Does your company have a cryptocurrency portfolio or engage in trading? Subaccounts are the best way to manage different strategies or delegate activities.
Discover how to effectively manage your corporate cryptocurrency portfolio using Young Platform’s sub-accounts.
What are Sub-Accounts?
In a trading platform, a ‘Sub Account’ (SA) is a subordinate account to a primary account, known as a ‘Master Account‘ (MA). The MA can create multiple secondary and segregated accounts, each designated for a different purpose.
Subaccounts are typically used for various reasons, primarily to manage funds or assets separately. Here are some common scenarios where the Sub Account functionality can be beneficial:
- Management: Sub-accounts enable traders to allocate funds for different trading strategies or markets. For instance, a trader might have one SA dedicated to day trading and another for long-term investments.
- Monitoring: With sub-accounts, transactions executed in different strategies or portfolios can be monitored separately. This feature simplifies record-keeping and performance evaluation.
- Risk Management: Sub-accounts allow traders to set appropriate risk limits for various trading activities, helping to prevent excessive losses in a specific account.
In summary, Subaccounts provide greater flexibility and control in fund management. Now, let’s explore the advantages of using the Young Platform service.
Young Platform Pro Sub-Accounts
The functionality is available on demand and exclusively from the Pro version of Young Platform, making it very simple and intuitive. First, let’s see what it entails.
The Master Account has full powers to:
- Depositing and withdrawing funds to and from any AS
- Transfer funds between accounts (free of charge, no commission)
- Viewing and managing HS orders
- Checking HS balances
- Displaying transactions executed by ASs
- Enabling or disabling specific cryptocurrency pairs for individual ASs
- Remove SA
- Resetting HS passwords
- Viewing the access history of ASs
In addition, Sub-Accounts can be classified as either ‘Managed’ or ‘External’. The ‘Managed’ mode is intended for the company’s legal representative who wants to utilise both a Managed Account (MA) and an Automated Strategy (AS). On the other hand, the ‘External’ mode is more suitable for teams. In the ‘External’ mode, the legal representative oversees the MA, while the AS can be assigned to team members or collaborators.
One significant advantage of Young Platform is the ability to combine this functionality with other services, such as the Only Euro Bot. This integration simplifies receiving cryptocurrencies in your account without hindering your ability to make recurring trades or purchases.
The Only Euro Bot facilitates handling crypto payments by automatically converting them into euros. However, this process can interfere with trading activities. Sub-Accounts quickly resolve the issue: you can activate the Bot on one account while using the other account to focus on your market strategy.
Want to know more? Write to [email protected], our operators will contact you within 48 hours.
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