Binance Introduces ‘Discover’ for Streamlined Copy Trading

Binance’s introduces “Discover” feature for mobile users, with the aim of enhancing its futures copy trading offering.

The “Discover” feature, which is available only on mobile devices, is the latest addition to Binance’s futures copy trading offering. Copy traders can easily browse lead trader portfolios from a large pool with the “Discover” feature. Swiping right to like and left to skip are the main controls. The Binance mobile app will launch next week, with “Discover” available at that time.

According to Sherrine Tan, Product Marketing Lead at Binance, “We constantly listen to our users, and as it became clear there is a demand for a more streamlined interface, we decided to look beyond our sector and take a page from non-financial products to innovate.” She went on to say, “Discover” is a fantastic addition to their copy swapping product because it gives mobile customers more freedom to explore at their own speed.

Users can engage with lead trader portfolios by integrating the Copy and Mock Trading tools into the “Discover” interface. It will provide a realistic virtual learning environment where users may practice copy trading without risking real money. Swiping to the right allows users to like items, while swiping to the left allows users to pass over them. There are two more options: “mock” for practice trading with fake money and “copy” for real money trading.

With the “Discover” feature, users can view one portfolio at a time in full-screen mode. This feature enables users to concentrate on the performance metrics of each portfolio, free from the overwhelming selection. The display also includes additional details like the self-descriptions of lead traders and the profits of copy traders. Sliding to the right allows users to quickly add portfolios to a favorites list, while swiping to the left takes them to the next available one.

The “Discover” Program Is Born Out of Binance Copy Trading’s Rapid Expansion 

Binance Copy Trade, which debuted in October 2023, has grown steadily since then. Since the start of 2024, Binance has seen a 78.3% increase in the number of copy traders and a 138.1% increase in assets under management.

The exchange now boasts over 1,000 top-performing lead trader portfolios and thousands of lead traders on its platform. Importantly, lead traders let copy traders follow their portfolios and get a cut of the profits and a rebate on trading commissions.

Binance users allegedly suggested the creation of the “Discover” feature. The goal is to provide a more streamlined social trading platform where users can easily navigate and interact with different portfolios.