Several cryptocurrency trading platforms exist, making it difficult to choose one. It might be especially difficult for newcomers, but it’s not impossible to find the right sort of trade for your needs if you know what you’re looking for.
Social trading may be a great choice if you want to learn about crypto trading and make some money at the same time. Not many markets provide this feature, but we’ve compiled a list of the top ones you can utilize. So, if you’re interested in social trading for cryptocurrencies, consider the following websites.
Any crypto veteran should know what eToro is. When it comes to social trading platforms, this one is still unrivaled as the best option for crypto investors. The company is headquartered in Israel, but its platform is open to traders from all around the globe. Trading newcomers and seasoned pros alike will benefit from this function since the latter may not have the bandwidth to monitor the markets constantly but are prepared to pay the former to do so on their behalf.
MoonXBT claims to have pioneered the concept of social trading platforms. Moreover, it enables copy traders to divide their portfolios and imitate many traders at once. The expert trader whose trade you copied will get a portion of your profits if you have a winning trade after following their advice. You have complete control over your copy trading account and may make changes at any time. Since, unlike eToro, MoonXBT does not pay its copy traders directly, you may give as much as 10% of your earnings to the traders you copy as an incentive.
Similarly to eToro, Bybit is a standard crypto exchange that also offers copy trading services. Successful transactions made by professional traders may be replicated mechanically, allowing you to benefit with little effort on your part. Similarly to how Bitcoin Prime works, the traders get 10% of your trading profits as compensation. Up to 15 different trading pairs made up of highly liquid assets are available to copy traders. When you find a trader you like, you may duplicate their trades by simply setting your trading preferences, including the amount you want to spend, the leverage you want to employ (up to 100X), and so on.
Another great social trading site is CopyMe. When compared to eToro, it focuses entirely on crypto social trading. The portfolio may be split into various pieces so that you can imitate the transactions of several people at once.
With this option, you may spread out your transactions and lessen the impact of any one potential loss. You have complete control over your exchange money and orders are performed in microseconds. Your existing balance on the exchange will be used to place orders, and CopyMe will merely connect to the API to execute them.
When it comes to copy trading, Coinmatics is another option. Coinmatics allows users to “copy” other users by allowing them to follow the trades of those who have made their crypto trading technique public. The trader sets the fee for investors who seek to “copy” their trades, and the trader may choose to provide the tactics for free.
Investors may either automatically duplicate transactions using this method, or they can get trading signals via the telegram group and submit them manually into their exchange accounts. Binance and FTX are two examples of supported marketplaces.
With your newfound knowledge about the best social trading platforms, you may begin utilizing any one of them right now. Neither coding skills nor trading activities are prerequisites.
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