Perhaps you are wondering what are the best copy trade platforms for cryptocurrency traders.
Copy trading, also known as social trading, has gained a lot of popularity among traditional financial markets and is now becoming a norm among cryptocurrency investors. It offers a lifeline for less experienced investors/traders and allows them to make profits even without much advanced market knowledge.
How does copy trading work?
Copy trading is the process of allowing someone else to trade for you by directly copying the same trades they made.
By copying other traders, a cryptocurrency investor can create a real-time trading book that follows exactly what experienced cryptocurrency traders do in their trading book.
In this way, inexperienced investors can automatically copy trading signals and manage real trading portfolios while generating passive income in cryptocurrencies.
Is it possible to make money with copy trader?
Yes!. Copying more experienced traders can generate a significant amount of money passively, however, it is up to the user to do proper research as to who exactly they are copying.
And it also means that you must set your risk tolerance beforehand and understand that losing some money is a business expense and no profit can be made without taking some losses.
What is the best copy trader robot?
While social trading is a great way for less experienced cryptocurrency investors to make money, it will be necessary to do some more careful research to choose the best social copy trader platform due to the wide variety of social trading platforms found online. We're here for help.
Below is a list of the best copy trading platforms and robots for cryptocurrency investors.
Zignally → best most advanced social trading copy trader platforms specifically focused on cryptocurrencies.
Zignaly offers a web trading interface that gives investors the ability to create trading portfolios by connecting different crypto exchanges via API keys. Currently, this only works with Binance and KuCoin , but more exchanges are coming.
After first connecting the exchanges with API keys, the way the copying operation works here is that the trader the copier is copying from controls everything that takes place on their trading account as well as the copier's account. The copier only needs to set the maximum funds it is willing to commit in exchanging copies.
And not only can traders use Zignaly for trading copy, but it is also configured with much more features and advanced features like trading bots and smart trading terminals.
Setting up your automatic copy switching is also an extremely easy process. You just need a Zignaly account, connect your exchange with API keys and choose the best traders on the market.
All in all, Zignaly is an amazing platform to copy other traders and can definitely remove the stress generated by highly volatile markets like cryptocurrencies tend to be.
Wunderbit → best robot copy trader or platform to copy traders with a focus on cryptocurrency advanced.
Wunderbit comes with its own built-in crypto exchange to buy Bitcoin and other cryptocurrencies. And with a sophisticated web trading platform where cryptocurrency investors can copy trades from experienced crypto traders or trade on their own by creating automated trading bots or using smart trading terminals.
The trading platform allows access to trading and investing in a variety of cryptocurrencies without any hassle as it can be connected to several major cryptocurrency exchanges such as Binance , FTX and Bybit using API keys.
Investors can also easily locate and copy the best cryptocurrency traders, due to the transparent tracking records and easy-to-use market.
To start copying traders on Wunderbit, you first need to register the investor account and connect your exchange API keys to Wunderbit, from where you can deposit funds and start copying other traders.
PrimeXBT is an advanced Bitcoin-focused exchange that offers immediate access to Bitcoin-based No KYC accounts that can be used to trade cryptocurrencies and traditional markets.
The platform has everything from industry-leading technology, fast execution speed, professional trading interface to multiple order types, instant deposits and secure cold storage wallets with fair fees of 0.05% per trade.
Account creation is completely anonymous and with 100x leverage, the possibilities for maximizing your earnings are literally endless.
In addition to just being one of the most advanced Bitcoin trading platforms, with just a click of a button, PrimeXBT also gives users access to Covesting social copy trading features, allowing followers and trades to earn additional income.
Depending on the copy's trading volume, followers earn between 60% and 75% of profits, while the platform charges a fee of 20% to 5%, and the manager earns 20% regardless of the conditions.
It takes you no more than 1 minute to start copying other successful traders, and all that requires account registration is your email address. Once you have your account set up and funded with Bitcoin, you can immediately be ready to trade and copy other traders and generate your passive income.
ZuluTrade → best forex copy trader platform, excellent robot to copy trader very popular for investors in the forex market, cryptocurrencies.
The platform supports a wide range of exchanges across Europe, offshore and in the United States that cryptocurrency investors can use for social/copy trade by connecting through the ZuluTrade platform.
ZuluTrade therefore works more like a signal service provider connecting brokers and giving users free access to choose and interact with thousands of other professional traders. Traders on the platform can then create profiles, leave trading statements and notes about their approach to risk analysis and management strategies.
Through the platform, users can access various trading instruments ranging from forex, stocks, ETFs, commodities, to a variety of cryptocurrencies including Bitcoin, Ethereum, XRP and Litecoin.
Overall, compared to eToro, the ZuluTrade platform is much more professional and advanced, offering much more options and features for trading to customize your signal approach, with highly advanced system portfolio management. The cost of all this, of course, means it's a little less user-friendly.
That said, to start investing in ZuluTrade, cryptocurrency investors can start with a demo account. Otherwise, they must deposit a minimum of $ 300 into their real trading book.
5. Jet-Bot → it is one of the best robot for copy trader most used to copy trades on the binance platform.
This product is designed for professional investors and traders:
- You traders use Jet-Bot as a trading automation software for Binance with features like automated trading signals, automated take profit, stop loss, DCA, martingale and other features that allow traders to trade more profitably, efficiently and with less risk.
Investors can choose the best Jet-Bot traders and start copying all their trades in a fully automated way 24/7. Ready to start using the platform?
Should You Use Social Trading Platforms?
Whether you're new to the world of cryptocurrency trading or not, it doesn't take long to understand just how complex and frightening these market fluctuations are.
With social copy trading, cryptocurrency investors, especially newbies, can get great relief from the stress of constantly monitoring cryptocurrency markets.
And not only can copy trading really teach valuable lessons over time, as copycats watch how professional traders trade their money, they can also become more successful and start generating real profits on different exchanges on their own.
These are just a few of the reasons why copy trading is a great habit to start looking at and obviously there's more to it like the fact that because you're away from the markets you can't feel the FOMO or get in. panic.
Copying other traders also means your money never sleeps and is working for you 24/7.
And, of course, starting to trade social copies with cryptocurrencies has never been easier.
All you need to do to get started is:
- Choose a social copy trading platform and register an account.
- Connect your exchange or account Binance or one another exchange through API keys.
- Choose the most successful trader on the market and follow him.
That's it, social copy trading will now passively generate more Bitcoins.
While it is really simple, remember that losses are an inevitable part of trading.
Copy trader is becoming increasingly popular among cryptocurrency investors who want to start generating passive cryptocurrency income over time.
For beginners, especially just starting out with their trading journey, it's no wonder why copying trades looks so appealing. Everything is automatic, trading runs in the background and takes care of itself, with buy and sell orders 24/7.
And the same can apply to the professional trader too, if you just don't have the time to watch the charts, it only makes sense to let someone else trade for you and copy what they do.
That said, we still recommend that you acquire the knowledge yourself, that way you don't have to trust anyone to make your trades and you'll learn something that no one can take away from you.