Lately, it seems that literally everyone is investing and trading in cryptocurrencies, and some have even made good money in the process. To buy and sell crypto successfully, you need to do careful analysis, practice all the time, and take into account a lot of volatility factors. But that shouldn’t discourage you from doing it. Market sessions play an important role in forex trading. Add this article published by Trade Nation to your reading list.
Even without experience with cryptocurrency, developing an effective trading strategy and mastering the market through copytrading, you can earn income on par with experienced players. In this article, you will learn on which platforms it is best to engage in copytrading, getting the most out of fully automated trading.
Bybit — the leader in all parameters
This platform is ideal for copy-trading due to the maximum simplicity of cryptocurrency trading. It’s easy to find traders whose trades can be copied, there’s an option to automatically open and close trades, as well as to monitor the growth of your balance. And all of these features are on one platform, which is very easy to get used to.
Traders with experience use Bybit to access their trades and strategies, generating extra income. Each subscriber pays 10% of their profits. On this crypto trading platform, unlike many others, experienced and novice traders meet, allowing for optimal alliances for crypto trading.
Advantages:
- A versatile platform for copytrading.
- Innovative technology and tools.
- Leverage up to 100x.
- Mass of materials for learning how to trade.
Disadvantages:
- Possibility of aggregation of commissions.
- Service is blocked in the United States.
To start mastering copy trading with Bybit, sign up now and appreciate all the advantages of this versatile platform.
eToro — the optimal choice for social trading
It is one of the best crypto copy trading software for social and copy trading, and one of the best places to trade cryptocurrencies for beginners looking for experienced traders to monitor their trades and make profits. It’s a feature-rich, yet very easy to use platform. The most advanced social trading tools are available here.
In addition to currency pairs, commodities, and stocks, the platform now supports over 16 cryptocurrencies. Whether your trading strategy is crypto, precious metals, or stocks, with eToro you can easily become a member of the largest social trading community, and you will surely find many traders and strategies to copy.
Advantages:
- An ideal platform for social trading.
- Several thousand reliable traders with an excellent reputation for copying.
- Multiple cryptocurrencies are supported.
- The platform is simple and intuitive.
- A convenient wallet for crypto.
- You can read reviews from other traders.
Disadvantages:
- There are no deposits in crypto.
- There is a fee of $5 for withdrawal and lack of activity.
- You can run into unprofessional traders.
Pionex — the ideal trading platform for trading on a modest budget
It offers some of the most attractive trading conditions for those on a shoestring budget. The main reason is that you don’t have to pay for anything on this platform. All you have to do is enter your email and you can use the Pionex software which allows you to trade automatically and make a profit straight away. The platform is ideal for novice traders who have very little crypto and time.
Advantages:
- Everything is completely free.
- There are 16 cryptocurrency trading bots and strategies available.
- Hundreds of types of crypto are supported.
- The system is easy to use — even a beginner can figure it out.
Disadvantages:
- No ability to communicate with other traders.
- Regulatory status is questionable.
WunderTrading — the leader in interface simplicity
This is an innovative platform for cryptocurrency trading. Beginners can learn, develop automated strategies, build bots and copy trades of experienced traders. Several major crypto exchanges are supported, including Binance, KuCoin, Deribit, Kraken and Bybit. But the main thing that makes WunderTrading attractive is its excellent user interface. Everything is as simple, straightforward and surprisingly user-friendly as possible, even for beginners with no experience.
Advantages:
- Simplicity and ease of use.
- Ability to choose a suitable option from supported crypto exchanges.
- Transparency of other traders’ transaction history and statistical data.
- Possibility to create bots based on TradingView strategies.
- Free access for the first month.
Disadvantages:
- Small number of users, although growing.
- Insufficiently fast support service.
All of the platforms in this selection provide some special features and stand out from the many other crypto trading platforms that are currently available on the market.
Regardless of your line of business preference, goals, experience and budget, you will surely be able to find the perfect place to copytrade.