A Guide to Mercor Finance: All You Need to Know About This Crypto Copy Trading Platform

Since the emergence of cryptocurrencies more than a decade ago, several innovations have been launched, including Mercor Finance. But what is Mercor Finance? It is a decentralized copy trading platform that allows users to create automated strategies for others to replicate.

If you want to learn more about Mercor Finance and how to get started, reading this guide is recommended.

Defining Automated Trading

Also known as algorithmic trading, automated trading involves creating a set of rules that dictates when to open buy or sell orders. This type of trading has more benefits than trading manually. For example, traders using automated strategies do not have to stare at the price charts 24/7. Also, since no human emotions are involved, traders are able to increase their profitability.

Mercor Finance Copy Trading Dapp

Mercor Finance lets users create automated trading strategies on its decentralized app (Dapp). Creators of those strategies then allow investors to copy them in exchange for a small fee.

As of this writing, Mercor Finance users have developed over 100 automated strategies for copy trading.

It is worth mentioning that you need to hold Merco Finance’s native token MRCR if you want to copy unlimited trading strategies on the platform. Owning this token also allows you to earn a yearly yield of up to 25%.

MRCR runs on the Binance Smart Chain. You can purchase it using BNB or BUSD on the PancakeSwap decentralized exchange.

How to Get Started

To start copying automated trading strategies on Mercor Finance, visit the platform (Mercor.finance) and click the “Launch App” button. Connect your crypto wallet to buy MRCR. We recommend using MetaMask or Trust Wallet.

After buying MRCR tokens, you will get access to the available trading strategies. Mercor Finance displays informative data about the strategies to help investors choose one that matches their varying needs. The data includes the win rate of the trading strategy, trade history, the creator of the strategy, and the number of investors copying it.

Furthermore, you can view how much each investor has generated from using a particular automated strategy.

If you have problems navigating the Mercor Finance platform, you can visit the educational portal to access user manuals.

After understanding how to copy automated trading strategies and selecting a suitable one, click “Invest” and allocate the required BNB.

How Developers Create Automated Trading Strategies on Mercor Finance

Mercor Finance provides several tools for developers to create automated trading strategies, which are deployed on the Binance Smart Chain as smart contracts.

Each strategy should have the following details: the crypto pairs to be traded, the name of the strategy, and how it works. Once a strategy has been deployed on the blockchain, a secret API key is given to the creator. This API key allows the strategy to communicate with the API of Mercor Finance. The developer is able to monitor the performance of their strategy and make adjustments where necessary from the platform’s developer dashboard.

After testing their automated strategies, the developers then allow Mercor Finance users to copy them. As mentioned earlier, the creators of the strategies receive commissions from investors.

Several prominent developers continue to create automated trading strategies on Mercor Finance. Some of them include Darkpol, BlockBank, and Ramp.

What Makes Mercor Finance Unique?

Mercor Finance has numerous unique features that separate it from the crowd. For example, the decentralized app has a chartroom that allows investors and developers to communicate. Also, most trading strategies achieve a return on investment of over 50% within one month.

Conclusion

The team behind Mercor Finance says it’s committed to adding more useful features over the coming months to boost user experience. It recently announced that developers will soon be able to create automated strategies that can work in the traditional markets.

Finally, Mercor Finance’s team has promised to increase the utility of MRCR and expand its presence to top centralized exchanges.