Popular cryptocurrency exchange BTC-e announced via their website this week that they are now offering traders their new PAMM service, a first in the sector.
PAMM — or Percent Allocation Management Module — will allow BTC-e investors to follow the trading strategies (using a slave account) of both professional and experienced traders (a master account).
Over the past several years PAMM technology has been extensively used by traders in the currency exchange markets. It is a proven and effective instrument for money management, investments and strategy copying. BTC-e is the first crypto-currency exchange to make PAMM accounts available for bitcoin traders.
Explained by BTC-e:
Traders can select a suitable strategy with the help of PAMM account rating and graphs that display the Master’s trading results in the past. The Master uses his own capital for trading and trades via the Meta Trader 4 terminal. And his trading strategy is replicated on an unlimited number of ‘Slave’ accounts. As a remuneration the Master receives part of the profit from each ‘Slave account’, that follows his strategy. Profits and remuneration are calculated automatically within the PAMM technology and are paid strictly on time.
The idea is to allow anyone — new or experienced — to get in the game and start generating profits. And the addition of the feature is reflective of BTC-e’s desire to remain one of the top crypto exchanges today.
It will certainly need some time to get off the ground, but it will be interesting to see where this goes in the weeks ahead. If you’re looking for additional information on this, you can visit pamm.btc-e.com.