Cryptocurrency exchange Bitfinex has introduced a new feature in its series of algorithmic trading tools, so that users can test their trading strategies without putting real money at risk.

Bitfinex users can now distribute the Honey Framework on their additional paper trading accounts. Paper trading is a counterfeiting trade that allows users to practice buying and selling financial assets without risking real money.

Paolo Arduino, CTO of Bitfinex, says the benefit of stock trading is part of the company’s efforts to democratize finance. To explain:

“Launching paper trading under the Honey Framework is part of our commitment to making powerful trading tools available to the whole community. This will allow our growing customer base to explore highly sophisticated algorithmic trading strategies. ”
Honey Framework allows traders and developers to create their own automated trading strategies and order types. This toolbox is available in both NodeJS and Python, and will help users customize the trading experience.

The toolkit allows Bitfinex users to customize the strategy below to take advantage of the rapid price fluctuations of Bitcoin (BTC), Ethereum (ETH) and other cryptocurrencies. The company says that the number of visitors to the Honey Framework has tripled recently, which indicates an increase in algorithmic trading.

According to industry data, Bitfinex is the sixth largest cryptocurrency exchange in the world after today’s trading volume. The platform has processed over $ 1.1 billion in transactions across 513 markets in the last 24 hours.

The Honey Framework is likely to grow in popularity as the crypto market continues to attract professional traders and retail investors. Digital assets are now valued at over $ 1.7 trillion.

Source: CoinTelegraph