Many traders prefer autotrading, which involves purchasing at particular levels and selling at higher levels. However, autotrading is usually not available on cryptocurrency exchanges, and it necessitates the use of third parties and bots.
Binance appears to want to provide some new capabilities in this area on its platform and make them available to consumers.
Binance announced the launch of "Grid Trading," a strategy tool that automates the buying and selling of cryptocurrencies at pre-determined intervals across a pre-determined price range to establish strategically designed trading networks, today, Thursday.
When this instrument is programmed to a specific time period and price range, it allows you to buy currency at a cheaper price and sell it at a higher price.
The new service launched by Binance is already available on the company's website, and it includes the following features, according to the Binance blog.
Maintain market awareness and the ability to trade 24 hours a day, seven days a week.
To optimize profits, buy low and sell high on autopilot.
Avoiding poor purchasing and selling decisions by following a well-thought-out strategy and plan.