How to copy the best bitcoin and cryptocurrency traders?
If you are interested in trading Bitcoin and cryptocurrencies without much hassle, copy trading is the perfect option for you. It is a simple form of trading offered by many trading platforms and Bybit is one of the most popular, where experienced traders use Bybit trading signals to alert other crypto traders.
All traders can use Bybit’s copy trading feature, but new traders tend to do it more. Inexperienced traders copy trading techniques from experts, making it a safe way to copy cryptocurrency trading strategies and gain experience. There are two types of copy trading:
- Automated trading: This means that a new trader can choose the experienced trader he wants to copy and execute trades automatically in his account.
- Hand trade: This form of trading carries less risk because it is up to the new trader to decide whether he wants to copy another trader’s position.
How good is the copy trading feature on Bybit?
Bybit’s copy trading feature offers an easier way to trade digital currencies. This is beneficial for new traders, who have no trading experience or are unable to monitor the markets to manually place trades.
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In addition, Bybit’s copy trading feature offers many benefits for new and old traders. Below are the top reasons why Bitcoin and cryptocurrency traders should opt for copy trading.
1. Prices
Copy trading is free for traders, whether they want to register as a Follower or as a Master Trader. According to Bybit’s guidelines, traders who have signed up as subscribers are required to share 10% of the net profits they earn with the copying traders.
There is also a Bybit copy trading referral program, where users can get a 30% commission and a bonus of up to 500 USDT when they invite their friends to join Bybit’s copy trading. » Learn more
2. Automation features
When a new trader chooses the Master Trader he wants to follow and copy, all his trades are executed automatically. Therefore, it makes copy trading an automated feature.
3. Ease of use
Copy trading is a reliable trading method, which makes it easy to use. Experienced traders have to meet high standards. This gives new crypto traders many reliable options to choose from for a good imitation experience.
Bybit’s goal is to make copy trading easy for its users, therefore, subscribers just need to make a small deposit to start copy trading without any commission.
4. Transparency
All important information is available to a user so that he can make the right decision for himself. This is one of the important features of Bybit copy trading. It is a transparent bitcoin and cryptocurrency trading platform that displays all losses, profits and trades available to users.
Is Copy Trading on Bybit different from other platforms?
Many trading platforms offer copy trading, but what makes Bybit different from these platforms? To begin with, Bybit has made it easy for subscribers to participate in exchanges by allowing them easy access as mentioned above. In fact, subscribers can learn and communicate directly with other prominent Master Traders.
Bybit thoroughly screens all of its Master Traders before allowing them to trade using its cryptocurrency platform. They offer detailed statistics on each Master Trader’s performance so that followers can choose the most experienced trader to emulate.
Additionally, Master Traders can tap into the largest pool of followers in the industry through Bybit. This allows them to increase their income by allowing new traders to emulate their trading strategies. Finally, traders on Bybit have full access to a variety of smart trading tools that allow them to combine different trading strategies to generate profits for their subscribers and themselves.
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Disclaimer: The information and opinions contained in this report are provided for general information only and do not constitute an offer or solicitation relating to the purchase or sale of Foreign Exchange Contracts, CFDs and Cryptocurrencies. Although the information contained herein was obtained from sources believed to be reliable, the author makes no guarantees as to its accuracy or completeness, and assumes no responsibility for any direct, indirect, or consequential damages that may arise from anyone relying on such information.