The Top 10 Crypto Copy Trading Platforms – NewsBTC
With social media cemented as among the most important aspects of today’s modern, digital lifestyle, social trading and crypto copy trading have become increasingly popular as communities grow around the innovative feature.
Copy trading platforms aren’t just growing in size but in number. There is now a sizable share of crypto trading platforms that offer such services. But like all platforms themselves, not all copy trading experiences are created equal.
As such, we have put together a list of the top ten copy trading platforms to help traders decide which platform is best for them.
Each trading platform on the list is worthy of mention, but we are introducing each platform starting with the most robust experience.
PrimeXBT is a popular margin trading platform that offers access to the Covesting copy trading module – a peer-to-peer copy trading community. Followers can automatically copy the trades of top-ranked strategy managers who currently show as much as 4,000% ROI.
PrimeXBT also recently was awarded the “Most Trusted Crypto-Asset Trading Platform” by Crypto Expo Dubai. Copy traders can unlock exclusive benefits using the COV utility token, such as trading fee discounts, an increased profit share, and up to a 2x boost in APY using Covesting yield accounts.
In addition to copy trading, PrimeXBT also provides exposure to more than 100 different of today’s hottest trading instruments using long and short positions on leverage. With PrimeXBT, there is no need to sell your crypto assets – instead, use them as collateral to trade assets like Bitcoin, gold, oil, the S&P 500, and a wide range of forex currencies.
PrimeXBT is a one-stop-shop for investors and traders, with weekly risk-free trading competitions, passive investing options, a lucrative referral program, and the PrimeXBT Trading Academy. The full suite of powerful, easy-to-use trading tools can be accessed from anywhere in the world using a free PrimeXBT mobile application for Android and iOS users. You can also buy crypto with a credit or debit card in just a few clicks.
Phemex lets traders apply to become a Top Trader and allow followers to copy any trades. Top Traders earn a profit share from followers. Top Traders also get access to monthly trading contests where they can compete for a portion of a prize pool.
Like PrimeXBT, there is a lot more to Phemex outside of copy trading. Users can buy crypto, trade spot or derivatives contracts, and access the Phemex Earn platform for variable interest rates.
Phemex also offers several services, like their prediction markets and a launchpad for new and upcoming, albeit riskier, altcoins. Unlike PrimeXBT, Phemex doesn’t provide exposure to any traditional asset classes.
BingX is a lesser-known crypto trading platform with copy trading built-in. The platform provides plenty of insights into what they call Global Elite Traders that followers can latch onto. Those who want to join Global Elite Traders must first apply and be approved.
BingX is very social-forward, calling itself the crypto social trading network. The platform also offers grid trading, unique from the other competitors on the list. Grid trading allows traders access to automated trading bots.
Besides these tools, BingX is also a crypto spot and derivatives trading platform. Again, there isn’t any access to traditional assets, which can be beneficial when crypto trends sideways, as it has been recently.
Zignaly puts a spin on traditional copy trading by calling it smart investing. At its core, it still connects investors (followers) with digital asset managers (traders), and profits are shared when successful trades are copied.
The platform is known best for its clean and easy-to-use interface. Much like how PrimeXBT provides plenty of benefits for utilizing the native COV token, Zignaly also offers similar discounts and benefits for holders of the ZIG token.
There are no monthly fees and no minimum investment, and users can withdraw funds at any time. Besides the main copy trading functionality, there aren’t any other bells and whistles to speak of.
eToro’s copy trading experience is the most social of them all, with a content feed offered in addition to copying trades of top performers. Like many other platforms, becoming a Popular Investor requires applying to the program.
eToro is a bit more all-encompassing of a platform, similar to PrimeXBT, offering plenty of other services and products beyond copy trading alone. eToro is also among the only other trading platforms on the list aside from PrimeXBT to provide some exposure to traditional asset classes, like stocks and commodities.
The company also offers a sleek-looking mobile application so users can manage positions while traveling or out for a night on the town. eToro also has educational tools and something they call “The Bull Club.” The company also uses celebrities in their advertising and marketing materials as a way to show they are trusted.
ByBit added copy trading to its lineup of products through a Master Trader program. Followers can follow these Master Traders and profit from any copied trades. There have recently been issues with Master Traders involved in what ByBit called “malicious” trading activities to boost win rates artificially.
ByBit lets you deposit fiat or crypto or buy crypto to get started. ByBit offers everything but the kitchen sink, with a launchpad for new coins, leveraged tokens, an earn platform, and much more.
It is also one of the few platforms available that offer cryptocurrency-based options contracts. There is also a section for NFTs and instant crypto loans.
WunderTrading isn’t like the other copy trading platforms on the list. It connects to other top crypto exchanges and trading platforms to allow automated copy trading software and bots to execute trades on your behalf.
WunderTrading takes the idea of automated trading bots offered by BingX and builds its entire service around it. WunderTrading lets users manage all crypto accounts from one central place while also being able to leverage a variety of crypto trading bots.
These automated crypto bots can do everything from trade on your behalf to slowly dollar cost average into positions when crypto prices reach certain levels.
Gate.io’s copy trading module works with what is dubbed Strategy Bot, which allows users to copy strategies or create strategies by becoming signalers. Strategies are ranked in a transparent leaderboard, much like PrimeXBT.
Gate.io is one of the original crypto payment gateways, allowing users to buy crypto at reasonable exchange rates and low commissions using fiat. Over time, the platform has also introduced various trading products, such as options, leveraged tokens, and much more.
Because of the long time in the market, Gate.io also offers access to more than 1,400 cryptocurrencies. However, once again, there are no traditional markets which are critical in the current macro environment.
Coinmatics is a copy trading service that lets traders copy other traders and crypto bots. More advanced features include a synced portfolio that instantly allocates capital to the same crypto assets as strategy managers.
By putting trading on autopilot, beginner traders can worry less about risk and loss and make money 24/7. But it really all depends on the performance of the trader or bot chosen.
Unlike other platforms on the list, Coinmatics does require a monthly charge to use the program. There is a free version also, but it has a limit of 1000 USDT.
MoonXBT is a relative newcomer, but its wide availability to more than 200 different countries earned it a spot on the list. MoonXBT offers a basic copy trading experience with some added social trading flair.
Much like BingX focuses mainly on the social side of trading, so does MoonXBT. But there are also USDT perpetual swaps, options trading, the ability to buy crypto, and more.
Trading battles also make things interesting. However, actively pushing something called a 2022 Football Tokens is a less than savory experience. It allows users to participate in a tournament-style competition where users can win “generous prizes.”
Copy trading is becoming more popular with each passing day, especially during the ongoing crypto winter, as more crypto holders seek to find profits by alternative means. By entrusting all trading activities to a more skilled professional, new or inexperienced investors can earn income passively through copy trading.
The growth in copy trading platforms means that it is becoming more accessible than ever before. We recommend you try each platform on the list yourself and find out which experience is right for you.
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© 2022 NewsBTC. All Rights Reserved.