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The Best Cryptocurrency Trading Copy Apps for 2022

Many argue that the cryptocurrency market is the most complex system that humanity ever conceived when it comes to finances. The sheer number of different assets and instruments that allow us to interact with them is enough to confuse even experienced traders. It is one of the reasons why copy trading cryptocurrency became so popular among active investors.

Some people are naturally better at identifying patterns and seeing trends. Experts note that people who succeed using a fundamental approach and those who prefer technical analysis are often very different in many ways. However, certain individuals perform better. That is why copy trading crypto is a good way for newcomers to start earning money.

What is a crypto copy trading strategy?

The simplest way of explaining how modern automation works is to put it this way:

  1. Bots receive signals.
  2. They act according to instructions for specific signals.
  3. They send commands to exchanges where they are executed.

Signals are special numeric inputs created by different sources based on the market analysis. Two most commonly employed methods of generating signals exist:

  1. Technical indicators on terminals like TradingView. These are usually specialized tools that can process data to show potential moments for placing an order. Indicators do not need any intervention from humans to work.
  2. Signals are generated by humans. While there is some merit in following successful investors on social media platforms and using their tips, it is a much better solution to copy their actions on various exchanges.

Copy trading in crypto comes down to finding an excellent trader whose performance is undeniably better compared to the rest and using their actions as signals for bots. The only thing that you need to do aside from finding someone to follow is to get registered with a reliable vendor of automation services. Let’s talk about the best crypto copy trading platforms!

WunderTrading.

This service offers a wide range of different instruments including complex solutions like DCA and GRID bots, arbitrage trading, and more. The dashboard here is very easy to use which is great for novices. You can use plenty of analytical tools included in any package. One thing that makes this particular platform the best crypto copy trading app is that it has a free account option for new customers.

If you are not sure about whether you should use bots in your investment strategy, testing them before committing any money is a great idea. Free tools are full-featured and do not have any limitations aside from the number of robots that you can run simultaneously.

CryptoHopper.

The platform is famous for its versatile automation solutions and integration with a variety of exchanges. The company is pioneering many new branches in the industry with unique advancements in arbitrage (for example, triangular arbitrage automation) and many other complimentary features that both inexperienced users and veterans can enjoy.

Many consider this platform a great example of how talented developers can seamlessly integrate complex functionality without overwhelming end users with unnecessary buttons, menus, and graphs to look at.

eToro.

This exchange has a long history of working in various financial markets. It was founded as an expansion of brokerage services provided by the company with the same name. eToro is a well-established brand in Forex and works with a variety of crypto derivatives. At the same time, you will be hard-pressed to find an exchange with a wider arsenal of trading tools.

If you are not interested in purchasing actual assets and want to use the power of automation to make money, eToro can be a good solution. Note that their instruments are limited to their platform and won’t work with other exchanges.

Should you use social trading?

Even the best copy trading crypto strategy will have risks related to the human factor. While your actions do not interfere with the result, traders that you follow may have a rough patch or completely misjudge a market situation. It is impossible to stay relevant in a market that has so much volatility. Nevertheless, some traders will outperform you 100% of the time meaning that the vast majority of novices should try to implement some copy trading until they learn more about technical analysis.

James Morkel

Tech website author with a passion for all things technology. Expert in various tech domains, including software, gadgets, artificial intelligence, and emerging technologies. Dedicated to simplifying complex topics and providing informative and engaging content to readers. Stay updated with the latest tech trends and industry news through their insightful articles.

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