Over the weekend, Binance launched a brand new function known as ‘Trader Profiles’ to its community-focused social platform, Binance Square. This addition is designed to assist skilled crypto merchants share market insights whereas enabling customers to attach based mostly on their buying and selling patterns, as per the change. With this replace, Binance goals to foster a extra interactive and educated buying and selling neighborhood. The launch was formally introduced on February 21 via a weblog publish on Binance Square.
Recently, Coinbase CEO Brian Armstrong and Dubai’s crypto regulator VARA, have raised issues in regards to the each day inflow of recent tokens, making it difficult to confirm their legitimacy. To handle this, Binance Square launched the ‘Trader Profiles’ function, aiming to assist buyers keep away from unreliable sources and mitigate monetary dangers.
Explaining its utility, the announcement publish claimed, “Trader Profile on Binance Square adds transparency to the trading experience. By enabling this feature, traders can build credibility and connect with the community while controlling what they share (Trader Profile is fully customisable).”
Traders who arrange their Trader Profiles can share portfolio overviews and show revenue and loss percentages on their investments.
In November 2024, India’s CoinSwitch crypto change had additionally introduced the same function known as ‘GoodInvest.’ Designed to assist novice merchants navigate crypto safely, it supplies funding steerage from market specialists.
As a part of Binance Square’s new function, merchants with robust portfolios and dependable insights will earn ‘Trader Badges’ as a mark of credibility. These badges come in numerous sorts to signify varied buying and selling types, serving to new merchants establish and observe mentors suited to their pursuits.
“Badges are earned based on trading behavior. These badges offer a quick snapshot of a trader’s style, helping users connect with others who share similar interests and strategies. Your badges can change over time as your trading patterns evolve, ensuring it reflects your current strategy,” the blog noted.
The feature is now live on Binance Square, accessible from the homepage of Binance’s website and mobile app, which together serve a global user base of over 250 million.
Launched in 2022, Binance Square serves as a social networking hub for the change’s neighborhood. It permits customers to trace market efficiency, interact in discussions, take part in reward-backed competitions, and share quick audio and video clips. The platform additionally presents crypto creators alternatives to monetise their channels.
