Alphr Finance is a decentralized finance platform that is offering innovations for traders that want to stay ahead of their competitors. It is bringing in social and copy trading in the crypto space, something that has only existed in centralized finance. With this feature, traders can copy the positions and trading activities of highly performing traders, thereby offering them the opportunity to break even or making profits.
As a decentralized automated trading platform, users can automatically copy the trades that are being done by profitable wallets in the space. Social trading may be new in the crypto space, but it has been around for a long time in other instrument trading ecosystems. It is also called copy trading, and it involves a user copying the trades of another user. The latter is usually a high-performing individual that has mastered the art of trading. Usually, people tend to copy the trades of others that are advanced than them.
Alphr Introduces Automated Mirror Trading Feature
In the crypto space, Alphr Finance is one of the first decentralized finance protocols that is ushering in a variation of copy trading, the automated mirror trading. With this feature, crypto traders can automatically mirror the trades of high performing traders.
The automated mirror trading is made possible because of the scraping work that the Alphr Finance protocol does.
It started with UniSwap, the Alphr’s algorithm scrapes the entire decentralized exchange from top to bottom, analyzing the trades and transactions that have been carried out by different wallets. Every wallet is given a social profile, and the algorithm searches for those that have exceeded expectations. Usually, it looks for wallets that have been able to turn a minute holding into a goldmine. From the data gathered, it ranks the wallets based on their trade performance and tables this to users.
Those that use Alphr Finance can choose the trader that they want to copy. Once they do this, automated mirror trading comes into play. A user doesn’t have to manually monitor the trades of the wallet that they want to copy or mirror. If this were done, it would be highly inefficient.
To inject efficiency into the process, automated mirror trading was birthed, which allows users to automatically copy the trades of their chosen traders. Their wallets mirror the wallets of high-performing traders.
Benefits of Using This Feature
Numerous perks accrue to those that utilize this feature. For starters, they carry out trades without necessarily getting involved. All they need to do is choose the trader that they want to mirror, and the process begins. It is that simple.
Secondly, with Alphr Finance, users can get trading insights from top performers. This is a seamless way of finding out how high-performing traders trade. Not only do you find out, but your trades are also tailored to match theirs. It is a seamless process.
These are two of the numerous benefits that accrue to those that utilize the automated mirror trading feature that Alphr Finance offers.
