Cryptocurrencies have experienced a major crypto winter since the beginning of 2022. As CoinMarketCap data recorded the worst 12-month performance in Bitcoin's 6-year history, investors turned to crypto futures to mitigate risks during the bear market. A newly announced app makes futures trading accessible to startups and individual investors alike.
Cryptocurrencies ended the first half of 2022 with losses due to the decline in investor confidence caused by global economic developments and rising inflation. Even Bitcoin, the first example of cryptocurrencies, lost more than 60% in the first half of the year, showing its worst 12-month performance in its 6-year history, according to CoinMarketCap data. Individual investors have turned to crypto futures trading to hedge risks in adverse market conditions. Crypto futures saw record activity during the bear market, according to data from the world's largest financial derivatives exchange CME. Although futures trading, which allows to contain negative price trends and provides additional savings from fluctuations in asset prices, has gained popularity, newbies have been hesitant to trade as it is seen as more complex than the spot market and reduces the possibility of gain. Global cryptocurrency exchange CoinW, which wants to bring a solution to this problem, announced its new feature called “smart copytrading”.
Sonia Shaw, Business Director of CoinW, who shared the developments on the subject, said, “Smart copytrading basically allows beginners to follow and copy the trades of crypto gurus in the market. Beginners can track details such as copytrading savings rate, total profit, number of orders followed, and token units traded. This model, which we have developed as CoinW, creates a bridge between professional investors in the futures market and those at the beginning of the road.”
“An industry-wide innovation”
The smart trade copying system, which CoinW launched on August 18, has quickly become one of the strongest features of the platform, allowing professional traders in the futures trading market to transfer their experience to beginners. Pointing out that the smart copytrading feature of CoinW offers more performance in continuous futures, a stronger risk control system and more token trading when compared to competing exchanges, Sonia Shaw said, “As CoinW, our top priority is to lead the industry with the innovative approach and user experience in our products. Intelligent copytrading for futures is an industry-wide innovation. As CoinW, we have become the world's first platform in this field by applying 0 commission in Bitcoin transactions, and we have achieved another first in the sector. Our platform, which has experienced two bull and bear market changes since 2017, manages to maintain its liquidity with its investor-oriented approach. We also offer a $500 loss subsidy guarantee for a short period of time so that the copytrading feature can reach more investors.”
Officially entered the Turkish market
CoinW, which has been operating uninterruptedly for 120 years and preferred by crypto money investors from 5 countries and regions around the world, has added a new one in Turkey to its localized regional offices in 13 countries including Vietnam, India and Russia. Reminding that they hold financial licenses in countries and regions such as Canada, Lithuania, USA, Singapore, Abu Dhabi and are considered among the liable institutions, Sonia Shaw concluded her evaluations with the following statements: “Turkey is a bridge connecting Asia and Europe. We are very happy to bring our products and services to the crypto community in Turkey. By constantly monitoring the global market, we will continue to develop products and services that set standards in the industry such as “smart copytrading”, and to introduce the concept of inclusive finance to the whole world with the power of the crypto community in Turkey.”