Zingeroo & WeBull are changing crypto winters with new trading models by CoinEdition

The crypto industry is transitioning from a harsh winter to a promising spring, aiming to revive its reputation. To regain credibility, a new trading model has emerged that enables users to gain valuable insights from other traders, thereby making informed buying and selling decisions.

During the crypto boom of recent years, the fear of missing out on lucrative investments has affected many individuals. Prominent figures on social media platforms, as well as celebrity endorsements in FTX ads, created the illusion that everyone was making a fortune.

However, this was not the case, as only a handful of individuals made significant profits. Many bought in during the end of the bubble and ended up losing their savings. The lack of transparency regarding the traders’ returns led to the misconception that all but one made money themselves. They failed to mention the altcoins they lost money on, causing individuals to invest without adequate knowledge.

Trading platforms such as Zingeroo and WeBull transform trading into a social and competitive activity, inviting traders to engage with friends and other users. Zingeroo even holds weekly and monthly contests, complete with leaderboards that encourage responsible decision-making among participants. These platforms allow users to observe the strategies of successful traders and avoid the mistakes of less successful ones while keeping track of their peers’ performance.

Zingeroo reports that traders participating in contests had 63% fewer meme shares, indicating that investors tend to be more cautious when they know others may be watching or when competing for a spot on the leaderboard. In addition, a recent analysis by a leading brokerage found that Zingeroo traders were more risk averse than traditional retail investors.

ZoZ Barry, founder and CEO of Zingeroo, believes that solo investing can be an intimidating and isolating experience for amateur traders. She is the only woman to launch a retail platform in the US in the past decade and raised over $42 million for her previous venture, ZappRx, which was acquired by Allscripts (NASDAQ:MDRX) in June 2019.

According to Barry, transforming investing into a competition between friends can encourage more responsible behavior among traders, leading to greater success while making investing more social and fun. Zingeroo is the first and only FINRA-regulated “competitive” crypto trading platform, and Barry believes this new interface solves many of the problems solo traders have faced over the past 18 months.

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Meanwhile, the crypto market has seen an increase in trading volume, with a 12% increase in recent weeks. Some of the most popular coins, such as Bitcoin, Solana, Cardano, Polygon and Ether, have seen an upward trend for the first time since last year’s crash.

The post Zingeroo & WeBull Changing Crypto Winters With New Trading Models appeared first on Coin Edition.

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