Key Points
- Binance faces regulatory challenges but continues to push forward with innovative initiatives.
- Binance introduces API functionality for Auto-Invest, allowing users to invest in various cryptocurrencies.
- Auto-Invest incorporates a dollar-cost averaging strategy for steady growth.
- Users can create Auto-Invest plans for over 210 supported cryptocurrencies and enjoy additional benefits and rewards.
In recent weeks, Binance, a popular cryptocurrency exchange, has been facing significant challenges due to a lawsuit filed by the Securities and Exchange Commission (SEC). This legal action has led to regulatory investigations in various countries, including Nigeria and France, and has put Binance under intense scrutiny. Despite these difficulties, Binance is not backing down and is continuing to push forward with its innovative initiatives.
In a recent announcement, Binance revealed the introduction of API functionality for Auto Invest, a new feature that allows users to invest in cryptocurrencies such as Bitcoin, Ethereum, Ripple, Shiba Inu, and Dogecoin.
On Tuesday, Binance, the largest cryptocurrency exchange globally, made an exciting announcement. They introduced API functionality for Auto-Invest, making it accessible to all users. This new feature empowers users to automatically invest in their preferred cryptocurrencies from a selection of over 210 supported options on Auto Invest.
Looking to automate your crypto purchases and build up your portfolio?
Try #Binance Auto-Invest!
Through Auto-Invest, you can dollar-cost average into #BTC and 212+ other cryptocurrencies 🤝
— Binance (@binance) June 21, 2023
About Auto-Invest Feature
Auto-Invest incorporates a dollar-cost averaging strategy, designed to help users steadily grow their cryptocurrency holdings. It enables users to automate their crypto investments, providing convenience and potential long-term benefits. With Auto-Invest, users can create either a “single token plan” for investing in a specific cryptocurrency or a “portfolio plan” for purchasing multiple cryptocurrencies within a single portfolio.
This feature allows users to create new Auto-Invest plans for a wide range of more than 210 cryptocurrencies. Notable cryptocurrencies supported include Bitcoin (BTC), Ethereum (ETH), Binance Coin (BNB), Ripple (XRP), Cardano (ADA), Solana (SOL), and Polygon (MATIC). Additionally, popular meme coins like PEPE, SHIB, FLOKI, and DOGE are also included.
To offer flexibility, Auto-Invest supports over 20 stablecoins and various fiat currencies as payment options. Investors can easily check the status of their investments and holdings, make edits to their Auto-Invest plans, and retrieve transaction history for their Auto-Invest activities.
End Point
Binance has also announced additional benefits to further incentivize institutional clients and industry partners. As part of their API functionality milestone, Binance is providing an opportunity for clients and partners to earn additional rewards. They can receive 50% more commissions on every transaction completed with the Auto-Invest API from a $1,000,000 Partnership Commission Sharing Pool.
Despite the regulatory challenges faced by Binance, the exchange remains resilient and continues to drive innovation in the cryptocurrency space. With the introduction of features like API functionality for Auto-Invest, Binance is empowering its users to steadily grow their crypto holdings.
