Double your Earnings with Crypto Copy Trading

Even though cryptocurrency was introduced in 2009, the recent rush in the price of crypto assets has got the attention of millions of traders all across the globe. Crypto trading requires a lot of effort and strategies, and if anything doesn’t go as planned, there are chances that you may end up losing huge part of your hard-earned money.

And if you are a beginner, considering copy trading is a better option. Instead of watching the market trends 24x7 and establishing your own strategy, copy trading allows traders to copy the trades of professional traders.

What is copy trading?

As the name suggests, copy trading is all about copying the trades, strategies, and market assessments of expert traders. Using this trading method, anyone can make successful trades. To make things better, copy trading doesn’t require you to watch the market trends continuously. Everything is automated as copy trading bots help you to place trades automatically. All you have to do is to choose the right trader and the amount you wish to invest.

So, copy trading is all about replicating the trades of other traders for profit. Today, investors have access to numerous copy trading platforms offering huge benefits. But with so many options available, it becomes really tough for the traders to choose the right one.

Crypto copy trading enables you to make identical trades as expert traders. You don’t need to provide any input and you will receive the same rewards/benefits as the expert trader you have chosen is receiving. You will select the amount you wish to invest and it will be replicated automatically. This kind of trading method focuses on day trading, short-term trading, and swing trading strategies. Make sure to choose the expert traders whose trades you will be copying wisely.

Why copy trading is a better option for beginners?

So, you are a beginner! If yes, copy trading is a better option as crypto trading requires huge research and efforts. And, with copy trading, you may manage your trades automatically. All you have to do is to choose the right crypto trader for copying.

Copy trading is the best way to earn profits by copying the trades of successful traders and their expertise. One can copy the trades of expert traders automatically by making use of copy trading bots. As the whole trading process will be automated, it will save your time and efforts as well as ensure good returns.

The main motive to copy the trade of expert traders in crypto trading is to have the same profits as the successful trader is earning.

How does crypto copy trading work?

The copy trading feature works differently on different trading platforms. All that is same about this trading platform on all the crypto trading platforms is choosing the right trader and then following their trades to trade smartly so as to earn profits. Another key benefit of copy trading is that you can choose multiple traders via different accounts or apps to minimize the risks during copy trades.

Make sure to choose the copy trading bot from third party crypto trading terminal like TrailingCrypto. Move to the platform’s copy trading page and choose the master/expert trader whose trades you want to copy. Make sure to choose the trader wisely and for this check out the performance metrics, commonly traded pairs, the ROI, and much more about the master trader. After that, you can easily make the decision of choosing the expert trader.

Once after selecting the master trader, transfer the funds to your copy trading account and select your order size. This means, how much percentage of your funds you are investing in copy trade. Expert and advanced traders usually customize their trading in terms of take profit/stop loss levels, leverage, and maximum slippage.

If you are busy and don’t have much time to manage your trades, considering copy trading and copy trading bot is the best option as it will help you discover new strategies to invest.

How copy trading bots help traders?

Copy trading bots give you the flexibility to use them on various supported and popular crypto exchanges. The trading bots will automatically execute trades according to the instructions given to them. They are similar to other types of crypto bots, but the ones used by traders for copy trading will specifically copy the trades of the expert traders.
The copy trading bots allow the traders to earn profits/benefits from the success of expert traders by mirroring their trades. And, at the same time, this kind of trading is risky too as if the trades of expert traders fail, you will also face losses. Those traders who send buy/send signals to beginners are often compensated in the form of a certain percentage of profit or by selling some subscriptions to their services. In addition to being able to copy the trades by using copy trading bots from third-party platforms like Cryptohopper, TrailingCrypto, etc., it is also possible to copy the successful trader’s settings, such as take profit, stop loss, trailing stop loss, etc.

Generally trading bots automatically execute the trades based on the instructions given to them or set for them. These bots are offered by third-party platforms and have the copy trading feature which lets newbies’ or beginners to copy other traders’ trades.

Let’s understand how to start copy trading step by step:
• Choose the copy trading terminal/platform
• Open an account and deposit
• Choose the trader whose trades you wish to copy
• Choose how much money you want to invest
• Start trading

Copy trading is good for beginners and very less risky. It allows newbies to learn more about crypto trading and different kinds of strategies used.