Does your company have a crypto portfolio? Sub Accounts are the best way to manage different strategies or delegate activities
Learn what Young Platform’s Sub Accounts are and how to use them to better manage your corporate cryptocurrency portfolio.
What are Sub Accounts?
Typically in a trading platform, a ‘Sub Account’ (SA) is a type of account subordinate to a main one, called a ‘Master Account‘ (MA).The MA may thus create secondary and segregated accounts, each of which may have different purposes.
This facility is used for different purposes, but is usually set up to manage funds or assets separately. Here are just some of the common situations in which the Sub Account functionality could be useful:
- Management: possibility of using Sub Accounts to separate funds for different trading strategies or markets. For example, a trader might have one SA for day trading and another for long-term investments.
- Monitoring: Sub Accounts allow transactions executed in different strategies or portfolios to be monitored separately. This can simplify record keeping and performance evaluation.
- Risk: SAs can be used to set commensurate risk limits for different trading activities. This helps to avoid excessive losses on a specific account.
In essence, Sub Accounts offer greater flexibility and control in the management of funds. Let us now turn to the advantages of choosing the Young Platform service.
Young Platform Pro Sub Accounts
The functionality is available on demand and only from the Pro version of Young Platform, where it is very simple and intuitive to use. But first let’s see what it consists of.
The Master Account has full powers to:
- Send and withdraw funds to and from any SA
- Move funds between accounts (free of charge, no fees)
- View and manage SA orders
- Check SA balances
- View transactions executed by SAs
- Enable or disable certain cryptocurrency pairs for individual SAs
- Remove SAs
- Reset SA passwords
- View the access history of SAs
In addition, Sub Accounts can be ‘Managed’ or ‘External’, where the former is the mode dedicated to the company’s legal representative who wants to use both an MA and an SA, while the latter is the mode more suitable for teams. In the ‘External’ mode, the MA is managed by the legal representative, while the SA can be given to team members or collaborators.
The advantage of Young Platform is that you can combine this functionality with other services such as the Only Euro Bot: in this way, you simplify the receipt of cryptocurrencies in your account, without preventing you from making recurring trades or purchases.
In fact, as the Only Euro Bot simplifies the handling of payments in crypto by automatically converting them into euros, this can get in the way of trading. With Sub Accounts this is immediately solved: you activate the Bot on one account and with the other you focus on your market strategy.
Want to know more? Write to [email protected], our operators will contact you within 48h.
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