Binance, one of the applications with the most users in the crypto world, continues to bring quite new applications for its users. Binance’s last major update is Binance Auto Invest, which expands the range of users.
What is Binance Auto Invest?
Binance Auto Invest allows users on Binance to earn passive income with very little risk. The system was first tested on November 23, 2012. It is also possible to trade with the dollar cost (DCA) on Binance Auto Invest.
Advantages and Disadvantages of Binance Auto Invest
The system is based on the purchase of a certain amount of cryptocurrencies at pre-prepared and pre-defined intervals. Thus, automated trading and trading operations reduce the risk of loss for users. Accordingly, auto-invest has advantages and disadvantages for users.
Advantages
The great benefits that the system offers to its users are as follows:
- It reduces losses with risk management strategies.
- Timing is very significant in the crypto market. The timing process is automated with pre-prepared moves.
- Passive earnings continue with automatically purchased tokens.
- Easy to prepare and implement.
Of course, each system has its own advantages as well as disadvantages.
Disadvantages
The system also has disadvantages compared to the power it contains. The disadvantages of the system are as follows:
- For investments to be profitable, it is necessary to invest for the long term.
- Due to automated and pre-ordered transactions, it is possible to buy a token that has fallen sharply.
- Although the system works automatically, it requires close monitoring.
Nevertheless, when the advantages and disadvantages are compared, it is possible to say that the advantages outweigh the disadvantages.
Auto Invest’s Investment Strategy
Considering the advantages and disadvantages of the Binance Auto Invest system, it seems that long-term earnings are possible with a good strategy. The system is basically not suitable for short-term plans.
For this purpose, users are advised to use their idle capital, which they can consider “non-existent” themselves. Idle capital can also be defined as the amount of money that is easy to dispose of and does not affect the course of life.
The most significant strategy after investing in the system is to determine the timing. Users should decide their investment process and prepare their long-term investments in this system according to the time frame they have planned. In addition, users who will use the Binance Auto Invest system for the first time are advised to invest in BTC or ETH-backed tokens. Finally, users who have investments in the system are advised to closely follow Binance Auto Invest announcements and updates.
What is Binance Auto Trading 2.0?
Today, every application or system needs to undergo various maintenance in order to survive and provide better service to its users day by day. One of these maintenances is updates. Binance Auto Invest 2.0 is the latest version of the auto-invest system.
With the new update, one of the services offered by Binance to auto-invest traders is the reduction of the minimum investment amount. Thus, investors will be able to realize their auto-invest investments with a smaller amount.
In addition, as in many other Binance applications, an education section has been added to Binance Auto Invest. The tutorials created through frequently asked questions make it easier for users to get used to the system.
With the Auto Invest 2.0 update, Binance streamlined the trading tab and accelerated traders’ access to their portfolio values. Moreover, it made it possible to invest in more than one crypto with Auto Invest.
Coins Included in the System
Binance prioritizes BTC, BNB, and ETH coins first in its newly created applications and systems. This is because these coins appeal to many more people and have a higher user capacity than other coins. The other coins included in the system after BTC, BNB, and ETH are listed as follows:
- APE
- ONE
- SOL
- MBOX
- ILV
- MATIC
- LUNA
- ADA
- DOT
- XRP
- AXS
- LINK
- AVAX
- NEAR
- FTM
- MANA
- ALGO
- UNI
- LTC
- FTT
- CAKE
- TRX
- SUSHI
As the amount of coins in the Binance Auto Invest system increases, the number of investors also increases. Binance also tries to include coins with a clean investment and investor history in this system.
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