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- PancakeSwap’s ‘Dumb Mode’ offers simplified cryptocurrency trading with expiry windows from 60 seconds to 10 minutes, ideal for beginners.
- The mode allows for both long and short trades, with a clear ROI system and 6% profit rates.
PancakeSwap comes to trading with a new system called ‘Dumb Mode’, a simplified trading mode designed for traders looking to trade on short-term fluctuations in the value of an underlying asset. This innovation represents a creative and entertaining change in the trading experience, making it easier for users to enter and exit short-term positions efficiently and smoothly.
How does ‘Dumb Mode’ work?
dumb Mode offers users expiration windows of 60 seconds, 5 minutes or 10 minutes, with varying rates of return on investment. Traders can choose between long or short trades on an underlying asset.
At the end of the expiration period, if the asset is in a winning position (price above the opening price for long trades and price below the opening price for short trades), users will make a profit. Each expiration period has a different rate of return on investment, the longer the period, the higher the rate of return.
Markets and Margin Assets in Dumb Mode
This mode supports trading in different markets and margin assets on the BNB chain, as well as Arbitrum, opBNB and base chains, and support for more assets and chains is being developed for the coming months.
Rates and Risk Management
A fee of 6% of the principal or collateral is charged in case of a winning trade, already calculated before the ROI. It is crucial that users understand the high risks involved, especially with an ROI of -100% in losses. It is recommended to manage collateral prudently, investing only what you can afford to lose.
Guide to Using ‘Dumb Mode
To place a ‘Dumb Mode’ order on PancakeSwap, users must select a market, choose between long or short trades, and wait for the conclusion of the trade to receive their ROI, minus the 6% fee.
The trader should note that the expiry timer starts the moment the trade is confirmed on the blockchain, not when ‘OpenPosition’ is clicked.
The final entry price will be determined at the exact point of transaction confirmation on the blockchain.
Key Features of “Dumb Mode”
Expiration Period Selection: Traders select an expiration period, which varies in terms of ROI.
Position Monitoring: Once the trade is placed, its progress can be tracked through the “Position” tab.
Settlement and ROI: Upon the trade’s conclusion, if successful, the ROI is credited minus a 6% fee. If unsuccessful, the loss is 100%.
Start of the Expiration Timer: The expiration timer starts once the transaction is confirmed on the blockchain, not when the user clicks on “Open Position.”
New trading method for beginners
pancakeSwap’s ‘Dumb Mode’ introduces a new style system in cryptocurrency trading, especially for beginners. It offers a simplified way of trading digital assets, reducing complexity and allowing users to concentrate on the essence of trading: making decisions based on market movements.
With this buying and selling innovation, PancakeSwap is at the forefront of cryptocurrency trading platforms, offering an accessible solution for those looking for a more straightforward and less technical trading experience.
A Tool for Keeping Up in a Volatile Market
In a market as volatile and constantly changing as the cryptocurrency market, ‘Dumb Mode’ is a valuable tool for keeping up with market reactions. This simplified mode is ideal for traders who want to take advantage of market opportunities without the need to deeply understand the more technical aspects of cryptocurrency trading.
Will ‘Dumb Mode’ trading have a future?
With the introduction of ‘Dumb Mode’, PancakeSwap is not only making cryptocurrency trading more accessible to a wider audience, but is also setting a precedent for future innovations in the industry.
This mode could be the beginning of a trend towards more intuitive and accessible trading platforms, democratizing access to digital financial markets and opening up new possibilities for investors of all skill and experience levels.
