Saturday, January 28, 2023

Binance Announces Launch Of Fixed Investment Program

World’s largest crypto exchange in terms of daily trading volume Binance, on Spetember 06, introduced a fixed investment function on its platform. This new feature will help retail traders facilitating a systematic crypto investment by allowing them to purchase a fixed amount of crypto within a given period of time.

As per the report, Binance has allowed its users to place a pre-order for cryptocurrency using VISA and MasterCard. 

The crypto exchange has further stated that for now, the fixed investment function is only supported by a VISA and MasterCard.

The world’s largest crypto exchange has informed that Binance will offer the Automatic purchase service along with the fixed investment function. That means if an investor will pre-order a cryptocurrency for a certain fixed amount, then that amount would be deducted from his/her VISA/MasterCard “every day, every week, every two weeks or every month.” This whole process would be known as a Recurring Buy.

Recurring Bu is a dollar-cost averaging (DCA) investment strategy, which facilitates the buying process of a cryptocurrency chosen by the investor. 

It is also considered as an automatic feature which has been introduced to eliminate the manual investment on part of users. 

Notably, the newly-launched feature may be convenient for the users but it does not guarantee the opportunity to acquire extraordinary returns. 

For a quite long time, Binance has been struggling with the regulatory crackdown around the world. It suffered the wrath of regulators, which forced the crypto trading platform to take steps towards compliance.  

A few days ago, the crypto exchange also announced to halt the withdrawal of Singapore Dollars from its platform, amid the local regulatory crackdown. 

Binance, in its announcement, has mentioned that from September 10, it would not facilitate the transactions through SGD payment options. 

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