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BTC-e Empowers Veteran Investors with Advanced PAMM Trading Account

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BTC-e, the popular and highly secretive Europe-based digital currency exchange, has launched a new service to add percent allocation management module (PAMM) accounts to its platform, a move that effectively allows site traders to become money managers for other users.BTC-e stated that the launch of PAMM accounts adds a “proven and effective” money management tool to the website, one used in traditional currency exchange markets.PAMM account providers will be able to open account pages, which are then ranked based on performance and stability. Subscribers then search BTC-e for account providers that meet their risk and capital requirements before finally investing in a performance strategy. Profits are divided between the account provider and subscribers.The exchange went on to suggest that it expects the offering to appeal to the wide range of traders who currently use the site to trade bitcoin, litecoin and host of additional altcoins, stating:“Whether you are a professional trader, or a beginner, PAMM technology opens up new opportunities for you to make profit from bitcoin trading.”The launch of the PAMM service, together with its multi-currency trading accounts on 2nd June, follows a period of relative quiet for the exchange, which faced criticism in the wake of the collapse of Japan-based bitcoin exchange Mt. Gox for its lack of customer transparency and simplistic site design.PAMM providersThe exchange noted that providers will gain a number of benefits from using the new PAMM accounts.For example, BTC-e says providers can create multiple offers and conditions to interact with different pools of subscribers, thereby attracting investors with different risk attitudes and investment capabilities. Subscribers also receive automatic distribution of profits, a feature BTC-e says will allow providers to focus on generating successful strategies.Providers are further protected against any infringement on their trading strategies. BTC-e says followers cannot “duplicate [a] trading strategy beyond [the] PAMM service”, though the site doesn’t suggest how this is achieved.BTC-e suggests that launch of its multi-currency, Meta Trader 4 terminal earlier this month also played a role in supporting its newest offering. The terminals, the site says, will allow providers to trade funds.PAMM subscribersSubscribers will be given tools for evaluating provider accounts that BTC-e hopes will replace the need for these individuals to understand the intricacies of trading.BTC-e notes it will provide “visual graphs” and “accurate statistics” on providers so that beginners can engage with more experienced traders.Subscribers, it says, will then have the flexibility to withdraw money from a provider at any time so that they may select another offering suitable to their needs.The site also suggests more updates to the program may be on the way, as an “Agent” section visible on the site includes tabs for referrals and commissions, which may be available to incentivize those who engage with its community of PAMM account users.Investor image via Shutterstock BTC-eEuropeexchangeinvestors
Original author: Pete Rizzo