BingX, the most popular social cryptocurrency exchange, has set a record by becoming the first cryptocurrency exchange to integrate copy trade subsidy vouchers. These are intended to reimburse consumers for any losses they may sustain. Less competent traders can use copy trading to automatically replicate positions created and maintained by more active investors.
According to their report, BingX will cover any losses in the copy transaction as long as the user enables the copy trading subsidy vouchers (within the denomination of the card and coupon). This voucher acts as a safety net, allowing users to join and exit positions with popular currencies like BTC, ETH, MATIC, LUNC, OP, STG, PSG, ADA, SHIB, DOGE, CHZ, and IDO without the worry of losing money.
Users can trade above their ability level, while more experienced traders have the potential to earn additional profit by assisting copy traders. BingX, the market’s most effective social trading exchange, offers an extensive environment for traders and copiers to congregate, communicate, and generate income.
BingX is a social cryptocurrency exchange that was founded in 2018. It presently serves over 3 million users in over 100 countries and offers spot, futures, and margin trading services. BingX offers its members a secure, user-friendly, and open line of contact with the platform’s professional crypto traders.
BingX is continually evolving, and it recently published a new version of its iOS and Android mobile trading program. The most recent version features a new Standard Futures functionality that allows you to see a trader’s current position.
How Does Copy Trading Work?
Copy trading depends on social networks and social trading platforms to function. When one trader creates a position, they may transmit this information to other traders on the network, whom can then select if they wish to open the same position – or their algorithmic trading systems can execute so without the trader’s participation.
The primary trader who broadcasts their positions often has knowledge of the underlying market, however, the copy traders may lack experience in this specific market or be completely new to the financial markets as a whole.
“Copy trading is our unique product offering, and we are continually working to improve novices’ trading experience,” stated Elvisco Carrington, PR and Communications Director at BingX. “With the introduction of copy trade subsidy vouchers, new users may readily experiment with trading techniques without risk. BingX can retain its reputation of innovation by developing new solutions that directly assist traders.”
Deep Into BingX
One of the primary reasons BingX is getting all the attention is the slew of extra-important features it offers. It essentially offers everlasting contract trading as well as a variety of isolated and cross-margin options. Derivative options on the platform include digital assets as well as other financial products such as FOREX, global indexes, and commodities. Speculative investors and traders can access all of these instruments.
However, with the surging availability of digital trading platforms, selecting the best cryptocurrency exchange might be a challenging feat. There are several exchangers accessible on the market. Beginners can become acquainted with the charting interface, platform features, trading pairings, security, customer support, and fees that influence exchange quality through a variety of aspects.
BingX is giving back to the community after obtaining regulatory licenses in Canada, the United States, Lithuania, and Australia, as well as receiving the highest grade for asset and trade security from CertiK. BingX additionally updates new coin values on top of current popular coins such as Bitcoin and Ethereum prices on a regular basis.
It is to be seen how the new copy trade subsidy coupon will work for newbies and intermediate investors in the cryptocurrency exchange.