Best Crypto Copy Trading Platforms.
After trialling out dozens of crypto exchanges, we have compiled our list of the best crypto copy trading exchanges. Scroll down to read about each of these platforms in more detail.
The Top 6 Copy Trading Crypto Platforms in 2023.
Bybit : Best crypto copy trading platform overall MEXC: Huge range of 2,110+ trading pairs eToro : Best for beginners Pionex : Crypto exchange with free crypto copy trading bot Gate.io : Best for huge range of 1,000+ cryptocurrencies Shrimpy: Crypto portfolio management with copy trading functionality Kryll: Copy trade any of 280+ verified strategies.
Cryptocurrencies were introduced in 2009, but the recent surge in the prices of crypto assets grabbed the attention of many people, piquing their interest in investing and copy crypto traders reddit trading. Of course, trading requires extensive research, analysis, time, and attention to evaluate the markets and their movements. If anything goes wrong, you could lose a considerable portion of your equity, and in some cases financial ruin.
Since we live in the era of innovation and solutions, you now have the option to copy trade which is especially useful if you are a new trader, an amateur, or simply someone who wants to trade without any hassles. You can save yourself hours since you eliminate the need to create your own strategy, calculate risks, master different trading markets, and whatnot, as you can simply copy professional traders who take care of everything for you.
What is crypto copy trading?
As the name suggests, copy trading allows users to copy the trades, strategies, and market assessments of professional and experienced traders. This enables any user to make successful trades, even if they have zero experience in trading or the crypto industry. The best thing about copy trading is that you do not have to monitor other traders all the time as everything works on autopilot. You just have to select a particular trader to copy, select the amount you want to trade, and leave it be until you want to cash out your profits or change strategy.
It doesn't matter even if you are a first-timer in the crypto industry, because you can copy trade without any prior knowledge. You don’t have to go through the hassle of learning the basics of trading, spend hours reading the charts every day, or be on social platforms to monitor the market.
What are the benefits of crypto copy trading?
It’s not easy to trade and win in the market if you have not done your homework. Homework includes a lot of time, years of experience, deep research, patience, funds allocation, and much more. This is where crypto copy trading comes in. Let’s check out its benefits!
No knowledge and experience required.
This is the whole point of crypto copy trading: it does not require users to have extensive knowledge of countless crypto markets or qtrade crypto hands-on experience. Even if you are a total beginner with little to no understanding of how trading works, you can still copy trade and earn a considerable amount.
Time efficient.
Crypto copy trading works on an autopilot basis where you simply allocate your investment and sit back and relax. If you have a day job and want to earn money by trading cryptocurrency as a side gig, crypto copy trading will assist you. You only need to take a few minutes out of the day to see how the trader you have copied is performing and if you have made any profits.
Risk management and trade customizations.
Most of the best crypto copy trading platforms allow copy traders to manage the risk efficiently with the adjustment parameters they provide on the copy trading interface. That is where you can set certain limits or even create criteria so that you won’t lose your whole investment in case the trades by the professional trader go sideways.
The best crypto copy trading platforms: Reviews.
Read more about the top copy trading crypto platforms in 2023. Investigate each one for yourself to see which is best for your personal needs.