Bitget Launching Copy Trading Targeting Dominance in Spot Market
Bitget announced plans to launch copy trading to replicate its successful expansion in the derivatives segment in 2020. The centralized crypto exchange (CEN) platform admitted honing its innovative flagship feature, One-Click Copy Trade, to venture into spot trading and deliver an intuitive user experience.
Bitget considers copy trading a fundamental starting stage for beginners so that they can shadow a trading portfolio that mirrors experienced traders. Mirroring the portfolios of experienced traders allows beginners to have a better chance of realizing profitability.
Bitget update on copy trading reassured users of realizing flexibility and transparency through n a feature that offers detailed information on the return on investment, transactions’ time, portfolio, and profit-loss statements. In addition, Bitget’s feature will disclose the individualized maximum investment, take profit and stop loss.
One-Stop Operations
The One-Click Copy Trade project is the flagship product that enables beginners to replicate sophisticated trading approaches with minimal effort. By December 2022, Bitget’s One-Click Copy Trade realized increased acceptance within the futures market by attracting 338000 followers and 80000 traders.
The Copy Trading feature targets to offer seamless and convenient interaction where users can copy strategies deployed by experienced traders and own cryptos within the wallet. The one-stop shop allows users to scrutinize the trader profiles offered by the Bitget platform. By doing so, beginners can choose the professional trader relative to the profit-loss ranking, recorded portfolio, and positioning.
The feature delivers a win-win solution since it automatically executes followers’ trade upon the successful subscription. The platform charges a share of a percentage whenever profit arises during the trades. Like the derivatives product, copy trading features a passive income stream for experienced traders, thereby increasing yield.
Priority to Secure Copy Trading
Bitget managing director Gracy Chen lauded the exchange platform for its copy trading within the crypto futures started in 2020. The official demonstrated that the copy trading product’s success is evident in the numbers making it the leading platform.
Chen added that expanding the product to the spot markets will enable Bitget to expand its audience base. In particular, Bitget’s expansion to social trading will solidify the exchange platform’s leadership within the crypto space.
The expansion into spot trading coincides with Bitget rolling out safety and protection measures during the bearish crypto winter. Chen indicated that the platform would rely upon Fund Custody, Merkle-based proof of reserves, and a $300 million protection kitty.
David Anderson is a writer and researcher for Copy Trading Critic. David provides comprehensive news articles from the online trading world. He also writes reviews and analysis of copy trading platforms and strategies.