Cryptocurrency trading in general has gained a lot of popularity and notoriety over the last few years, and as a result, a lot of crypto copy trading software and crypto trading bots have popped up in the industry.
Software like this is a great opportunity for you to earn money if you are a beginner cryptocurrency trader, without having to have extensive experience and knowledge of the industry.
In this article, we are going to talk about the best crypto copy trading software, strategies, and platforms in the industry, so that you can put your best foot forward, and make sure that you are putting your money in the right places.
Best Crypto Copy Trading Platforms & Bots 2024
Pionex has it all going on as far as being a crypto copy trading platform that you can capitalize on if you want to be able to find experienced traders that know what they’re doing.
Perhaps one of the biggest advantages to this crypto copy trading software is that they are free, so that you don’t have to worry about spending more money than you are comfortable with.
If you are just beginning, you probably don’t have a lot of cryptocurrency to invest in in the first place, so the last thing you want to have to do is pay for software just to trade.
As well as being an excellent source to help you copy more experienced traders, you can also make the most of their trading bots, meaning that you are going to be able to automate your trades whenever you want to.
This way, you can not only gain experience in the world of cryptocurrency by learning from the best, but you can set your trades to autopilot, and be trading in cryptocurrency even while you’re sleeping.
eToro is definitely one of the best in the business when it comes to crypto copy trading platform, and they say that they are a social trading software that is designed for beginner traders, so that you can earn more by copying traders that are more experienced.
Not only are they really good for being able to copy more experienced traders, but they are also a super popular online broker.
One thing that we really love about these guys is that it is free for you to use their copy trader software, and you don’t have to pay anything to copy other traders.
The only downside to these guys is that you have to deposit a minimum of $200 into your account, in order to trade with them.
They’re definitely considered one of the best in the industry when it comes to copy trading, because they’re one of the biggest social trading networks that you can make the most of, so that you can really start to think about generating a passive income.
They stand out against other crypto copy trading software for a low entry threshold, a high level of functionality, really favorable trading conditions, and their simplicity.
They offer one of the most advanced methods when it comes to choosing which trader you want to copy.
Shrimpy is basically your virtual and personal assistant when it comes to being crypto copy trading strategy, which means that you can manage your cryptocurrency portfolio in one place, and you don’t have to go anywhere else.
They say that they can help you link all of your wallets and exchanges so that you can easily manage your assets, and you can track your performance, trade really easily, and analyze the market successfully.
You will see on their website that they have a demo, so that you can get to know them before you decide whether to work with them or not, and they also make it really easy for you to connect all of your wallets and exchanges with them, so that you don’t have to rely on another exchange to do everything you want to do.
They also say that they have really robust backtest strategies, which means that you can test out any trade that you copy before you implement it and go live.
They have a comprehensive set of specific market data, so that you can come up with accurate strategy profiles.
Of course, they also make it really easy for you to automate your trading strategies, so these guys are a really good choice if you want to be able to take low-risk trades, but you also want to be able to do it automatically, even when you are away from your computer.
They are connected to some of the world’s best traders, so you can easily copy trades that have had a lot of success in the past.
Cryptohopper is another crypto copy trading strategy that is a good option if you want to automate your cryptocurrency trades, and you are trying to find a trading bot builder as well.
As far as automated cryptocurrency trading goes, they say that they have some the most reliable copy trading bots.
Their copy trading bots execute trades on your behalf, and they’re going to do so based on the instructions that you provide them.
Their crypto copy trading bot has three different pricing plans, $19 a month, $49.00 a month, or $99 a month.
They also offer new clients a free version, but this comes with limited function.
One thing to know about these guys is that they don’t work with all cryptocurrency exchanges out there, but they are compatible with Binance, Coinbase Pro, and other major crypto exchanges in the industry.
As far as their exchange bots go, they are constantly evolving, and adaptable, which means that they are always on the lookout for trends and respond really well to signals.
Their social trading means that you can automatically execute your trades that have been recommended by signal providers.
Zignaly is pretty new to the game of crypto copy trading strategies, because they got their start back in 2018.
They let cryptocurrency traders all around the world copy other traders and use cryptocurrency trading bots free of charge.
With their copy trading platform, you can copy a number of traders from their social trading network.
You can also check out a big amount of relevant data while studying their profiles, including number of copiers, profits that they have made in specific timeframes, and other things related to previous performance.
They also include a profit-sharing feature that lets you allocate a specific amount of money to a trader, and with when trader opens their position, a part of this money is spent in the trade.
When they close their position, and they make a profit, you get a certain amount of this profit.
As far as commission goes, this is different for each trader, but the majority of traders are going to take approximately 20% of the profit.
With a crypto copying trading software like this, cryptocurrency traders can also connect a trading bot to a signal provider, and these are either going to be paid or free.
Gate.io is a crypto copy trading strategy that has been doing its thing since 2013, and as a result, has a lot of experience and know-how.
They have very robust security measures, because they are really interested in protecting their users’ funds, which means that you don’t have to worry about hackers or thieves stealing your cryptocurrency.
One thing that we really like about this crypto copy trading software is that they have a huge number of really experienced cryptocurrency traders that you can copy.
They classify these into different categories, like most copied, and top gainers, which makes it really easy for you to decide who you want to copy, based on personal preferences.
Each trader comes with a detailed profile, that includes information about return amount, rate of return, how many trades they have placed in total, the history around all the trades they have ever placed, the number of people who have copied them, the total amount of money that they have invested, and their total return.
In general, we believe that this is really good software, just know that the traders are going to keep 5% of any profit that you make.
3Commas is a crypto copy trading bot that can help you increase profits, while decreasing risks and losses.
This crypto copy trading software lets you earn money, with minimal effort.
You can create a strategy by bringing together over 20 trading indicators. They let you purchase and sell coins in the same window, and you can also trade 24/7, and copy the settings of other bots.
As far as their crypto copy trading software goes, they let you copy the trades that are executed by a trading bot that has been created by another trader.
You can also check out a lot of helpful information about the bot, before you decide whether it is a good fit for you or not.
They offer their clients a free plan, but this of course comes with limited functionality, and when it comes to their paid plans, these are going to cost anywhere between $29 a month, and $99 a month.
Each of their plans also comes with a free trial for three days.
What is Crypto Copy Trading?
Crypto copy trading, also known as social trading, is the method of automatically copying somebody else’s trades, through a unique software.
You can do this through a copy trading software, that lets traders connect their accounts to a network for trading.
When the trader that is in charge of that network makes a trade, this trade is going to be copied automatically by the other trading accounts that are connected to that specific network.
This means that you are relying on other cryptocurrency traders to share and copy their trading strategies, so that you can benefit from them.
It is definitely a good approach to cryptocurrency trading in general if you are someone who doesn’t have a lot of experience, and you’re hoping to benefit from and learn from others that are a little bit more experience than you.
Different Kinds of Crypto Copy Trading Software
Crypto copy trading platforms play a really important role in being able to automate the trading process, so that it is easy for you if you are a beginner cryptocurrency trader to make a profit, without having to do a lot of market research, and take a big risk.
Another thing to consider when thinking about crypto copy trading software is that there isn’t just one kind.
Let’s take a look at the different kinds of crypto copy trading software.
Crypto Exchange’s Software
This kind of crypto copy trading strategy is offered by cryptocurrency exchanges that are specialized, that support multiple cryptocurrencies, as well as cryptocurrency pairs.
This makes it easy for beginner traders to profit from increases in price, while they copy the trades executed by traders that are more experienced.
Copy Trading Bots
Copy trading bots are used by third-party companies, and you can also integrate them into specific cryptocurrency exchanges.
Trading bots automatically execute trades, based on instructions that you have set for them.
They can also include a copy trading feature that lets them copy and other traders’ trades. You can either pay for a crypto trading bot, or they are free.
Crypto Broker Software
Another type of crypto copy trading platform is the kind that is offered by brokers online, that support crypto currencies, and it comes with similar advantages to software that you can get from cryptocurrency exchanges.
How to Choose the Right Crypto Copy Trading Software
Before you make a decision on the right crypto copy trading software for your needs, you need to think about what your goals are, and what you’re hoping to achieve with it.
Let’s take a look at a few factors you need to think about before you choose a crypto copy trading software.
The size of the trader network
When finding the right crypto copy trading bot, you need to think about the size of the traders’ network.
If the trader’s network is big, this obviously indicates that the software is effective, and a lot of people have benefitted from it.
There’s nothing wrong with a smaller trader’s network, but it just means that it probably hasn’t been around for a long time.
Another thing that you need to think about is how much it is going to cost you to make the most of crypto copy trading software.
The cost is going to indicate how profitable it is to copy other traders using that specific software.
Crypto copy trading is free with specific software, but there are some traders or software that are going to charge you part of the profits that you make through copying their trade.
This isn’t necessarily a bad thing because it encourages traders to place more successfully, but you just need to be aware of any additional costs that you might have to take on.
Of course, if you want to be able to have a good experience with a crypto copy trading bot, you need to find one that is reliable, and is going to ensure that your funds stay safe while you are investing in it.
The best way to check the reliability of software is to look at reviews online from people that have used it in the past.
If software has too many reviews that are negative, then there is something probably wrong with it, and you probably should avoid it.
Which crypto exchanges it supports
When choosing the right crypto copy trading platform for your needs, you need to consider which cryptocurrency exchanges it is integrated with, and whether you are using these exchanges.
Obviously, you don’t want to use a crypto copy trading software that isn’t compatible with the cryptocurrency exchanges that you use to invest your digital currency.
How to Begin Copying Trades
When you are ready to begin copying trades, you need to follow a specific method to make sure that you are going to be successful with your trades in general.
Let’s take a look at a few steps that you can implement to start crypto copy trading the right way.
Choose your copy trading software
Deciding on your crypto copy trading strategy is obviously the first step that you need to take in order to be able to copy other traders.
As mentioned above, our favourite bot is Pionex. Check out our full Pionex review before you go ahead and use it.
Depending on the kind of software that you have chosen, you will create your trading account with an online broker, a cryptocurrency exchange, or a cryptocurrency exchange that is compatible with your software.
Choose the trader you want to copy
Once you have chosen the right crypto copy trading platform, you need to choose the trader that you want to copy.
Choosing a good trader to copy is obviously a really important step in the process, because you want to make sure that your money is going to go a long way.
Depending on the kind of software that you have chosen, you can choose the traders that you want to copy using a number of different criteria, including number of followers, profitability, the equity of their followers, how much time they have spent trading on the platform, and other factors.
Of course, past performance doesn’t always guarantee good performance in the future, but this is the information that you have to go on.
Choose the copy trading settings
Depending on the kind of copy trading platform that you have landed on, you can choose different copy trading settings, like maximum and minimum amount per trade, how much money you want to allocate for a specific trader, and when you want to stop copying that specific trader.
If you are just starting out, we don’t recommend that you choose a maximum amount per trade that is bigger than one or two percent of all of your cryptocurrency.
Always keep track your results
It is essential that you keep track the profits that are being made while copying other traders, because this is going to help you decide whether you should switch up copy trading settings, or stop copying the trades of a specific trader, if they have made multiple losing trades, and ended up losing a lot of money.
Is Crypto Copy Trading Profitable?
Yes, we believe that crypto copy trading can be really profitable, but this isn’t going to be everyone’s experience.
If you are careful to select the best traders to copy, and you choose the right copy trading settings, then it definitely as possible to earn a profit.
However, past performance isn’t always the most accurate indicator of future performance, because the situation in the market is always changing, but again, it is the only information you have to go on.
Therefore, you need to know that no kind of investing is completely free of risk, and you need to be prepared that there might be some losses that you incur.
What Other Kinds of Crypto Trading Are There?
The good thing about investing in cryptocurrency is that there are multiple ways to do so, and multiple trading strategies to apply.
Other crypto trading strategies include arbitrage, and grid trading.
Our list above includes the best crypto copy trading platforms and strategies in the industry right now, so that you can make calculated risks when it comes to your Bitcoin and cryptocurrency investments, and you can also be connected with some of the most experienced traders in the industry.
When you land on crypto traders that have the right amount of experience and expertise to allow you to copy trades that are going to make a profit, this is invaluable.
Also, take note of the criteria that we have talked about when it comes to choosing the right crypto copy trading bot software for your needs, and good luck investing your cryptocurrency in the future.