MultiBank.io, the cryptocurrency exchange affiliated with the well-established financial derivatives trading institution, MultiBank Group, is introducing a groundbreaking feature designed to provide greater stability and peace of mind to traders.
This new feature, known as “Panic Sell,” empowers users to swiftly divest themselves of digital assets when market conditions necessitate such a move.
MultiBank.io, though a relative newcomer to the crypto arena, stands out as one of the most heavily regulated exchange platforms globally, benefitting from the comprehensive licensing portfolio held by its parent company, totaling over 12 licenses.
With over US $322 million in paid-up capital, a daily average trading volume of $12.1 billion, and top-tier security measures to safeguard customers’ wallets, MultiBank.io has quickly gained a reputation for trustworthiness.
The Panic Sell button enhances MultiBank.io’s reputation as a secure trading platform for crypto investors. This feature enables users to promptly convert their holdings to a particular asset, or even a fiat currency, with a single click. The added convenience of directly wiring the withdrawn amount to their bank account ensures that traders can protect their capital during periods of extreme market volatility.
The introduction of the Panic Sell button underscores MultiBank.io’s recognition of the time-sensitive nature of trading. The company’s CEO, Zak Taher, emphasized the significance of every second in turbulent market conditions, drawing from his own experiences in asset trading. “It’s not just a tool; it’s our commitment to empowering every MultiBank.io user with swift decision-making capabilities when they need it most,” said Taher.
“It’s a powerful tool we believe our traders will find invaluable.”
Panic selling is a concept familiar to most traders, involving the quick sale of assets due to concerns about their declining value. The crypto market’s notorious volatility poses risks even to well-established assets, as exemplified by the rapid collapse of the TerraUSD stablecoin, which was designed to peg its value to the U.S. dollar using an algorithmic mechanism.
During sudden market downturns, often fueled by rumors and speculation, investors frequently grapple with anxiety over potential further losses, making “panic selling” a common response.
MultiBank.io now simplifies the panic selling process, allowing users to employ the Panic Sell button to select the asset they wish to sell from their portfolio, specify the number of tokens they intend to divest, and choose the fiat currency for receiving the proceeds.
All of these steps can be executed in a matter of seconds, with a single click on the “confirm” button swiftly executing the order. This innovative feature streamlines the process and equips traders with a valuable tool to navigate volatile market conditions.