Bitget Introduces Copy Trading to Its Spot Market for the First Time Among CEXs
A market leader in cryptocurrency derivatives The cryptocurrency exchange Bitget has announced that it would be the first to offer copy trading on the spot market. Bitget was the first exchange to provide copy trading for derivatives in 2020. Since then, company has been perfecting its highly liquid and innovative flagship product, One-Click Copy Trade, to provide spot traders with a similarly user-friendly experience in 2023.
Copy trading gives inexperienced traders a better chance of turning a profit by allowing them to model their trades after those of more seasoned investors and providing them with a decent starting point to do so. Users are also afforded greater transparency and adaptability under the feature’s exposure of traders’ Return on Investment, buy/sell times/prices, portfolio and profit/loss records, as well as their Maximum Investment, Stop Loss, and Take Profit settings. This information can be accessed through the user interface.
Bitget’s flagship product, One-Click Reproduce Trade, simplifies trading for novices by enabling users to copy complex futures trading methods with minimal effort. This makes trading more accessible to more people. One-Click Copy Trade, the company’s futures market offering, has amassed over 80,000 traders and 338,000 followers as of December 2022.
By providing users with the ability to replicate trading techniques and yet retain ownership of the cryptocurrency in their wallets, the recently introduced Copy Trading function in the spot market seeks to make the trading experience more streamlined and user-friendly. Users can examine trader profiles that are made available by the platform. This enables users to select their chosen trader based on their profit and loss statement, trader ranking, and portfolio information stored in the system. One-Click Copy Trade is a solution that is beneficial for both parties involved because, following subscription, followers’ trades will be automatically executed along with the orders of subscribed traders, and a profit share percentage will only be charged if the transactions result in a profit. A skilled and experienced trader can further boost their yield by using the feature’s ability to generate passive money for them.
In 2020, Bitget was the first platform to introduce copy trading for cryptocurrency futures. Since then, our One-Click Copy Trade has always been a prominent offering in the company, as stated by Gracy Chen, the Managing Director of Bitget. The numbers have demonstrated the product’s success and contributed to Bitget’s rise as the most prominent crypto copy trading platform. We are happy to announce that the product will now be available on the spot market. Not only will this allow us to reach a larger audience and provide more opportunities for social trading, but it will also further reinforce our position as the industry leader in the cryptocurrency field.
“Bitget has made it their mission to give users the best experience regarding social trading. Bitget launched several safety and protection mechanisms, including Fund Custody, Merkle tree Proof of Reserves, and a US$300 million Protection Fund, to safeguard and protect the users’ monies stored on our platform throughout the crypto winter.
Learn How to Use Bitget to Copy Trades
Copy trading allows inexperienced traders to model their portfolios after those of more seasoned traders, increasing their potential for success. Users can view a trader’s profile and decide whether to follow them based on their performance history, ranking, and portfolio holdings. Once a follower subscribes, their trades will be executed simultaneously with those of the traders. They will only be obligated to pay their businesses for the gains if the exchanges earn a profit.
After introducing copy trading for derivatives in 2020, Bitget’s One-Click Copy Trade will give spot traders a comparable frictionless experience in 2023. One-Click Copy Trade, Bitget’s flagship product, streamlines the trading process for beginners by allowing anyone to copy high-performance futures trading strategies with a single click mechanically. In addition, this feature enables successful and seasoned traders to increase their profit via a passive revenue source.
Through the use of the One-Click Copy Trade feature, traders’ Maximum Investment (MI), Stop Loss (SL), and Take Profit (TP) options, as well as their Return on Investment (ROI), buy and sell times and prices, portfolio and profit and loss records, and user-specified Maximum Investment (MI), are all made public. As a result, traders have more insight into and agency over their transactions.
Over 8 million people in over 100 countries use Bitget every month. By the end of 2022, the company’s One-Click Copy Trade in the futures market had been used by over 80,000 traders and 338,000 followers. In addition, Bitget asserts that it has established several safety and protection techniques, such as Fund Custody, Merkle tree Proof of Reserves, and Bitget’s US$300 million Protection Fund, to shield customer holdings throughout the crypto winter.
Bitget’s background.
Bitget is the world’s top crypto derivatives exchange, and it was founded in 2018. It primarily emphasizes social trading and currently serves more than 8 million members in more than 100 countries. The cryptocurrency exchange is dedicated to offering consumers trading options that are secure, professional, and all-inclusive. It seeks to boost the acceptance of cryptocurrencies through cooperation with reputable partners. Bitget is the first cryptocurrency exchange to partner with illustrious entities such as the legendary Argentine footballer Lionel Messi, the famous Italian football club Juventus, and the official eSports events organizer PGL.
Bitget implements top-tier security and protection measures, such as a $300 million Protection Fund, a Fund Custody service pledged to be fully reserved by the Merkle Tree Proof of Reserves model. These measures ensure users’ funds’ safety while transacting on the platform.
