Crypto copy trading has become a trendy topic in recent years. This technique is prevalent among beginners who are just stepping into the world of cryptocurrency trading. Crypto copy trading is a phenomenon in which the traders replicate the trading strategies or path followed by seasoned traders. You can select your preferred experienced trader and set up the required parameters for copy trading.
There are a plethora of crypto copy trading platforms available online. These platforms allow novices to earn profits in cryptocurrency trading. In this article, you will find a list of the top 5 crypto copy trading platforms you should check out in 2024. These software are rated based on their capabilities and reliability. But before that, let’s first understand what crypto copy trading means.
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Overview Of Crypto Copy Trading
Crypto copy trading allows you to replicate the positions followed by experienced traders while trading. This is mainly done with the help of specific software like Bidsbee. Your account will follow your chosen trader’s path while making deals. It is an excellent trading method for beginners as it doesn’t require any input from them. You must select a seasoned trader and set up a few parameters to start crypto copy trading.
Copy trading has numerous advantages. It provides a fantastic earning opportunity for beginners without knowledge about the digital currency market. Novices can use the copying software to learn other investors’ profit-making strategies. Most platforms are automated, so you do not have to worry about providing inputs. Scroll down to learn about the best cryptocurrency copy trading software:
Bidsbee:
When people discuss copy trading platforms, Bidsbee comes at the top. This software helps you increase your income by tracking the positions followed by professional investors. The expert team of Bidsbee works hard to create a list of verified, experienced traders to whom you can subscribe. After choosing the best trader, you must set up the maximum amount you want to invest in cryptocurrency. Once this is done, you can sit back and enjoy the revenues generated by this automated platform.
Pros:
- You do not have to give confidential details to register on the Bibsbee.
- No prior cryptocurrency trade knowledge or experience is required to join this platform.
- It saves you time as you do not constantly monitor market trends.
- Bidsbee provides transparency of every trade performed from your account.
- There are no transaction charges or hidden costs.
- It has a team of experts to handle the queries and doubts of the investors.
Cons:
- You might face trouble selecting the right professional trader from the diverse list.
- You have to buy a subscription plan to get benefitted from the services offered by Bidsbee.
ByBit:
If you are searching for a one-stop platform for different trading options, then ByBit is the one for you. It has a wide range of digital currencies in which you can trade. Thousands of traders have joined this software for copy trading. Once you have chosen the expert investor you want to follow, you can set up different parameters, including maximum investment and stop loss. By doing this, you have complete control over your trades on Bidsbee.
Pros:
- There is a wide range of experienced traders for you to select.
- You do not have to put in any effort as it has an autopilot mode.
- You can set up the different parameters on your account based on your preferences.
- The interface of ByBit is user-friendly.
- Traders can get their queries resolved on the live customer support chat.
Cons:
- One of the significant drawbacks of ByBit is that it is not available in the United States.
- The subscription plans are costlier than most other platforms.
Shrimpy:
Are you looking for an effective method to manage your trades and overall portfolio? If yes, then consider checking out Shrimpy. It provides you with a wide variety of resources and tools not offered by many other platforms. It mentions all your data on your dashboard so that you can easily track your earnings or profits. You will get two options for copy trading on this platform. You can choose the bot option or follow a professional trader to copy its trades.
Pros:
- A wide range of experts is available to follow and learn their strategies.
- You can even choose the bot copy trading option on Shrimpy.
- All the data is displayed on the professional dashboard so you can track your profits.
Cons:
- You must purchase its subscription plan to avail of the services Shrimpy offers.
- It can be challenging for novice traders to navigate through the website.
Zignaly:
Zignaly was launched in 2018 and is a relatively new software for traders. People from around the globe can join this platform and copy the trades of experts to grow their earnings. Beginners learn a lot from the information on professional trader profiles. One of the most significant benefits of Zignaly is that it provides protection or security to its users.
Pros:
- It has a user-friendly interface, so novices do not experience any trouble using the website.
- It is an excellent platform for beginners who want to learn about cryptocurrency trading.
Cons:
- A minimum deposit of $100 is required to register on Zignaly.
- It lacks transparency, creating many doubts among the users.
OKX:
Another user-friendly copy trading software that you must consider checking is OKX. It has partnered with around 600 experienced traders from around the world. You can select the expert as per your requirement and learn their strategies. Creating an account and completing the KYC registration process on this platform takes only a few minutes.
Pros:
- It provides 24/7 customer support service.
- User-friendly application that is apt for beginners.
- Takes feedback and suggestions from the users to improve their services.
Cons:
- Not available for US citizens.
To Sum Up
Crypto copy trading has become quite famous among novices looking to enter the cryptocurrency market. It is a phenomenon in which a specific software is utilized to copy the trades made by seasoned traders. There are many copy trade software available in the market. One of the best platforms is Bidsbee. Check out the above list to learn about the top five crypto copy trading platforms.
