish to copy, allowing them to learn different trading strategies and benefit from the expertise of experienced traders. There are two types of copy trading modes available: Fixed Amount and Fixed Ratio. These options give users flexibility in how their trades are executed.
Before choosing a lead trader to copy, copy traders can review key performance metrics such as Return on Investment (ROI) and Profit and Loss (PnL) to help them select strategies that align with their risk tolerance. Lead traders, on the other hand, can earn profits from their copy traders, receive commissions from their copy traders’ trading fees, and gain access to exclusive benefits.
How To Open Private Portfolio And Start Copy Trading
In order to open a private portfolio with spot copy trading, users should log in to their Binance account, click on “Trade” and then “Copy Trading.” From there, they should choose “Spot Copy Trading,” select “Lead,” and then “Spot – Private.” Users can enter the amount they wish to commit to the portfolio and set the profit sharing percentage, then click “Confirm.” Afterward, they can select “Create” and set a maximum number of participants for the private portfolio. A unique invitation link and code will be generated to allow others to join.
In order to begin copy trading, users should log in to their Binance account, click on “Trade” and “Copy Trading,” then choose “Spot Copy Trading.” After selecting a preferred portfolio, they can click the “Copy” button to start.
Binance is a prominent global blockchain platform, known for operating the world’s largest cryptocurrency exchange by both trading volume and the number of registered users. The platform serves over 250 million users across more than 100 countries, and is recognized for its security features, transparency, efficient trading engine, investor protections, and extensive range of digital asset offerings. Binance provides a wide array of services including trading, finance, education, research, social impact initiatives, payments, institutional solutions, and Web3 capabilities.
Recently, Binance has introduced zero-fee trading on all trading pairs within the Binance Wallet, a promotion that will remain active until September 17th.
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About The Author
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
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Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
