Major Crypto exchange, Bitfinex, announced its own social trading network, Bitfinex Pulse. Customers can now engage themselves on discussions related to trading, collaborating on concepts, and other market-related activities.
Although Bitifinex Pulse is not the first on social trading aspect of crypto. Other players with similar products, such as eToro has trader profiles, messaging, statistics.
What is Bitfinex Pulse?
The purpose of Pulse is to provide a safe place for the verified users of Bitfinex. There, they can interact with one another, share important data, and speculate about trading and investing. Pulse is the next generation of social trading by Bitfinex.
As such, it will also allow traders to provide insight into the market, and share helpful advice. As a result, the trading community as a whole can expect to see major growth, simply through educating itself. But, more than that, Bitfinex also wants traders to simply share their thoughts and have fun.
Users will have the ability to decide whether their posts, of ‘pulses’, will be public or private. They can choose their nicknames, and then write, share, and like pulses posted by others. Public pulses will also be available for sharing on other online platforms, similarly to tweets. In fact, pulses can go on Twitter and even Facebook, according to the firm’s announcement.
A Bitfinex representative says:
“Unlike eToro, which from its very inception was a social investing network (aimed at a mainstream retail market), Bitfinex Pulse is tailored specifically to the needs of the exchange’s users. The emphasis will be on the niche, high-quality content that this more technically proficient audience requires.”
Bitfinex Pulse, the next generation of social trading, has finally arrived! Distinguish yourself, join the trading community of the future and never miss that life-changing market insight again. https://t.co/RqzrBGY6i6 pic.twitter.com/KNluzdEB7P — Bitfinex (@bitfinex) April 27, 2020
Bitfinex says that its social media product will host insightful scoops of data, exchanged amongst its members as the community expands.
To sign up with Bitfinex Pulse, a user can choose his or her nickname or use the one already connected to their Bitfinex account on the platform’s Leaderboard. Alternatively, he or she can skip the account setup and view the pulses posted by other users.
We have launched Bitfinex Pulse in response to the demand of our users for a professional content distribution platform for traders. Building on the success of the public leaderboard — which has already created crypto icons on Twitter.” Bitfinex CTO, Paolo Ardoino said
Verified participants can post openly on the platform, as well as communicate via private posts with other users. However, unverified users only have access to private posting.