Binance, the world’s largest centralized cryptocurrency exchange, has announced the launch of a trading simulator for beginner investors. The tool has been named Mock Spot Copy Trading and is available to all its customers on the website.

The new feature will allow customers to simulate trades using virtual funds.

Crypto Financial Education

In a press release, Binance explained that customers will be able to use virtual funds to simulate trading. This will allow them to follow the strategies of well-known traders and create simulated portfolios to analyze their future behavior.

The exchange believes that Binance’s feature will serve as a form of “education that allows one to learn through trial and error until they gain the confidence and experience to engage in real investing.”

Read more: Bitcoin Price Prediction 2024/2025/2030

Additionally, experienced investors will be able to refine their strategies and test new ideas before committing their funds.

“As a learning space, enthusiasts in the field will have the freedom to explore the sector with real market swings without the daily financial pressure,” Binance added.

To use Mock Spot Copy Trading, a client must log into their Binance account and access the feature page. They can then review a list of traders by performance, strategy, and history to choose up to ten of them to copy their trades.

Finally, it is possible to allocate virtual resources to create a portfolio simulation. It is also possible to monitor the portfolio's performance in real time, make adjustments and switch traders.

Binance recommends that investors carefully choose which traders they want to follow. The exchange advises choosing those with a more consistent track record and aligned with the client's objective.

Other tips from Binance include diversifying your portfolio with different traders to benefit from different styles. Finally, it’s important to study and learn from your mistakes to refine your own strategy in the future.

The article Binance launches trading simulator for Brazilian beginners was first seen on BeInCrypto Brazil.