Cryptocurrency Exchanges that Allow Copy Trading

Forex copy trading has become one of the profitable hacks used to navigate the forex market. Cryptocurrency copy trading also has proven to be profitable to crypto traders, just as its counterpart in forex trading. Crypto traders can benefit from the resources and opportunities associated with cryptocurrency copy trading. 

This article seeks to provide relevant information on the subject matter of cryptocurrency copy trading. The article will also highlight cryptocurrency exchanges that allow this strategy.

What is Cryptocurrency Copy Trading? 

A lot of people are very familiar with forex copy trading. But not so many people can say the same when it comes to cryptocurrency copy trading. Well, here’s your guide -this article-

We can safely say that cryptocurrency copy trading is a revolution in the world of cryptocurrency. This feature allows crypto traders to automatically mirror the trades of a more experienced and successful trader on a platform.

This is very much similar to forex copy trading. Only that this is applicable to cryptocurrencies and forex copy trading is applied in the forex market.

This feature is relatively new in the world of cryptocurrency, however, it is gradually gaining more attention and several cryptocurrency exchanges are beginning to offer this feature on their platforms.

Cryptocurrency Exchanges that Allow Copy Trading

The following are some of the cryptocurrency exchanges that currently allow this feature on their platform:

• eToro
• Bybit
• Bitget
• Pionex
• Kucoin
• zignaly

eToro

This is a multi-asset investment company that focuses on providing financial services of different sorts. They offer a wide range of crypto assets which include bitcoin, ethereum and lots more. eToro has an extensive cryptocurrency copy trading feature which allows traders to copy  and automatically replicate the trades of more experienced traders on the platform. This exchange enables its users to access a comprehensive list of experienced traders with their rankings. With this information, users can easily make evaluations and decide traders to copy. Their platform is user-friendly and facilitates interactions and sharing of ideas among users.  

Bybit 

For crypto traders focused on futures and derivatives trading who want to leverage the strategies of other experienced traders, Bybit is surely a viable option to consider. This cryptocurrency exchange is very popular among crypto traders and offers an inner feature of copy trading to their users. Using Bybit, a trader can either choose to copy other successful traders or be copied by others. The cryptocurrency copy trading feature by this exchange is transparent,showing detailed information of a trader’s strategies and performance. Their platform is equally user friendly, giving users a seamless experience while copying the trades of experts on the platform. Also, Bybit allows for traders to earn a percentage of the profits made from their followers.

Bitget 

This is a premier crypto exchange, and very popular among the highly rated cryptocurrency exchanges that allow copy trading. The copy trading feature offered by Bitget is referred to as ‘One-click copy trade’. This allows copiers to easily find expert traders who they can successfully copy on the platform. Bitget offers a wide range of various crypto assets, including emerging altcoins. Furthermore, this exchange allows users to either copy trades manually or automatically by allowing the system to automate the copy trading feature for them. Bitget also has competitive trading fees, and users with higher volume  trading are allowed certain discounts.

Pionex 

Pionex is majorly focused on automated trading bots and allows users to leverage the use of advanced trading algorithms. It has about 16 different trading bots which enable traders to navigate through market movements for free. Traders on Pionex usually set rules to be followed by those who wish to copy them. These rules may include fee charges, investment amounts and threshold for several copiers. It is also possible for traders to make adjustments to some of the settings by the bot. Settings such as percentages of stop-loss/take-profit, leverage ratio, among others. Traders can also track their performance either by using the Pionex mobile app or from the web.

Kucoin 

Kucoin offers a wide range of crypto trading assets which include margin trading, spot trading and futures. Unlike some other exchanges though, Kucoin uses third party platforms to link users accounts for copy trading. This exchange offers its users with features such as trading bots, trading signals and auto trading to facilitate a seamless copy trading experience. Furthermore, this cryptocurrency exchange provides tight security measures for protecting the funsd and data of its users.   

Zignaly 

This cryptocurrency exchange focuses on automated strategies to facilitate copy trading for its users. Zignaly aggregates the highest quality trading opportunities from both bots and manual traders by scanning lots of crypto exchanges. They rank strategies on the basis of risk adjusted returns by making use of strategy history, social profiles  and other quant data. These provisions enable new traders to correctly make a selection of the top performers on the platform by reading through their strategy descriptions directly. The Zignaly bot facilitates automated mirroring by placing copies of live signals directly into a user’s exchange account behind the scene. Zignaly offers bonus packages to users who invite new traders into the exchange. They also have a mobile app which makes trading signals accessible to users from anywhere.

Growth in the crypto market in recent times has made more cryptocurrency exchanges integrate the copy trading feature, making it easier for beginners to make the most from crypto trading. This article has highlighted some of the exchanges that allow cryptocurrency copy trading, offering you a guide for making a selection.

Frequently Asked Questions

Does Binance allow copy trading?

• Binance has a feature, spot copy trading. This allows traders to copy and replicate the trades of other expert traders.

What is the minimum deposit required for cryptocurrency copy trading?

• There is no generally agreed minimum deposit for copy trading at the moment. However, different brokers may require different amounts from those who want to start copy trading.

Is cryptocurrency copy trading legal or a scam?

• Copy trading is legal and practiced in different parts of the world.