Did you notice Binance's Square New Feature
Hope this post finds you all well!
I noticed this Binance's new feature recently when I opened it for posting an Article on $ETH latest update.
Know this if you're a pro-trader who's planning to become a Crypto influencer, this feature could help out a little.
But if you're a secure long term/short term trader/investor who just comes and goes through the content and post random memes, comments not very frequently or someone who is new to Crypto, it is better to skip this upgrade.
I'll tell you why...
Read the 3rd point in the screenshot below.
Yes, there are many crypto related scams happening on a regular basis even on Binance.
Best example would be BINANCE'S P2P scam, though #Binance facilitates this feature, the scammer still found a loop hole to violate the system.
Alright, if you still wondering what's the risk involved in this one for you, lemme break it down for you
- Sharing this data, would help not only your Users but #scammers accross the Binance to easily understand specific data that's relevant to your portfolio.
- Scammers can easily target you once they get to know your portfolio details, for eg: even through comments sections
- Also big Players/Whales might be able to develop Ai/bots that scraps the data and enhances Market Manipulations.
Final Thoughts
- If you're a pro-trader who already circles holds your Crypto funds in the Hardware Wallets, you're good to go. This feature neither has any direct benefits/impacts on even the followers count nor 100 % risk free feature as wrong set of people still could stalk your data relevant to your investment.
I'll leave the decision to you my friends. Have a safe and wonderful trading journey. 😇🌍
