CDS Crypto News Woo X Redefines Copy Trading with a Fairer Approach for Crypto Investors
Crypto News

Woo X Redefines Copy Trading with a Fairer Approach for Crypto Investors

102
Woo X Redefines Copy Trading with a Fairer Approach for Crypto Investors

Woo X Redefines Copy Trading, Aiming for Greater Equity in the Market

Woo X Redefines Copy Trading, Aiming for Greater Equity in the Market

As a means of simulating the experience of seasoned traders by imitating their market activity, Woo X cryptocurrency exchange said on Monday that it has launched what it claims to be an improved and more equitable version of copy trading. In both cryptocurrency and conventional finance, copy trading—or “social trading,” as Woo X refers to it—is nothing new. Several major cryptocurrency exchanges, including Binance and OKX, as well as the fintech platform eToro, popularized the practice of making available to their consumers the returns generated by the most successful traders.

Woo X Copy Trading Overhaul: Higher Profit Thresholds and Balanced Incentives

Willy Chuang, COO of Woo X, stated that the current model needed to be adjusted so that lead traders would not only benefit from exchange fees and other unbalanced incentives. Finding a means to lessen the constant strain on lead traders to consistently outperform led Woo X to include the flexibility of a countertrade option as another innovation.

We conducted extensive research and identified clear pain points for users. Many of the reported returns are misleading or unsustainable, and in some cases, users were being shilled by lead traders. We’ve introduced a higher profit threshold that protects users, ensuring that profits are only shared with lead traders when the portfolios are genuinely profitable.

Chuang

For more up-to-date crypto news, you can follow Crypto Data Space.

Woo X Redefines Copy Trading with a Fairer Approach for Crypto Investors
Written by
lectertodd

Lectertodd is 27 years old. She graduated from Çankaya University, Department of Psychology, in 2021. She actively works as a writer, translator, and editor for various websites. Moreover, she loves reading, researching, and learning new things.

Leave a comment

Leave a Reply

Related Articles

USDG Stablecoin: Paxos Teams Up with Robinhood, Kraken, and Galaxy Digital

Paxos has launched the USDG stablecoin, backed by major financial firms like...

Ethereum White Paper Anniversary: From Concept to Global Smart Contract Platform

Ethereum White Paper Anniversary: From Concept to Global Smart Contract Platform

Bitcoin Liquidations Spike: Over $150M in Longs Wiped Out as Price Slides

Bitcoin Liquidations Spike: Over $150M in Longs Wiped Out as Price Slides

Memecoins Explained: The Intersection of Internet Culture and Crypto

Binance Research's report analyzes the rise of memecoins, highlighting their cultural impact,...