BingX has expanded operations in Germany, after opening its office in Lithuania in April, the social trading exchange offering USDC options said.
The company sees Germany as a strategic market, as the penetration and rapid growth in the adoption of digital assets has not gone unnoticed.
According to data shared by BingX, in 2021 around 2.6% of Germans have used or are using cryptocurrency and 44% of Germans are interested in investing in crypto.
Elvisco Carrington, Director of Public Relations and Communications at BingX, said, “Given the growing adoption in Germany, BingX decided to strategically expand into this market and help users make crypto trading easier through to our social trading platform. We will continue to expand into other European markets in due course.”
As BingX prepares for further expansion to neighboring markets, the newly launched German operation will add resources to support its new users, allowing them to buy, sell and trade cryptocurrencies on the BingX platform.
BingX will also be working on adding German, the country’s native language, to the platform. In the meantime, German customers can benefit from the platform’s user community spread all over the world.
With a second office now in Europe, BingX is committed to developing and building an open, inclusive, and high net worth investment marketplace in cryptocurrencies to serve investors worldwide.
BingX recently opened access to WOO Network‘s institutional liquidity solution, Wootrade, so users can benefit from deep pools of liquidity across major pairs.
The partnership will allow the Wootrade network to act as a key liquidity support for BingX traders, who can easily “log in” to the network and access a rapidly growing list of assets with a maximum daily trading volume of more than $600 million.
BingX has added access to over 300 new spot trading pairs and the number is expected to grow this quarter and next. The partnership with Woo Network is expected to expand to further develop a more satisfying shopping paradise that generates profitability and provides more value to users.
The crypto exchange has also updated its Copy Trading solution to provide more flexibility to users with the launch of a Spot Grid feature, which combines the benefits of Grid trading with those of Copy trading, using spot trading strategies. professional traders to earn money from crypto assets. volatility.
Grid trading is similar to providing liquidity on DEX AMMs, as it sets incremental buy and sell orders within a set price range. As long as the price is oscillating within the band, users can reliably profit from these fluctuations.
The strategies are created by professional traders subject to strict selection by BingX. Up to 8% of subscriber profits will be donated to the strategy creator, incentivizing them to be as effective and efficient as possible. Users have several strategies to choose from, which can be evaluated based on investment amounts, past returns, projected annualized returns, and many more.
For new crypto users, Spot Grid Copy Trading is particularly valuable because it is easy to set up. Consistent income can be incredibly valuable, especially in a stable market like early 2022.