KuCoin Launches Social Trading Network
KuCoin, a popular cryptocurrency exchange based in Singapore, is now the first crypto trading platform to launch their new “KuCoin S Social Trading Platform” to improve user experience and support user collaboration.
The new platform is intended to be the first crypto social network platform that combines trading, education, and news feed aspects similar to platforms such as Facebook and Twitter.
Some features of the new platform include direct messaging, forums, message boards, and improved communication amongst the KuCoin community. Members will be able to discuss news events, market environments, trends, strategies, portfolio allocation, and more.
Johnny Lyu, CEO of KuCoin, commented on the current social dynamic of the space where “the every man for himself approach that is predominant on the crypto market today is leading to isolationism and loneliness among users. Neither phenomenon is beneficial for market or individual trader development.”
In comparison to crypto markets, social trading is much more popular in Forex markets where traders frequently converse about trading strategies and more. Lyu hopes that by implementing these features, “users will be able to share insights and strategies along with useful tips as part of the communication process, leading to an overall improvement in the quality of trading and the profitability of new and experienced users.