TraderWagon launched a year ago in December 2021, as a newcomer to the crypto and copy trading community. The idea of copy or social trading is fairly straightforward – experienced investors become Lead Traders on social trading platforms and gain followers known as Copy Traders, who then select Lead Traders to copy their trades from. Lead Traders receive a small commission when their followers copy their portfolios, incentivizing the exchange of ideas and trading strategies within the community.
As a new challenger to established names, TraderWagon focused its resources on building a secure and stable platform, integrating Single-Sign-On API with Binance Futures, the largest crypto derivatives exchange. TraderWagon also invested time in engaging users, and has since created over 50 community activities and programs. As a result, there are now over 500 Lead Trader portfolios available, monthly active users grew 63.6% on average, and month-on-month trading volume increased 74.2% despite recent challenges in the crypto market.
Building a Passionate Crypto Community Through Product Improvements
Through constant community messages and surveys, and ensuring swift responses to customer queries, TraderWagon has cultivated a loyal following that in turn provides feedback and suggestions that the team uses to improve their product and programs.
For instance, crypto traders often ask for more choices and TraderWagon integrated with Binance Futures to offer over 140 trading pairs, one of the widest selections in the market. It has continued to finetune its product features, and recently introduced Copy Trading Dual Mode, allowing copy traders to choose between a fixed ratio or fixed amount copy trading.
In response to Lead Traders’ desire for more control, TraderWagon also introduced Private and Public Portfolio modes, allowing traders to select how much of their portfolio is made available for copying and approving new followers.
Perhaps TraderWagon’s most understated feature is also its strongest in terms of security. With Binance’s Single Sign-On API, TraderWagon allows traders to use their Binance account log-in to conveniently and securely create their TraderWagon account and manage their copy trading portfolio. Funds remain securely kept on Binance and profits are credited directly into traders’ Binance accounts. This means there are no transfer fees or risk of misplacing funds due to manual error.
What’s Upcoming in Year Two for TraderWagon Users
Today there are more than 150,000 users of TraderWagon. TraderWagon supports 7 active social community channels, with over 30,000 active members in them. The platform’s performance has been growing and recorded monthly volumes in excess of $1 billion for several months this year.
Over the past year, TraderWagon has made significant progress to achieve almost all the milestones it had earmarked in its previous year’s roadmap. In its 2023 roadmap, TraderWagon will be introducing more product enhancements and intends to invest more resources in its community engagement efforts. The hope is that a healthy social trading market can be an invaluable pillar for the wider crypto ecosystem in the long term.
Meanwhile, interested traders can check out some of the activities including the ongoing Community BUIDLers II-Content program, the Binance Football Fever 2022 TraderWagon Additional Sponsorship, and TraderWagon’s December trading competition.
