Singapore, Singapore Aug 29, 2022 (Issuewire.com) - Ever since the birth of the crypto market, many have struck it rich which has lured new users into the space batch after batch. However, the complexity and volatility of the crypto market have challenged even the best professional traders, let alone new users with rarely-backed trading skills. Its more so when it comes to crypto derivative trading which has been gaining more popularity during these years given its high leverage and wealth effect.
The attempt to try more challenging crypto trading and the difficulty to do so has nurtured a trading method called copy trading which essentially allows traders, mostly the rookie ones, to mimic the trading strategies of the professional traders in order to get into the more complicated trading game and potentially earn with more magnification. Even in the rather bearish market, it opened a time window for not-so-sophisticated users to hone their trading skills. And copy trading has been used as a learning tool.
Many exchanges have incorporated copy trading seeing the chances it brings to the users, especially new users, to traders and to be able to earn like professional traders. But among them, MoonXBT has stood out and has been gaining more and more popularity because of its pioneering copy trading service featuring fast settlement, strong liquidity, transparency, and user-friendliness.
What is copy trading exactly?
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It may not be hard to understand copy trading at its face value, i.e. to copy-trade someone, to trade like someone else does. However, the key to copy trading is technical automation.
The crypto exchange such as MoonXBTs copy trading service enables users to choose from various professional traders, copy their trading strategies, have their funds allocated according to their copied strategies, and have their orders executed automatically in sync with the professional traders operations.
With the help of technical automation, users can complete copy trading in just one click after having filtered out the traders they want to copy trade and prepare their accounts in just a few steps.
Why would users copy trade?
Copy trading is a win-win scenario for both users who copy trade and for traders who are copied. But it was invented more catering to the needs of regular users who are usually blocked out of the complicated but highly profitable derivative trading.
First and foremost, for many users who just started derivative trading, copy trading provides them a fast pass to enter the arena and get onto the course. Through copy trading, users can familiarise themselves with all the terminology, and basic operations and learn trading strategies from professional traders.
For users who care less about learning and more about earning, copy trading gives them a better chance to win big since their funds are in more experienced hands. Also, it saves users time from having to stare at the price fluctuation of their assets since their orders will be automatically executed.
Copy trading also lowers the threshold for regular traders since they can start copy trading with just one dollar. Unlike many derivative hedge funds which have minimum requirements for entry, using copy trading allows regular users to get on the ride and share a piece of the crypto market with the least amount of money.
Why would traders want to be copied?
For professional traders to become a trader for users to imitate can bring multidimensional benefits as well. Professional traders can enjoy up to 10% of the total benefits of the earnings from their followers which is perhaps the most substantial benefit for them to be part of copy trading.
Meanwhile, its not just about the money, but also convenience. With the help of technical automation, copy trading makes it much easier for professional traders to convert their strategy into earnings and shorten the process to monetize their trading wisdom and influence. In some sense, they are managing a mini fund with the help of copy trading function.
Via copy trading, professional traders are also offered a platform to build their influence and follower base to accumulate longer-term resources which they can utilize to turn crypto trading into a career.
Advantages of MoonXBT copy trading
MoonXBTs copy trading is known for being fast and secure. In the derivative market, prices vary in seconds. MoonXBT guarantees the execution of users orders has little slippage compared to the professional traders strategy and hence assures the synchrony of copy trading.
MoonXBTs copy trading is also powered by strong liquidity which is another important factor to avoid slippage and locking in a profit. Users orders can be filled in milliseconds once executed.
MoonXBTs copy trading is also transparent and diverse. All professional traders are carefully vetted to ensure their credibility. Users can choose who to follow by checking the parameters of the professional traders including the trading days, ROI ratio, win rate, etc. Users have enough stats to do due diligence before deciding who to put their money with, and they have enough options to diversify their portfolio of the chosen traders in order to increase the win rate and reduce risks.
For more information, please visit https://www.moonxbt.com/
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This article was originally published by IssueWire. Read the original article here.