Copy trading: how it works and which are the best platforms

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Bitget is an exchange founded in 2018 in Singapore, the platform offers many services from trading to savings, from automation to products aimed at experts, without leaving out basic services and functions for beginners in the industry.

The exchange platform, in recent years, has made a lot of headlines with its partnerships with Leo Messi and the Juventus club. It currently ranks among the top 5 exchanges by volume. To date, it has as many as 8 million users in 200 countries with a trading volume exceeding 10 billion daily.

How Bitget works is simple to understand; it is an exchange that allows trading between cryptocurrencies, either through spot trading or futures. But the exchange platform lends itself to many other features, starting with the aforementioned Copy trading, all the way to grid-based BOT for automated trading, via savings functions, Launchpool, and Launchpad.

Bitget is the first platform to launch “copy trading”

One-Click Copy Trade is one of the exchange platform’s flagship products, a special feature that grants users help with cryptocurrency trading. The feature allows investors to follow other more specialized (definable as more experienced) investors, and thus copy their investment movements.

A feature that allows users, in a sense, to collaborate, giving less experienced users a way to follow and learn from those more knowledgeable in the field. At the same time it also favors professional traders who will also be able to make money on the investments of “beginners.” A Bitget service that provides profit on both sides in a transparent, safe and reliable environment. One-Click Copy Trade has amassed over 55,000 professional traders with 1.1 million followers for a total of $3.38 billion invested in the platform.

Bitget can be considered an innovator of this type of trading, the platform has in fact introduced the concept of “social trading” and integrated the same into its services and products. All user investments have resulted in a huge profit of about 20 percent for those who have participated in the service. The instructions for accessing the service are very simple and detailed, participating is not difficult at all, just log on to Bitget’s website.

The service can be a starting point for those who have never approached the world of cryptocurrencies, new users can follow the more experienced ones so they can learn how to trade in a very short time. At the same time, it provides the experienced trader with a greater opportunity to grow and increase his or her earnings. This a win-win solution for anyone getting ready to use this feature.

Gracy Chen, CEO of Bitget, said in this regard:

“Bitget was the first exchange to offer copy trading in the crypto futures market in 2020, and our One-Click Copy Trade has been a featured product in the company ever since. the success has been proven by the numbers and has also helped Bitget become the largest cryptocurrency trading platform. We are proud to extend the product to the spot market, as this will further expand our audience base and social trading offerings, as well as solidify our position as a leader in the crypto space.”

To boost social trading initiatives, Bitget launches “Bitget Insights”

Bitget Insights is an initiative by the exchange platform to increase the potential of social trading. With this feature, traders will have the opportunity to compare their opinions with other users, including more experienced traders. How does it differ from other social? Bitget guarantees the reliability of traders, who will be previously verified. In this way, it will be safer to share opinions, especially concerning more experienced traders, thus avoiding the so-called phenomenon of “shilling” (distorted and fraudulent promotion), false sponsorships, or other such scams.

So to ensure veracity, reliability and transparency, Bitget requires traders to meet certain criteria, to verify the reliability of the same.

Bitget’s decision to accredit qualified traders was mainly based on the fact that on other social media platforms, the presence of malicious traders is quite common and scams are quite frequent.

Gracy Chen, CEO of Bitget, said:

“Innovative trading products and social trading services are the main features of Bitget. Bitget is a pioneer in crypto social trading because of the way it works to improve products through innovation. On ‘Bitget Insights’, the social trading platform where valuable information is more accessible to everyone, curated and verified traders and selected opinion leaders can post their chart analysis, technical strategies and articles to share their insights with followers.

Above all, we are actively listening to our community and know that much information and misinformation on Web3 can be difficult to navigate, especially for new investors. As a cryptocurrency CEX (Centralised Exchange), we are in a unique position to help Web3 traders and investors gather information and gain insights from verified traders on our platform. Ultimately, this makes cryptocurrencies more accessible to broader markets or individuals who might otherwise be hesitant about Web3.”

Bitget is undoubtedly one of the most interactive and important exchange platforms in the industry. These innovations mark a new era for crypto buying and selling, a more inclusive and social revolution.