From May, the world’s largest crypto exchange Binance wants to offer the opportunity to copy the strategies of successful traders in spot trading. A competition with prize money of 80,000 US dollars is being organized in advance.
Spot copy trading is a method that allows investors to benefit from the strategies of successful crypto traders. Such offers have long been standard on platforms such as eToro, and now the world’s largest crypto exchange Binance is following suit. Spot copy trading will be offered from May, according to a press release. And as Binance naturally wants to identify particularly successful traders who are willing to release their strategies for copying, a competition is currently being held with prize money totaling USD 80,000 as the stablecoin FDUSD.
The competition runs until May 8th and you can register quickly and easily via your Binance account. The first 5,000 participants will receive up to 10 FDUSD as a simple bonus, the exact rules can be found here. In the actual competition, a total of 30,000 FDUSD will be paid out to the 100 most successful participants. Active spot trading is about predicting price fluctuations as accurately as possible and timing the buying and selling of cryptocurrencies so that profits are not missed. It is also important to select cryptocurrencies whose price curves develop such dynamics that profit opportunities arise.
The Binance campaign is interesting for you for two reasons. If you are already familiar with spot trading and achieve above-average results, the Binance competition gives you the opportunity to be presented as a trader worth copying in addition to the prize money. Those who qualify for this will then be rewarded with additional monetary rewards in the future.
And secondly, spot copy trading is not a new invention by Binance, but an established method. With the roll-out to Binance customers in May, Spot Copy Trading will also be possible for you there. The option is recommended for beginners in trading Bitcoin and Co. as well as for those who do not have the time or desire to follow the ups and downs on the crypto markets constantly and preferably non-stop. This is done for you by the traders who are included in Binance’s recommendation list for spot copy trading due to their proven successful strategies.
Conclusion: Spot Copy Trading comes to Binance – exciting for investors
Binance rightly claims to be home to the highest-volume spot markets in the world, far ahead of the competition. In addition, Binance trades more different cryptocurrencies than almost anywhere else, and at very low fees. These are the best prerequisites for putting together an attractive package for spot copy trading. The current competition should be seen as a prelude; in May, all Binance customers will then have the opportunity of spot copy trading.
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