Key Points
- Binance introduces a new mobile-only feature, “Discover,” to its futures trading product.
- “Discover” allows users to explore and interact with various trader portfolios.
Binance Launches “Discover” Feature
The world’s largest cryptocurrency exchange, Binance, has unveiled a new mobile-only feature called “Discover” for its popular futures trading product.
This innovative feature presents a user-friendly mechanism that permits crypto traders to easily explore key trader portfolios from a large collection.
Binance’s copy trading mechanism, launched in October 2023, has seen remarkable growth. The number of copy traders on Binance has increased by a staggering 78.3%, and the assets under management have surged by a notable 138% since the start of this year.
As a result, thousands of lead traders have been drawn to the Binance platform.
The “Discover” feature aims to provide a seamless social trading experience, allowing users to easily explore and interact with a wide array of portfolios.
Copy traders can follow the portfolios of lead traders on Binance, resulting in a 10% profit share and a 10% trading commission rebate for the lead traders from all copy traders who replicate their portfolios.
About the “Discover” Feature
The “Discover” feature optimizes screen space on mobile to display individual portfolios, providing comprehensive details such as lead traders’ descriptions, copy trader profits, and other additional metrics.
This streamlined presentation allows users to delve into each portfolio’s performance without feeling overwhelmed by numerous options.
Users can easily add portfolios to their favorites with a simple right swipe or explore the next available option with a left swipe.
The “Discover” feature also incorporates mock trading and copy trading functions into its interface, allowing users to interact seamlessly with the lead trader portfolios.
The Mock trading feature offers a realistic virtual learning environment for users to practice copy trading without risking real money.
Binance plans to roll out its “Discover” feature to all copy trading users in the coming week.
