BingX launches $10 million fund to foster social trading ecosystem
SINGAPORE, March 22, 2023 /PRNewswire/ — BingX, a leading cryptocurrency platform, announced the creation of a $10 million fund to develop and improve copy trading. This fund aims to develop BingX as a premier ecosystem for copy trading in the cryptocurrency industry by empowering traders and copycats, building infrastructure, product innovation, diminishing community and in partnership strategic partnerships.
Since its inception in 2018, BingX has been dedicated to becoming the gateway to the next billion cryptocurrency users. Navigating the cryptocurrency market can be daunting for newcomers, and copy trading has emerged as a solution that allows users to effectively replicate the trades of successful traders. As a pioneer in cryptocurrency copy trading, BingX is committed to building a comprehensive ecosystem where traders and copycats can learn and earn money. Original and user-friendly products such as Copy of commercial grant voucher and Trial Fund are regularly developed by the platform to help inexperienced users get started risk-free. BingX has also launched the Elite Copy Trader program to help professional traders develop their greatest potential. To date, BingX has amassed over 8,000 professional traders with around 4 million followers and completed over 130 million copy trading orders.
BingX intends to increase its contribution to all levels of traders and develop more personalized support after subdividing traders according to their specialty and performance. BingX will insist on its talent-enabled policy and can work on a comprehensive growth plan, ensuring that the platform can benefit all types of traders. The Elite Copy Traders program has been very successful and has evolved into an open program. More than 40,000 traders have made great strides and received incentive bonuses under the program over the past six months.
In the meantime, the fund will be used to improve the infrastructure of the social trading ecosystem. A more scientific trader rating system will be launched to eliminate potential risks and support various trading strategies. Based on previous experiences and performance analysis, BingX continues to dig into the underlying logic of copy trading and enriches the valuation dimension where traders’ short-term performance is de-prioritized. Advanced trading tools and functions will also be developed. BingX will improve risk control and help copiers take more initiative to interact and coordinate with traders during trading.
Additionally, BingX has managed to expand the network of its strategic partnerships around the world and operate with leading merchants and trading communities. Many renowned academies and business organizations have been added to the list of cooperations.
“We are excited to launch this social trading eco-fund and lead the development of the cryptocurrency industry. We will change the landscape and provide our users with the best trading services and the most successful traders,” said Elvisco Carrington, Director of Public Relations and Communications at BingX. “We are turning a new page. BingX’s commitment to building a premier ecosystem for social trading demonstrates our dedication to continuous innovation and our mission to make cryptocurrency accessible and user-friendly for everyone. With this fund, BingX is ready to create a game-changing platform waiting for other talented traders to join us. »
BingX is a market-leading cryptocurrency exchange platform, offering spot, derivatives, copy trading and grid trading services in over 100 countries and regions around the world with over 5 million users . BingX has connected users with expert traders and the platform in a safe and innovative way.
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