KuCoin Becomes First Major Crypto Exchange to Launch Social Trading
The following post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga.
The KuCoin exchange has become the first major digital asset trading platform to launch social trading as part of its new KuCoin S Social Trading Platform to enhance user experience and expand market collaboration possibilities.
The new service being launched by the KuCoin exchange is designed to be the first social crypto network platform combining trading, educational, and news feed elements. The new functionality will be instrumental in fostering a favorable environment within the KuCoin trading ecosystem, fast-tracking user engagement, and loyalty.
The innovative social trading features to be included in the KuCoin S platform include various modules, such as direct messaging, forums, message boards, to improve cooperation and communication among the exchange’s vast community. Users will be able to discuss current market dynamics, new events, trends, popular topics, and tap into an expansive knowledge base of proven investment strategies, portfolios, and user-generated content. Additional functionality will provide access to trading bots and strategy copying.
The KuCoin exchange will also be a reliable news aggregator of feeds of insights into market movements, listings, trending assets, portfolio valuations, and much more. Apart from direct messaging and forum posts, users will also be able to comment on news, share insights and likes, and engage in conversations on topics of interest.
“The every-man-for-himself approach that is predominant on the crypto market today is leading to isolationism and loneliness among users. Neither phenomenon is beneficial for market or individual trader development. By introducing social trading, we want to give this market an air of personalization and promote collaboration and communication among users,” as stated by Johnny Lyu, CEO of KuCoin.
The open nature of the information to be shared on KuCoin S is a major element highlighting its nature as a social trading experience platform. Users will be able to share insights and strategies along with useful tips as part of the communication process, leading to an overall improvement in the quality of trading and the profitability of new and experienced users.
Social trading is a highly popular phenomenon on Forex markets, where traders routinely engage in conversations and discussions about trading strategies, assets, and portfolios. The open nature of the conversations allows users to discover new approaches to trading and even establish partnerships, further fostering a favorable trading environment. More importantly, social trading provides much-needed transparency to market happenings and gives traders insights into valuable information and trading tactics.
In a letter to Benzinga, KuCoin representatives share that the total addressable market reach of 200 countries is a solid bedrock for the establishment of KuCoin S as a go-to social trading platform in the top list of exchanges operating on the market. The estimated timeline for the launch of KuCoin S has been stated to be starting from October 20, 2021.
Image Sourced from LaunchTeam
The preceding post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga. Although the piece is not and should not be construed as editorial content, the sponsored content team works to ensure that any and all information contained within is true and accurate to the best of their knowledge and research. This content is for informational purposes only and not intended to be investing advice.
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