Copy trading- Newbies’ best trading strategy at the moment?

[Incarts]

Volatility remains one of the factors that impede the adoption of cryptocurrency, this is especially felt by newbies with shallow trading skills. In a bid to help beginners cushion the brunt of this limitation, it became imperative to introduce various trading products, amongst all, Copy trading adoption seems to be spreading like wildfire.

In a nutshell, Copy trading is a trading strategy that allows inexperienced traders to link a portion of their funds to the account of seasoned traders, replicating their strategies and benefiting from their breakthrough trades. This trading product can be credited to Bitget, having introduced Copy trading before any other top exchange, and seen a massive growth in their user base thanks to the growing adoption of Copy trading and their reputation as the biggest Copy trading exchange.

The growth in Copy trading adoption can pass for an indication that cryptocurrency adoption is gaining momentum since this product is widely used by novice traders– who hitherto where overwhelmed by the volatility surrounding trading, and ultimately repelled from the crypto space, hampering the adoption of cryptocurrency as a result.

As a beginner, let’s hear your Copy trading experience and where you think it leaves the growth of other exchanges

 

[collins124]

While copy trading is a beneficial feature, it's important for users to understand that there are risks involved. When you copy a trader, your funds are managed by them to a certain extent. Therefore, it's crucial that you conduct thorough research on the trader's performance before copying their trades.

 

[BashirJasper]

Yeah, you need to look deeply on the elite's success ratio before opting. However having checked most exchanges offering this products it seems the OP's referenced exchange still leads in term of performance here though I've seen the likes of okx still lurking in their shadows

 

[Incarts]

Yeah, you need to look deeply on the elite's success ratio before opting. However having checked most exchanges offering this products it seems the OP's referenced exchange still leads in term of performance here though I've seen the likes of okx still lurking in their shadows

Yea they still lead. Bitget's reputation as the largest Copy trading exchange is still intact, it's fascinating to learn they introduced Copy trading before other top CEXes followed suit

 

[collins124]

Yea they still lead. Bitget's reputation as the largest Copy trading exchange is still intact, it's fascinating to learn they introduced Copy trading before other top CEXes followed suit

They have done a great job being the largest copy-trading exchange. This speaks volumes about their reputation and commitment.