Best Crypto Exchange For Copy Trading Or Social Trading

The crypto market is booming and attracts a growing number of investors, especially those looking to make money with digital coins. Whether you are an individual investor or want to set up your own trading operation, these exchanges offer the best opportunities for entry-level cryptocurrency traders.

The “binance copy trading” is a crypto exchange that allows users to copy trade or social trade. The platform has an impressive list of features and offers low fees for its services.

In the next days, cryptocurrency will determine our life. Several nations, including El Salvador, have introduced legislation to make Bitcoin legal money. The enormous profit potential of crypto attracts investors from all around the globe.

With Bitcoin at an all-time high, investors are lining up to get their hands on the trendiest cryptocurrency. If you had invested in Bitcoin in the previous 12 months, you would have made an 834 percent profit today. Cryptocurrencies like Ethereum and Cardano have also proven to be profitable investments for their owners. Over the last few months, Ethereum has made a 464.1 percent profit while Cardano has made a 3500 percent profit.

Millions of cryptocurrency investors and traders are eagerly awaiting reliable market analysis and advice. While some individuals are successful in crypto trading, others get trapped. That is why inexperienced traders and those who have had little success with crypto trading seek investing guidance from seasoned traders.

Did you aware that you may receive professional trading advise as well as imitate it on crypto exchanges?

Yes! Crypto copy trade is supported by a number of cryptocurrency exchanges. It enables new or inexperienced traders to study and follow the professional traders’ investing technique.

Let us first define copy trading before going further with crypto exchanges that support it.

Those who learn from their mistakes are said to be intelligent. Those who learn from others’ errors, on the other hand, are the smartest.

Crypto copy trading is a feature on a cryptocurrency exchange platform that allows you to imitate the deals of more experienced traders. Beginners may shorten their learning curve in half while maintaining total control over their accounts with this feature.

Cryptocurrency is, without a doubt, volatile and hazardous. Crypto investing losses and gains are two sides of the same coin. No one can promise a profit of 100 percent with no losses. Losses are an unavoidable aspect of the trading process. Those that use risk management strategies to reduce their losses, on the other hand, come out on top.

Experienced traders have mastered the art of making the greatest transactions throughout the course of their trading careers. They develop their investing plan by examining market trends in great detail. It is advisable to follow and learn from expert traders if you are losing money, confused, or new to crypto trading.

To further understand copy trade in bitcoin, consider the following example.

It’s just following the experienced trader’s investing strategy. You will purchase Bitcoin if a professional trader buys $1000 worth of it. If he sells it in two weeks, you will sell it as well. If a professional trader buys cryptocurrency during a drop, anticipating a price increase, you will do the same. In copy trading, you’ll have to trust the experienced trader’s market knowledge and talents.

Isn’t Copying Cryptocurrencies Risky?

Crypto copy trading platforms claim that there is a lot of bogus news and hype around cryptocurrency. It is quite difficult for individuals to determine what is best for them in these situations. People are educated by copy-trading since it provides them with useful financial information. Users may look at the history of the top professional traders on these sites and determine who to follow.

The success of crypto copy trading, on the other hand, is entirely dependent on your judgment. It depends on which trader you follow and how much money you’re willing to risk. You should put less money in if the trader has a high risk profile. However, if the trader chooses a low-risk strategy, you may put your faith in him and increase your investment.

To summarize, copy trading is only worthwhile if you choose the proper trader. Let’s take a look at some of the crypto exchange sites that support copy trading.

There are currently few possibilities for direct copy trading or trading with bots on the platform. With the use of third-party trading bots and exchange APIs, users may automate their trades on practically any prominent exchange. However, on the exchanges mentioned below, you may utilize such capabilities without having to use a third-party program. These exchanges, on the other hand, may levy a little fee. Here are the top four cryptocurrency exchanges for copy trading.

KuCoin

KuCoin, which was founded in 2017, is one of the few exchanges with built-in trading bots. The Kucoin platform has the most up-to-date features, including a launchpad, mining pools, crypto loans, peer-to-peer trading, crypto trading bots, and more.

KuCoin just released a social trading function (still in beta testing) that allows users to interact with traders and imitate their favorite trader’s portfolio and holdings. Although copy trading is a dangerous endeavor, it is usually advantageous to inexperienced traders. Kucoin allows you to trade in over 200 different cryptocurrencies. It includes, among other things, a bank-level security system, a user-friendly user interface, margin and futures trading.

Features to look for:

Micro-withdrawal wallets, industry-standard multilayer encryption, dynamic multifactor authentication, and specialized internal risk control departments supervise daily data operations in compliance with high-security requirements are all used by KuCoin.
Allows for crypto lending, staking, soft staking, and the bonus of KuCoin Shares (KCS).
Non-custodial trading: If you want to improve your crypto security, KuCoin enables you to trade non-custodial coins straight from your private wallet, thanks to Arwen.
Lets you to purchase cryptocurrencies using fiat through its P2P fiat trade, credit or debit card via Simplex, Banxa, or PayMIR, or its Fast Buy service, which allows you to purchase Bitcoin (BTC) or Tether (USDT) using IDR, VND, or CNY (USDT).

PrimeXBT

PrimeXBT is one of the most popular cryptocurrency, forex, indices, and other commodity online exchanges. It makes trading easier in all of the world’s main marketplaces. It allows you to trade in some of the world’s most popular cryptocurrencies. Bitcoin, Ethereum, Litecoin, and Ripple’s XRP are just a few examples. It accepts cryptocurrency-to-cryptocurrency and cryptocurrency-to-cryptocurrency exchanges.

Features to look for:

The signup procedure is simple and quick.
Low trading commissions
Platform that is easy to use for both novice and seasoned traders.
PrimeXBT’s Covesting platform allows for technical analysis charts and copy trading.
Cryptocurrency deposits, as well as credit card and SEPA transactions, are all supported.
Alternative buying options include Xanpool, Paxful (“P2P”), Coinify, and CEX, to name a few.
With Live Chat, you can get quick customer support.
Framework for strong cyber security.

Charges and fees:

The following are PrimeXBT’s trading fees:

For cryptos, it’s 0.05 percent.
For FX, it’s 0.001%.
For indexes and commodities, 0.01 percent.

Gate.io

Gate.io may serve as your one-stop shop for crypto and copy trade. On the network, which covers over 350 markets, about 200 different currencies are offered. With spot and margin trading, you may buy and sell bitcoin. You may also execute peer-to-peer transactions using the platform’s “push transaction” function.

Features to look for:

The user interface is simple and intuitive, making it suited for both novice and expert traders.
Leverage up to 100x is available for margin, futures, and derivatives (spot exchange) trading.
Get access to real-time market data and essential charting tools to help them effectively trade altcoins, stablecoins, and DeFi tokens.
There is also a demo version available.
HODL profits are generated via cryptocurrency investments.
Allows you to take out loans against other cryptocurrency holdings.
Low trading costs, such as no zero-dollar deposits and low withdrawal costs.
Customer service that is immediate and efficient.

Charges and fees:

It charges no more than 0.2 percent on market activities, with cryptocurrency lending rates ranging from 5% to 18% and overall minimal withdrawal expenses. Making a deposit is free of charge.

eToro

Another site for crypto replica trading is eToro. The crypto exchange platform is easy to use for both novices and experienced traders. You may also get the app, which is available for both Android and iOS smartphones. It gives you access to 17 of the most popular cryptocurrencies.

Features to look for:

You may use it to access 17 different cryptocurrencies.
To create an account and begin investing, a small minimum deposit is necessary.
Allows traders to track the actions of well-known traders via social trading.

Charges and fees:

Trading costs are charged by EToro in the form of spreads, which change according to market circumstances. eToro charges a round-turn spread, which means there is just one spread for both buying and selling crypto assets, unlike some other exchanges. Tezos trading spreads ranged from 0.75 percent to 5 percent for Bitcoin deals. Bitcoin spreads are typically between 1.9 percent and 2.9 percent.

Conclusion

By simplifying the trading market for small and novice traders, copy-trading encourages them to participate. It also educates followers about the market, trading, and risk management tactics, bridging the gap between them and traders. Traders like you may benefit from copy-trading by constructing sensible and winning transactions.

The “best crypto copy trading platform 2021” is a question that has been asked before. There are many different platforms out there, but the best one for you might be on the list of suggestions below.

Frequently Asked Questions

Which platform is best for crypto trading?

A: This is a difficult question to answer without more knowledge. However, based on the available options for trading crypto in 2018 and 2019, there are many good platforms that allow traders to trade different coins.

Does Binance do copy trading?

A: Yes, Binance does copy trading. This means that if you have a certain digital asset on one exchange (exchange A) and you want to get the same asset from another exchange (exchange B), then all it would take is for your order to match with an existing order on Exchange B before trade execution occurs.

Is copy trading profitable crypto?

A: No, trading crypto is not profitable. The market fluctuates on a daily basis and if you would like to make any pocket change off of the exchange for yourself, I recommend getting into arbitrage deals that have been set up by bots or humans.

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