• Sat. Jul 20th, 2024

Copy Trade Platforms & How They Allow Inexperienced Traders To Mimic Experts’ Trading

Apr 14, 2021

Currently, two major crypto events have been taking place simultaneously. One is the most anticipated public listing of the world’s leading crypto trading platform, Coinbase, with NASDAQ. The second event is that Bitcoin’s price is once again surging immensely and is currently being traded on all-time have a value of US$ 63,000. On a milder note, retail crypto investors to are highly interested these days in getting their piece of the pie from the crypto boom. Particularly, because the world’s expensive crypto coin’s trading has also left behind the trading of commodities and stocks as well.

Those who had invested in Bitcoin in the past year, have been able to earn returns at an average rate of 900%. Yet the least expensive crypto coin, Cardano, which is also one of the top most popular cryptocurrencies of the world, saw a massive value boost. As of today, Cardano’s base value has increased by about 3500% during the past 12 months or so.

Another smart component of crypto that remained increasingly popular amongst crypto fans as Non-Fungible Tokens (NFTs). NFTs were started for fun but it has now turned into a whole new industry that is as profitable as any other crypto product. Already many celebrities, as well as prominent entrepreneurs of the world, have successfully sold their NFTs for huge amounts. Now more and more celebrities and known personalities of the world have been adopting the idea of NFT.

Meanwhile, crypto trading has successfully transformed into a “social activity”. Even the veterans from Wall Street too are joining the crypto industries. While world’s leading financial institutions have been integrating crypto custodial and trading services as well. Similarly, the crypto boom was kept moving because of investments from renowned institutions of the world. This gave birth to a trend that was then followed by other small-medium as well as large-scale institutions.

Now there is yet another crypto trend that is increasing on fast pace basis. The trend is called “copy trading”. A completely new crypto sector has been established by institutions wherein “copy trade platforms” have been developed. In return, these copy platforms have been democratizing digital currency trading. In addition, lucrative and doable strategies have been drawn by these copy trading platforms for the facilitation of new crypto investors.

What this copy trading does is that there is a huge number of novice investors joining crypto trading. Furthermore, when these novice traders want to engage in any crypto trading, they are reluctant and concerned. They are in fact afraid of whether their crypto trading would go as planned or not. However, these copy trading platforms are allowing these inexperienced traders to mimic such trading which was executed by successful traders.

But interestingly, the operation of the trading account is kept exclusively with the owners for ensuring the safety of the funds.

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