Crypto copy trading software is a great tool if you’re new to crypto and want to follow the strategies of established, experienced traders. For that reason, we’ve narrowed down our favorite 8 providers so you can find the best software and exchanges to get started in copy trading. If you want to peruse some of the most respected and popular platforms for this type of trading, we’ve done all of your homework for you.
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What is Copy Trading Crypto?
Copy trading crypto is the strategy of copying other people’s trades. Just like it sounds.
When you copy trade, you are simply mirroring the actions of the leader in order to generate profit as they are. Conversely, you can be the leader and have others copy you. Copy trading also exists for markets outside of crypto and began in traditional finance.
Those who allow their strategies to be copied usually get a small percentage of your profit in exchange for following them. More than fair, considering they’re doing all the heavy lifting. Because of this, it can be a great way for beginners to get started trading crypto without having to do or know too much. It’s also a good way for knowledgeable traders to make a little extra money if they decide they want to be the one who leads instead of copies.
CryptoVantage’s Favorite Crypto Copy Trading Software
Below are some of our favorite software options for copy trading crypto. They are in no particular order. Some of these are services on exchanges while some are strictly software for your device.
eToro
eToro is one of the original social trading platforms, having started with traditional finance markets. They also offer it for crypto. Their CopyTrader features allows users to easily copy successful trader’s strategies. Simply choose the traders you want to copy, decide how much you wish to invest, and copy everything they do in real-time. You can copy up to 100 traders on eToro, with multiple customizations available within CopyTrader. This includes only copying new trades, copying all trades, pausing a copy, and even putting a stop loss on it. Between their copy trading options and their traditional market capabilities, eToro is quite popular.
Social trading platform where you can trade crypto alongside stocks and assets.
PrimeXBT
One of the most popular options to copy BTC traders, PrimeXBT offers copy trading for all users. Professional traders can easily monetize their skills by allowing others to copy their strategies on the platform. More followers means traders earn more money. Meanwhile, new traders can bypass the pitfalls of learning markets and instead copy-trade successful traders. Using PrimeXBT for this means you get access to a wide range of markets, such as cryptocurrencies, stocks, forex, and commodities. All of these are also accessible via the free mobile trading app.
- Covesting gives users the ability to copy successful traders
- Trade on international markets using Bitcoin, Tether or Ethereum
- Support for staking cryptocurrencies and earning up to 10% APY
- Crypto, S&P 500, Gold, Forex and commodities with a single account
CryptoHopper
CryptoHopper is an extremely popular crypto trading bot. One of the features on CryptoHopper is Mirror Trading, which is like copy trading crypto. Essentially you can mirror, or copy, the trading strategies of experts. You can buy their templates, strategies, or signals. Templates include their selection of coins, configuration settings and more, they are usually offered as a compliment to strategies.
Strategies are designed and screened by approved traders and are a collection of technical indicators and parameters that will dictate a bot’s buying and selling decisions. Signals are a notification of a possible hot coin, meaning you can pay to have a third-party tell you when a coin is worth investing in. On CryptoHopper you can take any of these aspects and apply them to your bot.
- Great introduction to crypto trading bots
- Easy to set up for new users
- Compatible with a large number of cryptocurrency exchanges
- Full support for mirror trading
Gate.io
An exchange with an enormous selection of crypto assets and trading pairs, Gate.io has also recently introduced Copy Trading. In exchange for letting their strategies be copied, traders using this platform get a 5% piece of the profit that you get from using their strategy. This is a cascading effect, with no limit on the number of commissions you can receive. Gate gives users access to a leaderboard of successful traders. These are organized by profitability, trending, and other helpful categories.
Bitget
Bitget is another exchange-copy trading hybrid that was originally based in Singapore but now has offices all over the world. The site offers numerous cryptocurrency pairs, with leverage trading also available. Perhaps the only downside of this provider is that it’s crypto-only so you won’t be able to fund your account with fiat currency.
- Free copy trading for users with up to 8% commission for trader who creates strategy
- Wide selection of small market cap tokens
- Low fees across all aspects of the platform
- 24-hour customer support
Shrimpy
Shrimpy is a crypto trading bot that is focused on portfolio management. One of the reasons it makes our list of best crypto copy trading software picks is their “Social Trading” feature. On Shrimpy, Social trading cryptocurrency is done in two ways: leading and following. Leaders are the ones who create and make their strategy accessible. Other traders can then choose to pay (amount varies by Leader) to follow that user’s strategy. When the leader makes a change to their portfolio, all followers’ portfolios copy that move. There is a leaderboard which shows the most successful leaders, making it easy for new users to pick a winning strategy from existing participants.
- Excellent free version that offers a large number of features
- Social trading portion that lets you follow other traders
- Different tiers for pricing with support for enterprise-level organizations
- Automatic portfolio re-balancer
Zignaly
Zignaly is another popular crypto trading bot, and they also offer copy trading services. You can copy expert traders’ activity automatically, and essentially let them do the work for you. Once you’ve connected your exchange account you just need to select the trader that you wish to follow and pick the desired maximum amount of funds you would like to use.
Zignaly’s copy trading platform will then automatically replicate the trading activity of the trader you are following. This ensures that your results match the trader’s correctly. No need to worry about settings, strategy, or risk management, it’s all done on your behalf. Traders will often charge for these services, and you are able to see the reviews and successes of each trader. Just like on Shrimpy, you can also sell your own strategies on this platform, rather than buying them.
Coinmatics
Coinmatics is strictly a copy trading platform. It works just like the other platforms mentioned above, where traders can choose to pay to copy another trader’s strategy or have others pay to copy their own. There are free strategies available to copy as well. Coinmatics is a bit different from the rest of our picks due to the fact that it is solely focused on copy trading. There are no other services available, such as basic trading bot features.
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