Cryptocurrency exchange MultiBank.io says it’s injecting a bit of stability into the lives of stressed-out traders with the launch of its innovative new “Panic Sell” feature, which allows them to quickly dump any digital asset they may hold if market conditions necessitate such a move.
MultiBank.io is the crypto exchange arm of the financial derivatives trading institution MultiBank Group. Despite being a relatively new player on the crypto scene, MultiBank.io holds the distinction of being one of the most heavily regulated exchange platforms in the industry, with its parent company holding more than 12 licenses globally. It boasts paid-up capital of over US $322 million, a daily average volume of $12.1 billion and military-grade security for all customer’s wallets.
Now MultiBank.io is adding further to its credibility as a safe trading platform for crypto investors. With the Panic Sell button, users can immediately convert all of their positions within a specific asset, or even a fiat currency, in a single click. The feature allows them to simultaneously wire the amount withdrawn directly to their bank account, ensuring they can protect their capital in the event of extreme market volatility.
MultiBank.io said it’s adding a Panic Sell button because it understands the time-sensitive nature of trading. The company’s CEO, Zak Taher, explained that every second counts during tumultuous market conditions, and that the feature stems from his own personal experiences in asset trading. “It's not just a tool; it's our commitment to empower every MultiBank.io user with swift decision-making capabilities when they need it most,” Taher said. “It's a powerful tool we believe our traders will find invaluable.”
Most traders will be very familiar with the idea of panic selling, which refers to the decision to sell an asset immediately due to fears around its plunging value. The crypto market is well known for its excessive volatility, and not even the most established assets escape that risk. A case in point is the failed TerraUSD stablecoin, which relied on an algorithmic mechanism to peg its value to the U.S. dollar, only to spectacularly collapse and become worthless in a matter of hours. Amid sudden market downturns, which are often fueled by rumors and speculation, investors often become anxious over the prospect of further losses, hence “panic selling” is often the best option.
MultiBank.io now streamlines the panic selling process, with users able to hit the new Panic Sell button, select the asset from their portfolio that they wish to sell, specify how many tokens they wish to dump, and finally choose the fiat currency they want to receive their funds in. All of this can be done in seconds, and hitting the “confirm” button will immediately execute the order.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.