Crypto copy trading is a form of automated trading. It allows users to replicate the trades of experienced traders in order to benefit from their knowledge and expertise. By using a crypto copy trading platform, investors can access the same strategies used by successful traders without having to spend time researching and analyzing markets themselves. This type of automated investing can be an effective way for novice investors to get started with cryptocurrency investments.
Top Crypto Copy Trading Platforms in 2024
#1. Bybit: Best crypto copy trading platform
Looking for the best crypto copy trading platform? Bybit may be just what you need. With over 220+ coins and low trading fees, Bybit offers a range of markets including spot and margin trading, as well as a copy trading option. Over 150,000 traders have joined their copy trading program, where you can browse and select from thousands of professional traders with successful histories and results.
What's great about Bybit's crypto copy trading is the ability to customize your trades and choose traders according to their win rates and profits. You can set your preferred leverage, stop-loss, and other parameters to suit your trading style. Plus, if you're an experienced trader with a good market understanding, you can become a principal trader on Bybit and earn a 10% commission for every copier.
#2. MEXC: Massive range of 1,520+ coins
MEXC is our #2 option of the best crypto copy trading platform, and it is ideal for users from the US, since Bybit (the #1 option) is not accessible in the USA. With over 1,520+ cryptocurrencies and an impressive range of 2,110+ trading pairs, MEXC has a huge range of options to suit any crypto copy trader. With low trading fees of just 0.0/0.1% for spot trading and 0.0/0.03% for futures trading, MEXC is an affordable and efficient choice.
MEXC's copy trading feature allows you to browse, search, and select the best traders based on ROI, Total Profit and Loss, Win Rate, Total Equity, and Number of followers. You can also look for specific traders by name.
#3. eToro: Best crypto copy trading for beginners
Please note: The information provided below is not applicable to users in the United States.
eToro is a globally recognized and diversified exchange that offers access to several markets, including stocks and forex, depending on your location. eToro's copy trading feature is particularly popular among beginners, making it easy to invest without any prior experience or knowledge.
With eToro's copy trading feature, you use an automatic process to earn profits while you relax. According to eToro, users who copied the platform's top 50 traders were able to grow their portfolio by over 30% in 2021 - an impressive result. There are no management or hidden fees associated with eToro's copy trading; you only need to pay the commission of the principal trader.
To get started, sign up for eToro and access the copy trading section. You will find a comprehensive list of available principal leaders, along with their rankings and win rates. You can also set your own parameters and preferences to keep risk levels low and reduce dependency on others. One of the unique features of copy trading on eToro is the ability to chat with the principal traders. This enables you to ask questions, express your thoughts, and build trust before copying their trades.
In addition to copy trading, eToro offers a user-friendly interface and professional trading layout, as well as access to a wide range of assets for trading. You can also take advantage of the resources provided to learn and improve your own trading skills.
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What to Look for in a Crypto Copy Trading Platform
When looking for a good crypto copy trading platform there are several factors you should consider:
Benefits of Crypto Copy Trading
The main benefits of crypto copy trading are convenience and diversification. With this type of automated investing, users don’t have to worry about spending hours researching different markets or trying to figure out which strategies work best for them; instead they can simply follow the lead of experienced traders who have already done all the hard work for them.
Additionally, because these platforms allow users to invest in multiple assets at once they also provide greater diversification than manual investing alone would allow.
Finally, copy trading is beneficial for those who are new to crypto trading, and don't know where to start. Copy trading allows them to profit from the experience of others, and learn along the way.
In conclusion, choosing a good crypto copy trading platform can save you time and make you money. It takes away much of the guesswork associated with manually managing your own investments while still allowing you access to potentially profitable opportunities. Sign up to one of the best crypto copy trading platforms and try it out for yourself.