There are so many cryptocurrency copy trading platforms in the market today and each of them has its own unique benefits, but which platform can be considered the best? In this list, I’ve reviewed 5 of the top crypto copy trading platforms to help you decide which one you should use. People are always searching for tools that will help them learn about some trading platforms and online brokers. Here’s my review of the top 5 crypto copy trading platforms that you can use today if you want to invest in cryptocurrencies without doing all the research yourself. Let’s get started!
What is Copy Trading Platform?
A copy trading platform is a type of online trading platform that allows investors to copy the trades of other investors. This type of platform is a great way for inexperienced traders to learn how to invest without risking their own money. With this type of platform, you can also earn profit without having a deep understanding of the market or the skills needed to trade on your own. However, these platforms are not available in all countries and some may require that you have an existing account with the company in order to participate.
1) eToro
The company has been around since 2007 and is regulated by the FCA, CySEC, and other governing bodies. This means you can use their platform with peace of mind knowing it will be secure. eToro offers a wide variety of trading opportunities including stocks, bonds, ETFs, commodities, and cryptocurrencies. With their intuitive interface and user-friendly features such as automated investing strategies and copy trading capabilities, eToro might just be your perfect fit for your investment needs.
2) Coinbase
Coinbase was founded in 2012 by Brian Armstrong and Fred Ehrsam, as a digital wallet platform for Bitcoin. Since then, Coinbase has evolved into a cryptocurrency exchange company that enables people to securely buy and use different cryptocurrencies, including Bitcoin. Coinbase also offers an API for developers to create applications for the platform.
Coinbase provides various services such as Exchange Services (buying or selling), Digital Currency Wallet Services (holding), Merchant Services (accepting bitcoin payments), Margin Funding Service (lending), and OTC Trading Desk Services (over-the-counter trading).
3) Binance
You can start trading on Binance by depositing Bitcoin, Ethereum or Litecoin to your account. Once the funds are in your account, you’ll need to purchase one of the available coins listed on the exchange (i.e., Ripple, Tron, IOTA). You’ll need a coin before you can buy other coins. To do this, go to ‘Exchange’ and select ‘Basic’ or ‘Advanced’. Choose a currency pair and enter how many units of that currency you want to buy and then choose which cryptocurrency to use as an exchange. Click on ‘Buy X of Y’ where X is the number of units and Y is the currency pair.
4) Kucoin
Kucoin is a new cryptocurrency exchange, similar to Binance. It features many of the same coins that are listed on Binance and other platforms, with trading pairs in BTC, ETH, NEO and USDT. The biggest difference is how Kucoin has a much wider range of crypto assets available for trading. You can trade coins like Cardano (ADA), IOTA (MIOTA) or Zcash (ZEC) on Kucoin just as easily as you can trade Bitcoin on the site. There’s also an app for both Android and iOS devices so you can take your trades with you anywhere you go.
5) Bitfinex
Bitfinex is a cryptocurrency exchange platform that offers trading of various cryptocurrencies. Bitfinex has a reputation for being the best crypto-trading platform in the world. One of the reasons it is so popular is because they offer margin trading on major coins, which means you can trade with greater leverage and profit potential. They also have one of the largest volumes of any Bitcoin exchange, which means that there is plenty of liquidity to go around.
Conclusion
Copy trading is a very convenient way to get started in the crypto world. To make things even better, it’s also a great way for beginners to learn about different cryptocurrencies and their underlying projects. There are many platforms out there where you can sign up for such a service, but we highly recommend using one of these five platforms:
1) Bitfinex 2) Bittrex 3) Kraken 4) Poloniex 5) GDAX